The CEO’s job is to develop goals and strategies for the growth of the company. These are usually with the knowledge of the board. These goals then get delegated to the appropriate manager in-charge. The CEO ensures that the employees are working towards the vision of the company. The CEO is the position that proves as an example for the rest of the company to follow.
The COO’s function in the company is reliant on the CEO and company’s needs. But typically the COO is responsible for daily operations at a company. Since the COO’s duties depend on the organization, there is no definite outline of their functional role
The COO’s relationship with the organizational culture is interesting. In companies where they are required to develop and establish the culture their role is on the enforcer (without actually forcing anyone). They are tasked with ensuring the company culture is understood, accepted, and followed by everyone in the company. In companies where the culture is not part of their primary responsibilities, the COO is like any other leader and is expected to uphold the culture and be an example for the rest of the employees.
The CFO’s relationship with the company’s culture is the same as any other leader. They must uphold and follow through with the requirements and prove to be an example for their department to follow. They are expected to lead by example, as are the other members of the C-suite. CEOs are faced with all the tough decisions to be made in an organization. There is a tremendous amount of pressure on a CEO to take the difficult call, make the right decisions, be the leader the company needs, and take the company to success. But they also face the added pressure of being compared to their predecessor. Another challenge CEOs face depends on whether they are internally appointed or hired from outside.
The challenges faced by a COO are varied since there is no one role the COO must fulfill. The nature of the role is dependent on the company’s and the CEO’s needs. This means they need to be well-versed in a number of subjects and skills that might be tasked to them. The challenge COOs face is that they must be able to adapt to what is required of them. This is why a COO needs to be extremely flexible and have a wide area of knowledge, skills, and expertise.
The CFO has the enormous responsibility of managing the financial well-being of the entire company. They need to be extremely skilled in their area of expertise. Theirs is the kind of job that cannot afford any mistakes. But their challenge extends beyond the company itself. They also need to be well-informed and well-prepared to deal with any uncertainty that the economy might bring. While this is not in their control, they are required to predict and prepare for economy related challenges. This requires them to be well-versed with trends and ups and downs in the market and the economy.
