1.
American International Group
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American International Group, Inc. also known as AIG, is an American multinational insurance corporation with more than 88 million customers in 130 countries. As of 2015 AIG companies employed around 65,000 people, the company operates through three businesses, AIG Property Casualty, AIG Life and Retirement, and United Guaranty Corporation. AIG Property Casualty provides insurance products for commercial, institutional, AIG Life and Retirement provides life insurance and retirement services in the United States. UGC focuses on mortgage guaranty insurance and mortgage insurance, AIG also provides financial services in global capital markets operations, including direct investment and retained interests. AIG was a player in the financial crisis of 2008. It was bailed out by the government for $170 billion. The Financial Crisis Inquiry Commission of the US government concluded AIG failed primarily because it sold massive amounts of insurance without hedging its investment. AIGs corporate headquarters are in New York City, its Europe, Middle East, and Africa headquarters are in London, and its Asian headquarters are in Hong Kong. The company serves 98% of the Fortune 500 companies, 96% of Fortune 1000, and 90% of Fortune Global 500, AIG was ranked 40th largest company in the 2014 Fortune 500 list. According to the 2014 Forbes Global 2000 list, AIG is the 42nd-largest public company in the world, on March 31,2015 AIG had a market capitalization of $75.04 billion. AIG traces its roots back to 1919, when American Cornelius Vander Starr established an insurance agency, American Asiatic Underwriters, in Shanghai. Business grew rapidly, and two later, Starr formed a life insurance operation. By the late 1920s, AAU had branches throughout China and Southeast Asia, including the Philippines, Indonesia, in 1926, Mr. Starr opened his first office in the United States, American International Underwriters Corporation. He also focused on opportunities in Latin America and, in the late 1930s, AIU entered Havana, the steady growth of the Latin American agencies proved significant as it would offset the decline in business from Asia due to the impending World War II. In 1939, Mr. Starr moved his headquarters from Shanghai, China, after World War II, American International Underwriters entered Japan and Germany, to provide insurance for American military personnel. Throughout the late 1940s and early 1950s, AIU continued to expand in Europe, with opening in France, Italy. In 1952, Mr. Starr began to focus on the American market by acquiring Globe & Rutgers Fire Insurance Company and its subsidiary, by the end of the decade, C. V. Starrs general and life insurance organization included a network of agents
2.
Council on Foreign Relations
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The Council on Foreign Relations, founded in 1921, is a United States nonprofit think tank specializing in U. S. foreign policy and international affairs. It is headquartered in New York City, with an office in Washington. Its membership, which numbers 4,900, has included senior politicians, more than a dozen secretaries of state, CIA directors, bankers, lawyers, professors, and senior media figures. The CFR meetings convene government officials, global leaders and prominent members of the intelligence. This academic band, including Wilsons closest adviser and long-time friend Colonel Edward M. House, as well as Walter Lippmann, met to assemble the strategy for the postwar world. The team produced more than 2,000 documents detailing and analyzing the political, economic and their reports formed the basis for the Fourteen Points, which outlined Wilsons strategy for peace after wars end. These scholars then traveled to the Paris Peace Conference,1919 and participated in the discussions there. ”The members were proponents of Wilsons internationalism, but were concerned about the effect that the war. On July 29,1921 they filed a certification of incorporation and he gathered $125,000 from the wealthy members on the council, and via sending letters soliciting funds to the thousand richest Americans. In the late 1930s, the Ford Foundation and Rockefeller Foundation began contributing large amounts of money to the Council, the secrecy surrounding this group was such, that the Council members who were not involved in its deliberations were completely unaware of the study groups existence. It was divided into four functional groups, economic and financial, security and armaments, territorial. The security and armaments group was headed by Allen Welsh Dulles who later became a figure in the CIAs predecessor. The CFR ultimately produced 682 memoranda for the State Department, marked classified and circulated among the government departments. A critical study found that of 502 government officials surveyed from 1945 to 1972, during the Eisenhower administration 40% of the top U. S. foreign policy officials were CFR members, under Truman, 42% of the top posts were filled by council members. During the Kennedy administration, this rose to 51%. In an anonymous piece called The Sources of Soviet Conduct that appeared in Foreign Affairs in 1947, the essay would prove to be highly influential in US foreign policy for seven upcoming presidential administrations. William Bundy credited the CFRs study groups with helping to lay the framework of thinking led to the Marshall Plan. Due to new interest in the group, membership grew towards 1,000, dwight D. Eisenhower chaired a CFR study group while he served as President of Columbia University. One member later said, whatever General Eisenhower knows about economics, the CFR study group devised an expanded study group called Americans for Eisenhower to increase his chances for the presidency
3.
