Recently I’ve had a number of conversations that have sparked the question “What exactly does C-Suite” mean? Someone asked me the other day, “I am the owner and founder of a small company, am I in the C-suite?” Another colleague asked me, “I am a senior financial director at a large global non-profit, am I in the C-Suite?” Yet another asked “Is the C-Suite a room on the top floor of a tall building where executives meet?”
Before I disclose what I said to each, let’s look at the definition and purpose of the C-Suite. Then I’ll explain how we are interpreting the definition for the purposes of The Executive Presence Group’s mission.
What is the “C-Suite”?
For years, the term has been widely-used to refer to a corporation’s most senior executives. C-Suite got its name because top senior executives’ titles started with the letter C, for chief, as in chief executive officer, chief operating officer and chief information officer. These senior individuals are often referred to as “C-level” or part of the “C-suite”. And yes, in years past, these senior level people were all located on the top floor of corporate head quarters.
The purpose senior business titles are given to company employees is to identify the strategic and functional duties and responsibilities that they have in the organization. Titles are used in global enterprises, many non-profit organizations, educational institutions, partnerships, and sole proprietorships. The traditional three officers are chief executive officer (CEO), chief operations officer (COO), and chief financial officer (CFO).
Depending on the management structure of an organization, C-titles may exist instead of or are blended with other traditional executive titles, such as president, various types of vice presidents (e.g. VP of Marketing, VP Sales, VP Engineering), and general managers or directors of various divisions such as director of finance. In other words, in some organizations the C-title may or may not exist, but the responsibilities most often are the same.
There are other C-level positions that have recently emerged, some of which are sector-specific. For example, chief risk officer (CRO) titles are often seen in financial services companies. Technology companies will have a chief technology officer (CTO) to manage technology development.
A chief marketing officer (CMO) is seen as a key position where brand management is a high priority. A chief information officer (CIO) oversees IT (information technology) strategy, to support technology infrastructure. In creative/design industries, a chief creative officer (CCO), is responsible for keeping the overall look and feel of different products constant throughout a brand.
And why are titles important?
Because organizational structure defines how activities such as task prioritization, accountability, decision making, alignment of goals, supervision are accomplished and focuses the achievement of organizational goals to produce results. An organization can be structured in many different ways, depending on their objectives. Organizational structure has impact in two important areas. First, it provides the foundation for standard operating procedures and processes. Second, it determines who is involved in decision-making processes, and to what extent their views impact the organization’s actions. Having a leader position defined for a functional area, for example Southwest Airlines Senior Vice President Chief People & Administration Officer, is a way to create accountability, alignment and focus to “get everyone on the same page” regarding the hiring and engagement of employees.
Getting back to the questions posed to me “What exactly is the C-Suite?”, here’s how I’ve answered them . While the C-Suite has a specific definition, The Executive Presence Group has opened up the pure definition to include all senior level positions, combining classic C-Suite positions to include director positions, ownership of businesses, partnerships, and any senior level position in any size or type of an organization.
The Executive Presence Group has chosen to focus on a person’s aspiration to reach a senior level in a company. Whether it is a CEO in large global enterprise, or a Director of Finance in a small to medium company, an Executive Director at a non-profit, a COO in a partnership or a Founder in a sole proprietorship, we focus on the foundational leadership skills, personal development needs and career steps necessary to prepare you to get there…wherever “there” may be for you. To get to a senior leadership position, requires a plan and constant vigilance to adhere to your plan.
How will you move from the individual contributor, to manager, to senior ranks to the top of the organization chart?
What is your plan?
Our next blog will explain a few steps and key skills you will need to reach your goal.
Start your journey with us!
