What is the primary role of the board of directors in a corporation?

The primary role of the board of directors in a corporation is to oversee the management of the corporation and make major governance decisions. This function is fundamental to the structure of corporate governance, as the board serves as the decision-making body that establishes broad policies and goals for the organization.

The board is responsible for selecting the corporation's executive management, providing guidance and oversight to ensure that the corporation is managed effectively and ethically. It evaluates management performance, approves major capital expenditures, and makes significant strategic decisions that impact the future of the company. This oversight is essential for maintaining accountability and ensuring that the management's actions align with the interests of the shareholders.

The board also plays a role in corporate governance by creating policies that promote transparency and compliance with legal and regulatory standards. This direct involvement in high-level decision-making contrasts sharply with the daily operations of the corporation, which are typically handled by executive management.

The other roles mentioned, such as administering daily operations, representing shareholder interests in meetings, and engaging in marketing strategies, are functions that either fall outside the traditional scope of the board's responsibilities or are primarily the domain of the management team. Thus, the correct answer accurately reflects the fundamental authority and responsibilities entrusted to the board of directors within the corporate governance structure.