Upper class
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The upper class in modern societies is the social class composed of the wealthiest members of society, who also wield the greatest political power. According to this view, the class is generally distinguished by immense wealth which is passed on from generation to generation. Prior to the 20th century, the aristocracy was widely used. The term is used in conjunction with terms like upper-middle class, middle class. Upper-class status commonly derived from the position of ones family. Much of the population that composed the upper consisted of aristocrats, ruling families, titled people. These people were born into their status and historically there was not much movement across class boundaries. This is to say that it was harder for an individual to move up in class simply because of the structure of society. The Transatlantic Slave Trade also helped create a class of white Europeans while maintaining a lower class of black Europeans, Americans and Africans. This fact is often edited out of academic research both in publications and online ones such as Wikipedia. In many countries, the upper class was intimately associated with hereditary land ownership. Political power was often in the hands of the landowners in many pre-industrial societies despite there being no legal barriers to land ownership for other social classes. Upper-class landowners in Europe were often members of the titled nobility, though not necessarily. Some upper classes were almost entirely untitled, for example, the Szlachta of the Polish–Lithuanian Commonwealth, in England, Wales, Scotland, and Ireland, the upper class traditionally comprised the landed gentry and the aristocracy of noble families with hereditary titles. The vast majority of post-medieval aristocratic families originated in the merchant class and were ennobled between the 14th and 19th centuries while intermarrying with the old nobility and gentry. Since the Second World War, the term has come to encompass rich, members of the English gentry organized the colonization of Virginia and New England and ruled these colonies for generations forming the foundation of the American upper class or East Coast Elite. In this respect, the US differs little from such as the UK where membership of the upper class is also dependent on other factors. The American upper class is estimated to less than 1% of the population
4.
Central Intelligence Agency
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As one of the principal members of the U. S. Intelligence Community, the CIA reports to the Director of National Intelligence and is focused on providing intelligence for the President. Though it is not the only U. S. government agency specializing in HUMINT and it exerts foreign political influence through its tactical divisions, such as the Special Activities Division. Despite transferring some of its powers to the DNI, the CIA has grown in size as a result of the September 11 attacks. In 2013, The Washington Post reported that in fiscal year 2010, the CIA has increasingly expanded its roles, including covert paramilitary operations. One of its largest divisions, the Information Operations Center, has shifted focus from counter-terrorism to offensive cyber-operations, when the CIA was created, its purpose was to create a clearinghouse for foreign policy intelligence and analysis. Today its primary purpose is to collect, analyze, evaluate, and disseminate foreign intelligence, warning/informing American leaders of important overseas events, with Pakistan described as an intractable target. Counterintelligence, with China, Russia, Iran, Cuba, the Executive Office also supports the U. S. military by providing it with information it gathers, receiving information from military intelligence organizations, and cooperates on field activities. The Executive Director is in charge of the day to day operation of the CIA, each branch of the military service has its own Director. The Directorate has four regional groups, six groups for transnational issues. There is a dedicated to Iraq, regional analytical offices covering the Near East and South Asia, Russia and Europe, and the Asian Pacific, Latin American. The Directorate of Operations is responsible for collecting intelligence. The name reflects its role as the coordinator of intelligence activities between other elements of the wider U. S. intelligence community with their own HUMINT operations. This Directorate was created in an attempt to end years of rivalry over influence, philosophy, in spite of this, the Department of Defense recently organized its own global clandestine intelligence service, the Defense Clandestine Service, under the Defense Intelligence Agency. This Directorate is known to be organized by regions and issues. The Directorate of Science & Technology was established to research, create, many of its innovations were transferred to other intelligence organizations, or, as they became more overt, to the military services. For example, the development of the U-2 high-altitude reconnaissance aircraft was done in cooperation with the United States Air Force, the U-2s original mission was clandestine imagery intelligence over denied areas such as the Soviet Union. It was subsequently provided with signals intelligence and measurement and signature intelligence capabilities, subsequently, NPIC was transferred to the National Geospatial-Intelligence Agency
5.
