The Role of Top Level Management in Organisations
Generally, there are three layers of management – top, middle and lower. The top layer has an administrative role, while the middle and lower layers have executive and supervisory responsibilities. At each of these distinct levels managers have different duties. Today, we will focus on the role of the top management and give you an insight of their function in a company.
Top level management roles in a company
Chief Executive Officer
The Chief Executive Officer (CEO) is the person who reports to the board of directors. This manager is the highest ranking manager in the organization. The CEO develops the strategy of the company and is response for its success. Part of the CEO’s responsibilities include meeting other top level managers and ensuring their areas of work are in line with his vision. The main role of this manager is to macro manage and provide vision. The CEO usually leaves operations and performance details to the middle level management.
Chief Operating Officer
The Chief Operating Officer (COO) is the second-ranking manager in a company. This professional is response for the daily operations of the organisations. The COO reports directory to the CEO. The typical work of this manager is ‘behind-the-scenes’ and is usually focused on implementing the CEO’s vision by using available company resources.The COO is also in charge of monitoring results, efficiency and performance.
Chief Financial Officer
The Chief Financial Officer (CFO) manages on a macro level the organisation’s finances. The CFO meets with other top level management to discuss and approve financial plans and budgets. Probably the most important function of the CFO is ensuring that financial controls meet all regulations, payment obligations and tax reporting.
Chief Information Officer
The Chief Information Officer (CIO) oversees the technological needs of an organisation. This specialist determines how computer systems and networks are implemented and maintained. The CIO frequently meets with the COO and CFO to discuss forecasts and technological requirements. A successful CIO must come from information computing background, as he must manage the use of hardware, software and networks in a company. Here’re some of the other responsibilities chief information officers have:
- Data security
- Networking needs
- Outsourcing computing needs
- Seminar and conference attendances
Today we dove into the world of top level management. You should now have a clear understanding of the functions which CEOs, COOs, CFOs and CIOs have in a company. Interested to learn more about the business structure of an organization?