The key duties of a company's board of directors in the strategy-making, strategy-executing process include: 1. taking the lead in formulating the company's strategic plan but then delegating the task of implementing and executing the strategic plan to the company's CEO and other senior executives.
2. overseeing the company's financial accounting and financial reporting practices and evaluating the caliber of senior executives' strategy-making/strategy-executing skills.
3. approving the company's operating strategies, functional-area strategies, business strategy, and overall corporate strategy.
4. taking the lead in developing the company's business model and strategic vision.
5. coming up with compelling strategy proposals of their own to debate against those put forward by top management.

2). Overseeing the company's financial accounting and financial reporting practices and evaluating the caliber of senior executives' strategy-making/strategy-executing skills.

Explanation:

A company's board of directors is primarily responsible for ensuring the appropriate management in the company keeping the interests of the shareholders in mind. Therefore, they constantly overview the financial accounting as well as financial reporting practices of the company so that there is no loophole. At the same time, they are responsible for assessing the efficacy of the skills and caliber of strategy-making and strategy-executing of senior executives as they make day-to-day decisions to run the company. Therefore, their efficacy would play a vital role in determining the company's success and growth. Thus, option 2 is the correct answer.

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