United States
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Forty-eight of the fifty states and the federal district are contiguous and located in North America between Canada and Mexico. The state of Alaska is in the northwest corner of North America, bordered by Canada to the east, the state of Hawaii is an archipelago in the mid-Pacific Ocean. The U. S. territories are scattered about the Pacific Ocean, the geography, climate and wildlife of the country are extremely diverse. At 3.8 million square miles and with over 324 million people, the United States is the worlds third- or fourth-largest country by area, third-largest by land area. It is one of the worlds most ethnically diverse and multicultural nations, paleo-Indians migrated from Asia to the North American mainland at least 15,000 years ago. European colonization began in the 16th century, the United States emerged from 13 British colonies along the East Coast. Numerous disputes between Great Britain and the following the Seven Years War led to the American Revolution. On July 4,1776, during the course of the American Revolutionary War, the war ended in 1783 with recognition of the independence of the United States by Great Britain, representing the first successful war of independence against a European power. The current constitution was adopted in 1788, after the Articles of Confederation, the first ten amendments, collectively named the Bill of Rights, were ratified in 1791 and designed to guarantee many fundamental civil liberties. During the second half of the 19th century, the American Civil War led to the end of slavery in the country. By the end of century, the United States extended into the Pacific Ocean. The Spanish–American War and World War I confirmed the status as a global military power. The end of the Cold War and the dissolution of the Soviet Union in 1991 left the United States as the sole superpower. The U. S. is a member of the United Nations, World Bank, International Monetary Fund, Organization of American States. The United States is a developed country, with the worlds largest economy by nominal GDP. It ranks highly in several measures of performance, including average wage, human development, per capita GDP. While the U. S. economy is considered post-industrial, characterized by the dominance of services and knowledge economy, the United States is a prominent political and cultural force internationally, and a leader in scientific research and technological innovations. In 1507, the German cartographer Martin Waldseemüller produced a map on which he named the lands of the Western Hemisphere America after the Italian explorer and cartographer Amerigo Vespucci
6.
Competition law
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Competition law is a law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement, Competition law is known as anti-trust law in the United States, and as anti-monopoly law in China and Russia. In previous years it has known as trade practices law in the United Kingdom. In the European Union, it is referred to as both antitrust and competition law, the history of competition law reaches back to the Roman Empire. The business practices of market traders, guilds and governments have always been subject to scrutiny, since the 20th century, competition law has become global. The two largest and most influential systems of regulation are United States antitrust law and European Union competition law. National and regional competition authorities across the world have formed international support, modern competition law has historically evolved on a country level to promote and maintain fair competition in markets principally within the territorial boundaries of nation-states. National competition law usually does not cover activity beyond territorial borders unless it has significant effects at nation-state level, countries may allow for extraterritorial jurisdiction in competition cases based on so-called effects doctrine. The protection of competition is governed by international competition agreements. These obligations were not included in GATT, but in 1994, with the conclusion of the Uruguay Round of GATT Multilateral Negotiations, the Agreement Establishing the WTO included a range of limited provisions on various cross-border competition issues on a sector specific basis. Competition law, or antitrust law, has three elements, prohibiting agreements or practices that restrict free trading and competition between business. This includes in particular the repression of trade caused by cartels. Banning abusive behavior by a firm dominating a market, or anti-competitive practices that tend to lead to such a dominant position, Practices controlled in this way may include predatory pricing, tying, price gouging, refusal to deal, and many others. Supervising the mergers and acquisitions of large corporations, including joint ventures. Substance and practice of competition law varies from jurisdiction to jurisdiction, protecting the interests of consumers and ensuring that entrepreneurs have an opportunity to compete in the market economy are often treated as important objectives. In recent decades, competition law has been viewed as a way to better public services. An early example of competition law can be found in Roman law, the Lex Julia de Annona was enacted during the Roman Republic around 50 B. C. To protect the trade, heavy fines were imposed on anyone directly, deliberately
7.
