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Executive Management Personnel Work Together as a Team to Accomplish Goals
Posted :06-Feb-2014
Keyword :executive management
Author :Admin
Description :

Generally, a team of key individuals at the highest levels of organizational management is referred to as executive management

 

This phrase is interchangeable with others, such as senior management, upper management, higher management, seniors, or management team. These key personnel have specific executive powers that have been granted to them by the shareholders and/or the board of directors of the company for which they work. In most companies, the only level of management and responsibility higher than executive management is the board of directors or the company owners. However, these boards of directors and owners, as a rule, delegate responsibility for the day-to-day activities of the business enterprise to executive management. Executive management is responsible directly to the board of directors and the shareholders or owners. Reports from these key personnel go directly to the highest levels of the company.

Executive management in any particular company generally includes the chief managers of the firm’s product line, manufacturing, and/or geographic units. These chief managers include those who are involved directly in day-to-day management of manufacturing, research and development, quality control, sales, marketing, finance, personnel, facilities maintenance, real estate, legal, and other facets of a successful business enterprise.

 

Those who are directly responsible for managing profitability and day-to-day operations of a company have titles. These titles are understood by business enterprises on an international level. For instance, if one were referring to a Chief Financial Officer in China, for example, a management team in Canada would know the exact responsibilities held by that member of executive management.

 

The Chief Executive Officer is the top manager in a corporation. He is typically responsible for the entire operation of the enterprise. The CEO reports directly to the chairman of the board and to the board of directors. Often, the CEO has been designated as the chairman of the board, so his responsibilities lie in reporting to the other members of the board of directors. The CEO is tasked with implementing the board’s decisions and initiatives. With the assistance of the remainder of executive management personnel, he maintains successful operation of the business of the company. Frequently, the CEO also holds the position of president of the company. It is rare when a CEO is not a member of the board of directors.

 

 

The Chief Financial Officer holds a position of great responsibility, as he or she is directly responsible for the financial performance and budgets of the company. He or she is tasked with checking the company’s financial integrity and success. The CFO reports to the board of directors and shareholders about the financial status of the company. Additionally, this person is in charge of providing financial information to regulatory bodies. The CFO can also be known as a senior vice president.<./p>

 

Another executive management position is that of the Chief Information Officer. Today’s companies, regardless of size, are fundamentally dependent on computers, software, and other information technology. The CIO is focused on technology on a daily basis, including computer hardware, software platforms, and other aspects of the information business. This person is frequently the director of Information Technology and sits on the board of directors. Some companies have a Chief Technology Officer who reports directly to the Chief Information Officer. The CTO may be more directly involved in hands-on operation of the technology departments.

 

In large corporations, executive management may include a Chief Visionary Officer, or CVO. This advisor to the Chief Executive Officer has comprehensive knowledge of the business of the corporation. It is his or her job to steer the company along the right course for future success. A Chief Visionary Officer may have the attributes of each of the other C-level executives. This important member of executive management defines corporate strategies for future growth. He may possess the core competencies of the entire body of executive management.

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