Understanding your C-Suite!

Why do we need leaders?

We spend most of our time at work. Our company is our modern-day TRIBE! Like any other tribe it has traditions, symbols, and language so the culture of a company is like the culture of a tribe. Some have strong cultures, and some have weak cultures and like all tribes some have strong leaders, and some have weak leaders, but they all have leaders.

Leaders are the ones who venture into the unknown, they rush toward danger. They put their own interests aside to protect the tribe or to pull them into the future.

Leaders would sooner sacrifice what is theirs to save the tribe AND they would never sacrifice what is the tribes to save what is theirs.

And when the tribe feels sure the leaders will keep them safe, they will march behind the leaders and work tirelessly to see their visions come to life and proudly call themselves, family.

Modern leadership is creating a paradigm shift in business where the golden thread is a modern approach to business, and where the focus is not on the money but on the people.

THIS IS A PEOPLE REVOLUTION!

How should you lead?

Leaders must completely believe in and live the Vision of the company. They must understand and embrace the values that the vision is built on so that they create a Circle of Safety for the tribe.

TREAT ALL PEOPLE EQUALLY

In the future, equality will be the key to unlocking a company’s full and sustainable value. That does not mean it is easy to achieve but those who fail to try will be on the wrong end of history. As a leader you should be fully committed to equality in all spheres of the business. Simply, what is good for one person is good for another.

Our Mission as leaders

To deliver a culture of enthusiasm and prosperity where we regard the success of others as being as important as our own and to think well of ourselves proclaiming this fact to the world, not in loud words, but in great deeds.

To base our culture on the conviction that, if you have disciplined people, you don’t need hierarchy. When you have disciplined thought you don’t need bureaucracy. When you have disciplined action, you don’t need excessive controls.

When you combine a culture of self-discipline with an ethic of entrepreneurship, you get the magical alchemy of great performance. 

What do leaders do?

C-Suite gets its name from the titles of the company’s senior executives, which tend to start with the letter C, for “chief,” as in Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Operating Officer (COO), Chief Administrative Officer (CAO), Chief Marketing Officer (CMO) etc etc. C-level members work together to ensure a company stays true to its established plans, policies and culture. When it comes to executive-level positions within an organization, assigned titles and the functions associated with each can become muddled quickly. Smaller businesses cannot always afford an entire c-suite so it is important that the tasks are covered by outsourcing the roles.

Chief Executive Officer.

A CEO's role varies from one company to another depending on the company's size, culture, and corporate structure. CEOs typically deal only with very high-level strategic decisions and those that direct the company's overall growth. CEOs often are more hands-on and involved with day-to-day functions. CEOs must set the tone, vision, and the culture of their organizations. Because of their frequent dealings with the public, sometimes the chief executive officers become famous.

(This role is mostly undertaken by the company’s founder and a C.E.O can be the only staff member)

Chief Administration Officer.

A CAO, or chief administrative officer, is an executive who oversees an organization's day-to-day operations. They typically act as the head of departments like finance, human resources and sales, or any department that takes part in daily tasks or customer-facing interactions. A Chief administrative officer reports to a company's chief executive officer and can also help companies improve their performance by reviewing processes, developing new policies for an organization's departments, managing projects and preparing reports that inform board members about a company's performance. Here are a few more common job duties for a chief administrative officer:

Oversee accounting and banking processes

Create plans to respond to company losses

Train new managers

Perform manager evaluations

Attend regular meetings with the C-suite

(This role is very often outsourced to companies like Business Boosters)

Chief Operating Officer.

A COO, or chief operating officer, is an executive who manages production sales and personnel within a company or organization. Chief operating officers operate at the executive level and can also work with other top-level executives to make strategic plans for maximizing the efficiency of a company's operations. A COO can help create forecasts, prepare financial reports, conduct performance reviews for staff and work on marketing campaigns that can contribute to a company's growth. Chief operating officers can also delegate tasks to the teams they lead and implement new programs that promote health and safety standards in the workplace. Here are a few more job duties that a chief operating officer usually has:

Set KSIs for a company's departments and management (KSI = Key Success Indicators)

Monitor KSI results and adjust expectations

Making company goals to satisfy and retain and attain personnel and clients

Attend conferences and meetings to keep up to date with industry trends and compliance.

 CAO vs COO

Here are a few ways that chief administrative officers and chief operating officers are different:

Focus

One difference between a chief administrative officer and a chief operating officer is the aspect of business that each of the positions focuses on. As a chief administrative officer oversees a company's day-to-day operations, they usually focus on finding ways to improve specific elements of a company's operations. This can involve acting as the head of certain departments, like finance and human resources, to gain a thorough understanding of how the departments work and where they might be able to improve their processes.

A chief operating officer focuses more on the operations of a company. They also sometimes work most frequently on production and production processes to maximize a company's productivity. This means that a COO might help with projects like recruiting and training sales personal, finding new locations for sales offices, choosing upgrades for a company's technology and creating new processes for completing projects that can increase efficiency and productivity.