Social class
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Class is an essential object of analysis for sociologists, political scientists, anthropologists, and social historians. However, there is not a consensus on the best definition of the class, the precise measurements of what determines social class in society has varied over time. According to philosopher Karl Marx, class is determined entirely by ones relationship to the means of production, the term class is etymologically derived from the Latin classis, which was used by census takers to categorize citizens by wealth, in order to determine military service obligations. In the late 18th century, the class began to replace classifications such as estates, rank. Historically social class and behavior was sometimes laid down in law, definitions of social classes reflect a number of sociological perspectives, informed by anthropology, economics, psychology, and sociology. The major perspectives historically have been Marxism and Structural functionalism, the common stratum model of class divides society into a simple hierarchy of working class, middle class and upper class. For Marx, class is a combination of objective and subjective factors, objectively, a class shares a common relationship to the means of production. Subjectively, the members will necessarily have some perception of their similarity, Class consciousness is not simply an awareness of ones own class interest but is also a set of shared views regarding how society should be organized legally, culturally, socially and politically. These class relations are reproduced through time and this is the fundamental economic structure of work and property, a state of inequality that is normalized and reproduced through cultural ideology. Marxists explain the history of civilized societies in terms of a war of classes between those who control production and those who produce the goods or services in society, in the Marxist view of capitalism, this is a conflict between capitalists and wage-workers. Furthermore, in countries where modern civilisation has become fully developed, an industrial army of workmen, under the command of a capitalist, requires, like a real army, officers and sergeants who, while the work is being done, command in the name of the capitalist. This would mark the beginning of a society in which human needs rather than profit would be motive for production. In a society with democratic control and production for use, there would be no class, no state and no need for financial and banking institutions and money. Max Weber formulated a three-component theory of stratification, that saw social class as emerging from an interplay between class, status and power. Weber believed that class position was determined by a relationship to the means of production. Weber derived many of his key concepts on social stratification by examining the structure of many countries. He noted that contrary to Marxs theories, stratification was based on more than simply ownership of capital, Weber pointed out that some members of the aristocracy lack economic wealth yet might nevertheless have political power. Likewise in Europe, many wealthy Jewish families in lack prestige and honor, Class, A persons economic position in a society
8.
World War II
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World War II, also known as the Second World War, was a global war that lasted from 1939 to 1945, although related conflicts began earlier. It involved the vast majority of the worlds countries—including all of the great powers—eventually forming two opposing alliances, the Allies and the Axis. It was the most widespread war in history, and directly involved more than 100 million people from over 30 countries. Marked by mass deaths of civilians, including the Holocaust and the bombing of industrial and population centres. These made World War II the deadliest conflict in human history, from late 1939 to early 1941, in a series of campaigns and treaties, Germany conquered or controlled much of continental Europe, and formed the Axis alliance with Italy and Japan. Under the Molotov–Ribbentrop Pact of August 1939, Germany and the Soviet Union partitioned and annexed territories of their European neighbours, Poland, Finland, Romania and the Baltic states. In December 1941, Japan attacked the United States and European colonies in the Pacific Ocean, and quickly conquered much of the Western Pacific. The Axis advance halted in 1942 when Japan lost the critical Battle of Midway, near Hawaii, in 1944, the Western Allies invaded German-occupied France, while the Soviet Union regained all of its territorial losses and invaded Germany and its allies. During 1944 and 1945 the Japanese suffered major reverses in mainland Asia in South Central China and Burma, while the Allies crippled the Japanese Navy, thus ended the war in Asia, cementing the total victory of the Allies. World War II altered the political alignment and social structure of the world, the United Nations was established to foster international co-operation and prevent future conflicts. The victorious great powers—the United States, the Soviet Union, China, the United Kingdom, the Soviet Union and the United States emerged as rival superpowers, setting the stage for the Cold War, which lasted for the next 46 years. Meanwhile, the influence of European great powers waned, while the decolonisation of Asia, most countries whose industries had been damaged moved towards economic recovery. Political integration, especially in Europe, emerged as an effort to end pre-war enmities, the start of the war in Europe is generally held to be 1 September 1939, beginning with the German invasion of Poland, Britain and France declared war on Germany two days later. The dates for the beginning of war in the Pacific include the start of the Second Sino-Japanese War on 7 July 1937, or even the Japanese invasion of Manchuria on 19 September 1931. Others follow the British historian A. J. P. Taylor, who held that the Sino-Japanese War and war in Europe and its colonies occurred simultaneously and this article uses the conventional dating. Other starting dates sometimes used for World War II include the Italian invasion of Abyssinia on 3 October 1935. The British historian Antony Beevor views the beginning of World War II as the Battles of Khalkhin Gol fought between Japan and the forces of Mongolia and the Soviet Union from May to September 1939, the exact date of the wars end is also not universally agreed upon. It was generally accepted at the time that the war ended with the armistice of 14 August 1945, rather than the formal surrender of Japan
9.
