Which of the following is not a responsibility of a company's board regarding strategy?

A company's board plays a critical role in guiding and overseeing the strategic direction of the organization. Their primary responsibilities include ensuring that the company is effectively managed and that it adheres to its strategic goals. One of the core duties of a board is to hire senior-level executives who will implement the company’s strategy and drive operational success. This involves assessing candidates' qualifications and fit for the organization's needs.

Additionally, the board is responsible for evaluating the skills and performances of these senior executives to ensure that the leadership team is capable and aligned with the company's objectives. Strong oversight is also an essential function of the board, as it ensures that the management adheres to legal, ethical, and operational standards while progressing toward the company's goals.

However, when it comes to developing the company's business model, this task typically falls under the purview of the management team rather than the board itself. The board provides oversight and support but does not directly engage in creating the business model. This distinction is essential, as the board's focus is more on governance and strategic oversight rather than on the day-to-day operational decisions or the intricate details of how the company will generate value through its business model.