There are several roles your executive leadership team structure supports. By properly understanding today’s leadership styles, you can organize a functional, productive team. Simultaneously, this allows you to establish a stable, profitable succession plan for your company. Properly structuring your team, you can create successful strategic plans, overcome unexpected hurdles, and develop new capabilities. As a small business owner, you must understand the fundamental roles to effectively manage your productive, rapidly-growing enterprise. Read on to learn about the top roles your executive leadership team structure supports.
Executive Team Leader
First, hire an executive leader to create a strong team structure. The executive leader motivates the team, provides direction and establishes ground rules. In addition, the executive officer assigns jobs, tasks and responsibilities to the other c-suite executives. Moreover, an corporate executive leader plans and conducts meetings to meet critical company goals. Additionally, the leader must manage teamwork, communication, and collaboration at the highest level of the company. Certainly, the executive leader plays a crucial role in productive leadership teams and organizations.
Secondly, every executive leadership team needs an operations executive. The chief operations executive develops strategies to determine the company’s overall direction. Typically, the COO will align core company functions with these goals. The operating officer oversees functions including purchasing, production, manufacturing and logistics management. The executive team relies on this leader to dictate strategy and direction for the operations of the company. For sure, a competent executive keeps the company operations running smoothly to achieve the organization’s goals.
Chief Financial Officer
Next, the chief financial officer has a major role in an effective executive leadership team. The CFO is held responsible to seek financial support, stability and forecasting for the company. Typically, chief financial officers raise money from investors, banks, and other kinds of lenders. This provides the liquidity to manage company objectives within financial budgets. Additionally, the chief financial officer also looks after internal assets such as real estate, inventory, and equipment. The chief financial officer understands the company’s income statements, cash flow and revenue projections. Of course, the executive leadership team needs a financial officer to make strategic decisions.
Chief Information Officer
Now, the chief information officer is another key role needed to develop an executive leadership team structure. This role supports core areas of modern technology within the organization. For example, the CIO manages advanced information within companies such as customer transactions, cloud applications, and backend code. An information leader has IT-driven decision-making skills. This way, the different types of leadership teams can rely on the CIO to cover the technological and security challenges of company goals. Of course, technical officers are in high demand for IT-based growth companies. The chief information officer is a role that every executive team needs to make crucial decisions for technology advancements.
Vice President Role
Of course, vice presidents are another fundamental role to support your executive leadership team. Vice presidents are tasked with enforcing authority over specific departments or operational sectors. For example, you can appoint a vice president to specialize in a wide range of areas such as marketing, sales, or communications.Team members in this position typically work as second or third in command under the Chief Executive Officer. Unlike the CEO, the vice president is a more active, hands-on profession that is involved in daily operations. Clearly, the vice president is a crucial role that supports and structures your executive team.
There are several roles your executive leadership team structure supports. First, an executive team structure needs a leader to provide direction, motivation, and ground rules for your enterprise. Next, the operations executive is essential to align your core company functions with your objectives. In addition, the executive team structure needs a chief financial officer for liquidity and company budgets. Moreover, you should also have a chief information officer to execute critical technology decisions. Furthermore, a vice president is essential for a more hands-on operational approach. Consider these points to learn about the most important roles the executive team leadership structure supports.