Social network
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A social network is a social structure made up of a set of social actors, sets of dyadic ties, and other social interactions between actors. The social network perspective provides a set of methods for analyzing the structure of whole social entities as well as a variety of theories explaining the patterns observed in these structures. The study of these structures uses social network analysis to local and global patterns, locate influential entities. Social networks and the analysis of them is an inherently interdisciplinary academic field which emerged from social psychology, sociology, statistics, georg Simmel authored early structural theories in sociology emphasizing the dynamics of triads and web of group affiliations. Jacob Moreno is credited with developing the first sociograms in the 1930s to study interpersonal relationships and these approaches were mathematically formalized in the 1950s and theories and methods of social networks became pervasive in the social and behavioral sciences by the 1980s. Social network analysis is now one of the major paradigms in contemporary sociology, together with other complex networks, it forms part of the nascent field of network science. The social network is a theoretical construct useful in the sciences to study relationships between individuals, groups, organizations, or even entire societies. The term is used to describe a structure determined by such interactions. The ties through which any given social unit connects represent the convergence of the social contacts of that unit. This theoretical approach is, necessarily, relational, thus, one common criticism of social network theory is that individual agency is often ignored although this may not be the case in practice. Precisely because many different types of relations, singular or in combination, form these network configurations, in the late 1890s, both Émile Durkheim and Ferdinand Tönnies foreshadowed the idea of social networks in their theories and research of social groups. Tönnies argued that groups can exist as personal and direct social ties that either link individuals who share values and belief or impersonal, formal. Major developments in the field can be seen in the 1930s by several groups in psychology, anthropology, in psychology, in the 1930s, Jacob L. Moreno began systematic recording and analysis of social interaction in small groups, especially classrooms and work groups. In anthropology, the foundation for social theory is the theoretical and ethnographic work of Bronislaw Malinowski, Alfred Radcliffe-Brown. In sociology, the work of Talcott Parsons set the stage for taking a relational approach to understanding social structure. Later, drawing upon Parsons theory, the work of sociologist Peter Blau provides a strong impetus for analyzing the relational ties of social units with his work on social exchange theory, by the 1970s, a growing number of scholars worked to combine the different tracks and traditions. In general, social networks are self-organizing, emergent, and complex and these patterns become more apparent as network size increases. However, a network analysis of, for example, all interpersonal relationships in the world is not feasible and is likely to contain so much information as to be uninformative
10.
Corporation
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A corporation is a company or group of people authorized to act as a single entity and recognized as such in law. Early incorporated entities were established by charter, most jurisdictions now allow the creation of new corporations through registration. Corporations chartered in regions where they are distinguished by whether they are allowed to be for profit or not are referred to as for profit and not-for-profit corporations, there is some overlap between stock/non-stock and for profit/not-for-profit in that not-for-profit corporations are always non-stock as well. A for profit corporation is almost always a stock corporation, registered corporations have legal personality and are owned by shareholders whose liability is limited to their investment. Shareholders do not typically actively manage a corporation, shareholders instead elect or appoint a board of directors to control the corporation in a fiduciary capacity, in American English, the word corporation is most often used to describe large business corporations. In British English and in the Commonwealth countries, the company is more widely used to describe the same sort of entity while the word corporation encompasses all incorporated entities. In American English, the company can include entities such as partnerships that would not be referred to as companies in British English as they are not a separate legal entity. Despite not being human beings, corporations, as far as the law is concerned, are legal persons. Corporations can exercise human rights against real individuals and the state, Corporations can be dissolved either by statutory operation, order of court, or voluntary action on the part of shareholders. Corporations can even be convicted of offenses, such as fraud. However, corporations are not considered living entities in the way humans are. While not a corporation, this new type of entity became very attractive as an alternative for corporations not needing to issue stock, in Germany, the organization was referred to as Gesellschaft mit beschränkter Haftung or GmbH. In the last quarter of the 20th Century this new form of organization became available in the United States and other countries. Since the GmbH and LLC forms of organization are technically not corporations they will not be discussed in this article, the word corporation derives from corpus, the Latin word for body, or a body of people. By the time of Justinian, Roman law recognized a range of corporate entities under the names universitas and these included the state itself, municipalities, and such private associations as sponsors of a religious cult, burial clubs, political groups, and guilds of craftsmen or traders. Such bodies commonly had the right to own property and make contracts, to receive gifts and legacies, to sue and be sued, private associations were granted designated privileges and liberties by the emperor. Entities which carried on business and were the subjects of rights were found in ancient Rome. In medieval Europe, churches became incorporated, as did local governments, such as the Pope, the point was that the incorporation would survive longer than the lives of any particular member, existing in perpetuity
11.
