I. Fill in the blanks in this text, using the words from the list below:
List: Link, Actively, Company's, Delay, Increase, Sell, Spent, Run, Provided, Capital, Certain, Brand, Overseas, Combines, Course, Coming, Faced, Benefit, Appointed, Marketing, Financial, General, advertising, Complex, Buy, Directors, Management, Post.
TEXT C. EXECUTIVE DIRECTORS
A modern business enterprise is often a…. system requiring a lot of…. which is provided by the public when they…. shares in the company. Since they have…. the capital, it is appropriate that they choose the people who are to…. the company for them, namely the board of directors. Many of the…. also have executive responsibilities. Thus, a marketing director might be a full director of the board…. by the shareholders at the annual…. meeting like the other directors. Yet he might also be responsible for the day-to day…. of the marketing department. Most of his time will be…. administrative matters, organizing market research, dealing with…. and generally ensuing that the…. sales are maximized. But he will function as a director when the board of directors meets. The…. of managing director also the roles of chief executive with membership of the board and this allows him to act as a vital…. between the board of directors and their…. management team. The managing director is often also chairmen of the board of directors…. directors have the advantage that they are…. involved with the…. affairs…. If the board of directors wish to move in a…. direction, the executive directors will know whether such a…. of action is practicable. For example, the board might wish to…. their products in a particular…. market. The market would be profitable for the company, but the…. director knows that his team of salespeople lack the experience to take advantage of the Situation. Or perhaps the board would like to… the advertising expenditure during the…. year but the…. director knows that the company will have to meet some heavy commitments during the…. months and it would be better to…. the campaign. Perhaps the best board is one which contains a…. of executive and non- executive directors. In this way the board has the…. some directors who know the practical problems…. by the business, while others bring their own…. of expertise to the boardroom discussions.

Filled text:

A modern business enterprise is often a complex system requiring a lot of capital which is provided by the public when they buy shares in the company. Since they have provided the capital, it is appropriate that they choose the people who are to run the company for them, namely the board of directors. Many of the directors also have executive responsibilities. Thus, a marketing director might be a full director of the board appointed by the shareholders at the annual general meeting like the other directors. Yet he might also be responsible for the day-to-day management of the marketing department. Most of his time will be spent on administrative matters, organizing market research, dealing with advertising and generally ensuring that the company’s sales are maximized. But he will function as a director when the board of directors meets.

The post of managing director combines the roles of chief executive with membership of the board and this allows him to act as a vital link between the board of directors and their senior management team. The managing director is often also chairman of the board of directors. Executive directors have the advantage that they are actively involved with the company’s affairs. If the board of directors wish to move in a certain direction, the executive directors will know whether such a course of action is practicable.

For example, the board might wish to sell their products in a particular overseas market. The market would be profitable for the company, but the marketing director knows that his team of salespeople lack the experience to take advantage of the situation. Or perhaps the board would like to increase the advertising expenditure during the coming year but the financial director knows that the company will have to meet some heavy commitments during the coming months and it would be better to delay the campaign.

Perhaps the best board is one which contains a balance of executive and non-executive directors. In this way the board has the benefit of some directors who know the practical problems faced by the business, while others bring their own areas of expertise to the boardroom discussions.

There are two words in this version that are needed by meaning but are not in the given list: senior, balance, areas. So the word list is probably incomplete or copied with mistakes.

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