The C-suite is often considered the most influential group of employees within a business. These individuals generally have a high level of experience in their specific department along with advanced leadership skills.
An employee develops these skills over time as they progress from using their functional and technical execution skills to having a more directional and strategic mindset. The skills learned at lower-level positions in a business help a C-level executive make sound upper-management decisions to positively impact the company.
There are a number of positions available at the C-suite level. Not all companies have or need all these positions to be filled. Here are some of the most common.
This is the highest level corporate executive position. The CEO is the face of the company and is responsible for most major decisions. This individual often has a prominent background in leadership and decision-making, and is finance-savvy. CEOs often hold other C-level or upper management positions prior to accepting this role.
This person is often considered the second in command under the CEO. The COO is tasked with ensuring a business’s operations run smoothly. They may focus on human resources, training, payroll, and administrative services. In some businesses, this role deals directly with the day-to-day operations of warehouses, inventory controllers, project managers, and others in an organizational position.
The CFO has a very important job of managing the finances of a company. This is at the top of the food chain for financial analysts and accountants. Duties may include portfolio management, accounting, investment research, and the ability to analyze all financial information. This includes assistance in budget forecasting, evaluating new opportunities, and financial risks.
The CMO is responsible for equipping the sales team or e-commerce team with the products and branding to be able to reach customers and secure transactions. These executives have to be skilled in analyzing customer behavior and determining key campaign initiatives to grow the company through marketing efforts. Marketing teams often have a lot of moving parts and director-level employees, all of whom ultimately fall under the leadership of the CMO.
The CIO usually starts their rise up the corporate ladder by developing technical skills and moving into a business analyst role. Not only do these individuals need leadership skills, but they also need advanced knowledge of coding, programming, and project management. Some companies refer to this role as the chief technical officer (CTO).
Here are some other examples that may be relevant for you as a business owner:
The type and number of C-level executives are different for each business.
Having a strong executive team is something that many investors want to see. Executives drive the vision of a company. Experience and leadership are pillars for any large and growing company whether it’s a corporation, limited liability company, or other legal entity.
C-level executives are usually the highest-paid employees in the company. Your small business may not have the resources to pay high salaries until obtaining a certain level of growth. Hiring too many executives too early can cause cash flow problems within the company.
The c-suite or c-level definition is a cluster of executives that resides at the highest level of a company hierarchy. Their title generally starts with the word “chief.”
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Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.