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Business Structure Basics 9

The management team is responsible for the company's day-to-day operations and profitability. Key roles include the CEO, who oversees the entire operations and implements board decisions; the COO, who handles operations like marketing, sales, and production; and the CFO, who analyzes financial data, prepares budgets, and ensures the company's financial health.

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Thanu Suthatharan
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30 views1 page

Business Structure Basics 9

The management team is responsible for the company's day-to-day operations and profitability. Key roles include the CEO, who oversees the entire operations and implements board decisions; the COO, who handles operations like marketing, sales, and production; and the CFO, who analyzes financial data, prepares budgets, and ensures the company's financial health.

Uploaded by

Thanu Suthatharan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Management Team

As the other tier of the company, the management team is directly responsible
for the company's day-to-day operations and profitability.

Chief Executive Officer (CEO) As the top manager, the CEO is


typically responsible for the corporation's entire operations and reports
directly to the chairman and the board of directors. It is the CEO's
responsibility to implement board decisions and initiatives, as well as to
maintain the smooth operation of the firm with senior management's
assistance. Often, the CEO will also be designated as the company's
president and therefore be one of the inside directors on the board (if
not the chairman). However, it is highly suggested that a company's
CEO should not also be the company's chairman to ensure the
chairman's independence and clear lines of authority. (See also: 3
Reasons to Separate CEO and Chairman Positions.)
Chief Operations Officer (COO) Responsible for the corporation's
operations, the COO looks after issues related to marketing, sales,
production and personnel. Often more hands-on than the CEO, the
COO looks after day-to-day activities while providing feedback to the
CEO. The COO is often referred to as a senior vice president.
Chief Financial Officer (CFO) Also reporting directly to the CEO, the
CFO is responsible for analyzing and reviewing financial data, reporting
financial performance, preparing budgets, and monitoring expenditures
and costs. The CFO is required to present this information to the board
of directors at regular intervals and provide it to shareholders and
regulatory bodies such as the Securities and Exchange
Commission (SEC). Also usually referred to as a senior vice president,
the CFO routinely checks the corporation's financial health and
integrity.

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