What is one of the key functions of a board of directors?

Determining the strategic direction of the firm is a fundamental function of a board of directors. The board is responsible for overseeing the overall management of the organization and ensuring that the business is moving in a direction that aligns with its mission and goals. This includes setting long-term objectives, approving major initiatives, and monitoring corporate performance to ensure the organization meets its targets. The strategic direction set by the board influences every aspect of the company’s operations, impacting decision-making at all levels.

In contrast, activities like designing the company logo, managing daily operations, and conducting employee training are typically handled by lower-level managers and staff rather than the board of directors. These functions fall under the operational management realm, focusing on executing strategies rather than formulating them. Thus, while those activities are crucial to the company's success, they do not fall within the board's primary responsibilities.