C-suite 101

What is a C-suite? By dictionary definition, a C-suite is a term used to describe corporate officers and directors. The term is derived from the use of the letter C in most high-level positions, such as Chief Operating Officer. There are many different positions involved within the C-suite sector. Such as the Chief Information Officers (CIOs), Chief Marketing and Sales Officers (CCOs), Chief Financial Officers (CFOs), Chief Human Resource Officers (CHROs), Chief Executive Officers (CEOs) to name a few.

Chief Information Officers must know how to create business models and be able to direct others below them on what is needed to be done, they must not only know how to use and understand new technology, but also be able to understand and apply business strategy. On this side of 2008 CIOs jobs became more about managing the right projects well. The future of this position requires a “hybrid” CIO, someone who is business savvy, but also with experience with analytics, organizational design, as well as potentially having a commercial background.

Chief Marketing and Sales Officer positions first occurred around the start of the twenty first century, and about 200 positions have been added worldwide with 50 of them being added in 2008 alone. CCOs will be working with employees that have grown up in the digital age, and with consumers that expect everything to continue to become faster and easier to use. As time has progressed this position has become more complicated with the combining of the marketing and sales positions, but they must work effortlessly and seamlessly together to give the consumer everything that they want at the speed that will not slow down.

Chief Financial Officers must be able to develop strategies for risk management, as well as be able to develop and implement systems for budgeting and tracking performance. CFOs prior to the 2000s was mainly responsible for the finances of the company and making sure that everything was being reported correctly, and to manage the checks and balances of the company. Today though CFOs also work with the CEOs and heads of the business to find new opportunities and to weigh their risks and rewards. Also, some may have to work and regulate the finances of their companies outside of the borders of the United States if it is a global company. The future CFOs will need to work on a global market within many different time zones, and they will also work on non financial ways for the company to grow.

Chief Human Resource Officers must be able to design a plan for success, and implement talent that will provide a competitive edge. Even with everything CHROs provide for the company, they are still struggling to earn their spot in the C-suite. Recently, this position has been being filled with fewer HR managers, but with more managers from other fields such as operations, marketing, or corporate law. The future of this position will need to be able to, and be comfortable working with employees from a diverse background. As the companies become more global CHROs will need to be able to work with different cultures.

Chief Executive Officers have skills such as strong communication, empathy, collaboration, and must be able to build trust. Many CEOs owe their spots to the board, and not as often to their predecessor. CEOs are also the face of the company, so they must be able to elicit trust from the public.

The future of the C-suite will be made up of leaders with soft leadership skills. People who can easily portray their thoughts to others, but at the same time sitting back and hearing the thoughts of others around them. They must also be able to work on the global scale and with many different cultures.

Signing out
~Liz

Resources:

“C-Suite Definition.” BusinessDictionary.com, Business Dictionary, www.businessdictionary.com/definition/c-suite.html.

Fogarty, Kevin. “The One Skill You Need to Reach the C-Suite.” Theladders.com, Ladders, 1 Feb. 2010, www.theladders.com/p/853/one-skill-you-need-to-reach-the-c-suite.

Groysberg, Boris, et al. “The New Path To the C-Suite.” Harvard Business Review, Career Planning, Mar. 2011, hbr.org/2011/03/the-new-path-to-the-c-suite.