Which of the following is a responsibility of a corporation's management?

Management within a corporation plays a critical role in the day-to-day functioning of the business, which includes making daily operational decisions. This responsibility involves overseeing various operational aspects, such as production processes, employee management, customer service, and resource allocation. Effective management ensures that the organization operates smoothly and efficiently, aligns with its strategic goals, and responds adequately to emerging challenges or opportunities.

The other choices reflect responsibilities that do not typically fall under the direct purview of corporate management. Setting overall industry standards is often the task of regulatory bodies or industry associations, which establish benchmarks to ensure fairness and competitiveness. Allocating shares for dividends relates more to the board of directors and financial strategists, who decide how profits are distributed among shareholders. Determining tax policy is the realm of government authorities and lawmakers, who create tax regulations that businesses must follow. Each of these areas is distinct from the everyday decision-making that management is responsible for.