Frank Buckman sits on the board of directors for seven oil companies and three corporations that manufacture oil rigs and oil-producing machinery. Several of his closest business associates belong to the same boards. Such a scenario is an example of a(n) ________.

Question

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An interlocking directorate is when individuals serve on the boards of directors for multiple companies, creating a network of interconnectedness among corporations. This allows for potential conflicts of interest and can lead to concentrated power and influence over certain industries.

Frank Buckman Sits on the Board of Directors for Seven