Large companies need the most qualified people to carry out different tasks and only a privileged few access these positions. These management positions are known by their acronym.
These are the terms of management positions that every business person should know:
Meaning of Management Positions.
1. Chief Executive Officer (CEO)
Managing Director. It is the highest corporate rank, they are in charge of making the highest level decisions in the vast majority of businesses.
The CEOs of the most successful companies can earn an average of $50 million a year, slightly less than what Ralph Lauren, CEO of his own company, earns. Ralph bills 66 million dollars annually.
2. Chief Operating Officer (COO)
Head of operations. They are the highest link in the entire chain of operations and are in charge of their good performance on a day-to-day basis at the company.
Apple’s current CEO Tim Cook was COO while Steve Jobs was still CEO.
If you want to know more management positions, keep reading.
3. Chief Financial Officer (CFO)
CFO. They are head over heels in financial decisions. Their position is vital and highly responsible, since the management of the company’s financial risk depends on them.
Currently in that position, one of the best paid is Safra Catz, who works for the Oracle company and invoices 46 million dollars annually without counting bonuses.
4. Chief Marketing Officer (CMO)
Head of marketing. Everything related to sales goes through this person. She is also in charge of seeking growth through product development and strategies. It is key that they are innovative and that they can communicate their vision to the rest of the group in order to execute it.
In 2013, the highest turnover among all American companies was David B. Fischer, CMO of Facebook, with 8 million dollars.
5. Chief Information Officer (CIO)
Chief Information Officer. His role is to establish, coordinate and evaluate IT (information technology) to guide the development and operation of the company’s technological infrastructure.
Procter & Gamble, one of the companies best known to all of us, paid its CIO, Filipo Passerini, $5 million in 2013.
These are just some of the most important positions in large companies. It should be noted that depending on the type of company, a large number of positions are opened. Like the CMIO (Chief Medical Informatics Officer) or CMO (Chief Medical Officer) in hospitals.
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