Skills

A chief administrative officer and a chief operating officer can also differ in the skills they develop and use in their jobs. Chief administrative officers typically have excellent interpersonal and communication skills that help them make interactions with employees and clients positive and professional, which can be especially helpful in their work with human resources and client-facing job responsibilities. A CAO also needs a strong attention to detail to ensure they consider all aspects of business when they evaluate a department's performance and needs.

A chief operating officer usually needs highly developed strategic and decision-making skills, as much of their job involves choosing the right improvements to ensure a company's production. They also can benefit from having an in-depth knowledge of business and marketing concepts that can inform how they design and guide the implementation of new marketing and sales initiatives.

Organization can also be crucial to a COO, as they can oversee multiple departments or initiatives in a company at one time and need to ensure they devote adequate time and effort to each task.

Interactions with the CEO

Chief administrative officers and chief operating officers can also differ in how they work with a company's chief executive officer. While both positions typically report to the chief executive officer, the two roles communicate with the CEO in different ways. A chief administrative officer can give updates to the CEO and hold briefing meetings where they offer information about specific projects and departments. Chief administrative officers might also facilitate communication between the CEO and other department heads or staff members by relaying messages and preparing reports.

For a chief operating officer, communication with the chief executive officer is much more frequent and direct. A chief operating officer is often considered the right hand of the chief executive officer, which means they usually help the chief executive officer by communicating with them about strategies, updates and improvements that impact the company as a whole. Many chief operating officers also look to chief executive officers for guidance in career development, as some chief operating officers aspire to advance to the position of chief executive officer in the future.

Chief Marketing Officer

A chief marketing officer (CMO) is an executive who is in charge of developing and overseeing marketing and advertising plans. The CMO reports to the CEO and is part of the C-Suite team.

The chief marketing officer must collaborate and keep pace with the other C-executives. This is vital if the company is to adapt in today’s rapidly shifting market.

The chief marketing officer oversees developing marketing plans to increase sales and growth.

CMOs also create strategies to promote brand recognition and give the company a competitive advantage. Product development and distribution chain management are important elements of a CMO’s focus.

Chief marketing officers are responsible for not only their organization’s marketing strategy but also product development, customer service, branding, pricing and sales management.

The main role of a chief marketing officer is to supervise the company’s position and image in the marketplace. In this context, the term ‘marketplace’ means ‘market’ in the abstract sense, i.e., the business environment. The CMO also determines future market approaches, customer outreach, and manages public relations (PR). Today, the CMO’s position is much more important than it used to be. Marketing experts say that this is due to advances in technology and communications. We can now reach customers via their smartphones, social media, AI, and the Internet.

The day-to-day

Typically, a chief marketing officer will:

• Research the experience of the customer in interacting with the organization and drive improvements

• Drive change across the organization about elements such as social media or digitization

• Build brand awareness and ensure that all communications align with the brand

• Meet with the C-Suite team regularly

• Attend board meetings as a member of the board and take part in discussions

• Take responsibility for the look and content of the website(s) and social media outlets, maximizing visitor conversion

• Acquire reliable and comprehensive data on sales and customer experience from different departments

• Use CRM (Customer Relationship Management) systems

• Drive investment in digital marketing and roll out technological upgrades

• Establish the marketing budget and track return on investment

• Commission market research and understand how markets are changing

• Communicate regularly with other departments and executives, reporting on marketing activity

• Build a marketing team and mentor them

• Build relationships with creative, digital and media agencies

• Contribute to product development

• Use analytics to drive product development

• Set KSIs and report to the board on progress

• Spot opportunities in the market and drive the growth of the business

  
  

Chief Financial Officer.

A chief financial officer (CFO) is the senior executive responsible for managing the financial actions of a company. The CFO's duties include tracking cash flow and financial planning as well as analyzing the company's financial strengths and weaknesses and proposing corrective actions. The role of a CFO is like a treasurer or controller because they are responsible for managing the finance and accounting divisions and for ensuring that the company’s financial reports are accurate and completed in a timely manner. Many have a CPA designation.

The CFO reports to the chief executive officer (CEO) but has significant input in the company's investments, capital structure, and how the company manages its income and expenses. The CFO works with other senior managers and plays a key role in a company's overall success, especially in the long run. For example, when the marketing department wants to launch a new campaign, the CFO may help to ensure the campaign is feasible or give input on the funds available for the campaign.

The CFO may assist the CEO with forecasting, cost-benefit analysis, and obtaining funding for various initiatives. The CFO role is important for focusing on compliance and quality control to business planning and process changes, and they are a strategic partner to the CEO. The CFO plays a vital role in influencing company strategy.

The CFO must report accurate information because many decisions are based on the data they provide. The CFO is responsible for managing the financial activities of a company and adhering to generally accepted accounting principles (GAAP).

CFOs must also make sure the company adheres to regulatory guidelines pertaining to the industry the company operates in and Acts of Parliament the affect the company’ compliance to the laws such as fraud prevention and disclosing financial information.

Business Boosters’ C-Suite model and coaching will always consist of people who inspire a tribe,  who have been attracted to the company by recognizing its culture, the Golden Thread that flows through the whole ecosystem and has its foundation in your clear and boldly stated vision and values. Your tribe will grow by attracting people who want to be inspired to survive and thrive.

Your customers will be attracted to work with your people because your culture will attract those who want to be cared for and respected as people.