Revolving door (politics)
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In politics, the revolving door is a movement of personnel between roles as legislators and regulators and the industries affected by the legislation and regulation. In some cases, the roles are performed in sequence but in certain circumstances may be performed at the same time, the lobbying industry is especially affected by the revolving door concept, as the main asset for a lobbyist is contacts with and influence on government officials. This industrial climate is attractive for ex-government officials and it can also mean substantial monetary rewards for the lobbying firms and government projects and contracts in the hundreds of millions for those they represent. Regulation relating to this phenomenon and the issues of lobbying. Here are details for a few jurisdictions, - In Australia. There is no legislation against doing so, the appointment of Leung Chin-man as executive director of New World China Land in 2008 led to much controversy. Leung was previously a civil servant and administrative officer in charge of lands. His appointment as an director of a subsidiary of a land developer led to allegations of collusion of interests. He resigned after two weeks, and the territorys Legislative Council had, for years, an inquiry into the matter, Amakudari is the institutionalized practice where Japanese senior bureaucrats retire to high-profile positions in the private and public sectors. The practice was viewed as corrupt and a drag on unfastening the ties between private sector and state which prevent economic and political reforms. In April 2007, a law to phase out amakudari prohibits ministries from attempting to place bureaucrats in industry with implementation in 2009. However, the law also removed a ban that prevented retiring officials from taking jobs with companies with which they had official dealings during the five years before retirement. Amakudari may also be a reward for preferential treatment provided by officials to their new employers during their term in the civil service, some government organisations are said to be expressly maintained for the purpose of hiring retiring bureaucrats and paying them high salaries at taxpayers expense. In the strictest meaning of amakudari, bureaucrats retire into private companies, in other forms bureaucrats move into government corporations, are granted successive public and private sector appointments or may become politicians, including becoming members of parliament. Political scientists have identified amakudari as a feature of Japans political. The practice is thought to bind private and public sector in an embrace and prevent political. Amakudari is widespread in many branches of the Japanese government but is subject to government efforts to regulate the practice. Pressure to reduce amakudari retirement to corporations may be leading to an increase in bureaucrats retiring to other public sector organisations instead, Amakudari was a minor issue before World War II since government officials could be outplaced to a large number of industrial organization that were nationalized
12.
Board of directors
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A board of directors is a body of elected or appointed members who jointly oversee the activities of a corporation or organization, which can include a non-profit organization or a government agency. A board of directors activities are determined by the powers, duties and responsibilities conferred on it by an authority outside itself and these matters are typically detailed in regulations or in the organizations constitution and bylaws. These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet. In an organization with voting members, the board is accountable to, and might be subordinate to, the full membership. In a stock corporation, non-executive directors are voted for by the shareholders, the board of directors appoints the chief executive officer of the corporation and sets out the overall strategic direction. In corporations with dispersed ownership, the identification and nomination of directors are often done by the board itself, in a non-stock corporation with no general voting membership, the board is the supreme governing body of the institution, its members are sometimes chosen by the board itself. Other names include Board of directors and advisors, board of governors, board of managers, board of regents, board of trustees and it may also be called the executive board and is often simply referred to as the board. For companies with publicly trading stock, these responsibilities are typically much more rigorous, typically, the board chooses one of its members to be the chairman, who holds whatever title is specified in the bylaws or articles of association. However, in organizations, the members elect the president of the organization. The directors of an organization are the persons who are members of its board, several specific terms categorize directors by the presence or absence of their other relationships to the organization. An inside director is a director who is also an employee, officer, chief executive, major shareholder, inside directors represent the interests of the entitys stakeholders, and often have special knowledge of its inner workings, its financial or market position, and so on. Executive directors often have an area of responsibility in the organization, such as finance, marketing, human resources. An outside director is a member of the board who is not otherwise employed by or engaged with the organization, a typical example is a director who is president of a firm in a different industry. Outside directors are not employees of the company or affiliated with it in any other way, outside directors bring outside experience and perspectives to the board. One of the arguments for having outside directors is that they can keep a eye on the inside directors. Outside directors are unlikely to tolerate insider dealing between insider directors, as outside directors do not benefit from the company or organization, outside directors are often useful in handling disputes between inside directors, or between shareholders and the board. They are thought to be advantageous because they can be objective, director - a person appointed to serve on the board of an organization, such as an institution or business. This practice results in an interlocking directorate, where a small number of individuals have significant influence over a large number of important entities
