1. Formal authorization or expression of an action, decision, intention, opinion, transaction, etc. 
2. Proposition put before a meeting of stockholders (shareholders) or the directors of a firm for discussion,approval or adoption. Resolutions are of four common types: (1) Elective (see elective resolution), (2) Extraordinary (see extraordinary resolution), (3) ordinary (see ordinary ... Read more

USAGE EXAMPLE

When the company's profitability decreased steadily over a five year period, the shareholders passed aresolution to decrease executive salaries as a way to reduce expenses.