Management team

From ArticleWorld

A management team is the group of people that are responsible for the daily management of the operations of a company. This group is normally a set of well-rounded individuals with experience in every function critical to the business. This group is composed usually of three to six highly experienced individuals. The group can include founders, the top decision makers (CEO, CFO, CIO) as well as the managers of the major sections of the company such as the marketing, research and development, and plant managers.

The Chief Executive Officer (CEO)

This individual is normally the highest ranking corporate officer and reports directly to the board of directors. Responsibilities of this individual include the entire operations of the organization, the implementation of the board decisions and the maintenance of the smooth operations of the company in collaboration with other senior executives. The CEO is in most cases also the chairman of the board of directors in most organizations.

The Chief Operations Officer (COO)

This individual reports directly to the CEO and is responsible in a more hand on way for the operations of the company. The COO looks after issues such as marketing, sales, production and personnel. The design, operation, and improvement of the systems in the company are all the responsibility of the COO.

The Chief Finance Officer (CFO)

The CFO is responsible for the analysis and review of financial information, reporting of financial performance, the preparation of budgets and monitoring of costs and expenditure. This information is required for use by the board of directors and aids in decision making. It is also necessary for this information to be passed on to the shareholders and other regulatory bodies.