A legal entity where group of persons get united to conduct profitable as well as nonprofit business is simply corporate. The ranks in the corporate world are always arranged in a systematic hierarchy with the boss at the highest level and employees at lower level.
The high and mid-level executives are provided with a three letter initials beginning with a “C” and having an end with an “O”. There are many ranks in corporate rank hierarchy so all cannot be explained here since the counting can cross even hundred bars so we are here just explaining the major ranks in this hierarchy. These are:
The presiding person leading the business and possessing the highest authority in the company is chairman. The chairman leads and influences the board of the directors and chief officers to manage the financial, human, technical and environmental working of a corporation.
Chief Executive Officer (CEO)
The CEO is also referred as an executive chairman and takes the command in hand in absence of the chairman. CEO is the top ranking in the executive officers rank.
Chief Operations Officer (COO)
The chief operation officer is normally provided the title President, following CEO rank. A COO can be explained as a director of operations in the corporate sector with a responsibility of handling and managing the daily operations of the organization. The professionals at this level focus on the organizational strategy, objectives and plan of actions to be followed. The day today management of organization is also carried out at this level.
Chief Financial Officer (CFO)
A chief financial officer is a corporate officer designated at a high level in the corporate hierarchy for the purpose of managing finances for the organization. A CFO is directed to report to the CEO. In some organizations the term Treasures is used to define the CFO.
Chief Administrative Officer (CAO)
As the designation implies, a CAO is basically responsible for handling and organizing administrative management of the corporations. CAO rank is considered one of the highest level ranks in the corporate rank hierarchy.
Chief Information Officer (CIO)
A CIO is a senior level in the corporate rank hierarchy responsible for the maintenance and establishment of the organization’s strategy and information ardently to ensure that the company’s information and data assets are protected adequately.
Chief Technology Officer (CTO)
CTO is sometimes also termed as a chief technical officer. This is among the high level ranks in hierarchy mainly responsible for managing company’s technology department along with research and development process.
Chief Marketing Officer (CMO)
CMO is a title designated to a professional whose responsibility is to manage different marketing activities in the corporation. CMO reports directly to a chief executive officer. This is a mid-level rank in the hierarchy.
Chief Human Resources Officer (CHRO)
CHRO is a mid-level rank in the hierarchy taking care of the human resources department for the corporation. CHRO reports to the chief executive officer only.