Final answer:
Top executives or management are the individuals in a company who 'own' the lead responsibility for specific areas of the business. In private companies, they may also be owners, while in public companies, they are overseen by a board selected by shareholders as part of corporate governance.
Step-by-step explanation:
Individual executives who lead and 'own' the responsibility of the relevant activities in a company are often referred to as top executives or management.
This includes various positions like CEOs, CFOs, and other senior management roles. These individuals are tasked with aligning the company's strategic goals to their responsibilities, hence they 'own' the areas they manage.
In a private company, these top executives may also be owners, especially in structures like a sole proprietorship or a partnership. In a public company, however, ownership is spread among shareholders, who elect a board of directors.
The board, in turn, hires and oversees the top executives, though these executives often have significant influence over board selection. This dynamic is part of corporate governance, a system meant to ensure that a company's management acts in the best interest of the owners.