Abbreviations CEO, CFO, COO, CMO, CXO, The Key Positions Job in a Company
Starting a business project is a process that can seem long. Among the documentation to establish the business, build the platform and many other steps, one of the most important tasks is the selection of key and initial positions to start operations. That is why today we want to tell you about the meaning of the acronym or abbreviations of: CEO, CFO, COO, CMO, CXO, CTO, CMO, CDO, CIO, CCO, DEO, CHO, CHRO, CSO, PRO, PMO.
At first it can be chaotic as the entrepreneur has to become a multi-tasker and take care of themselves from PR, sales, customer service to technology. However, the moment comes when it is necessary to hire staff to cover the first level needs.
In the financial sector, acronyms are common language. The lack of mastery of this info can quickly be confusing. However, certain acronyms must be mastered because of their popularity and their importance at the level of a company because they are also called the jobs of tomorrow.
CEO: CHIEF EXECUTIVE OFFICER
The term CEO has replaced the term chairman and chief executive officer. However, their functions remain relatively the same. As the first person in charge at the level of the firm, the CEO is the regulator of the last word in the whole process of decision-making.
The definition of the various strategies and general objectives belongs to him and he must embody the values of the company. His main role is a leader and having the vision for how to make the company better and more profitable..
CFO: CHIEF FINANCIAL OFFICER
This person is the most senior employee in the company. Carry out all financial planning, must have knowledge of economics, finance and management. Know what is the monetary state in which the company is, make budgets, projections and investments. One of your tasks is to find the balance point and maximize the available resources. It must be analytical, visionary and strategic.
The CEO is the most senior employee in the company, and who reports directly to the Board of Directors. The COO reports to the CEO, and when necessary to the Board, but ultimately is the CEO’s right-hand person.
Tasks of CFO | Essential Duties and Responsibilities of a CFO: A Comprehensive Guide
COO: CHIEF OPERATING OFFICER
The Chief Operating Officer can be translated as Director of Operations. In close collaboration with the PGD, his main role is to supervise and direct all operations relating to the creation and distribution of a product. This person is in charge of the day-to-day operation of the company.
He then plays a key role in the activity of a company because he must ensure the good commercial and operational development of a product as well as the profitability of the company.
CMO: CHIEF MARKETING OFFICER
The CMO is none other than the director of marketing. He is the first person in charge of the marketing sector. He is therefore responsible for the design and implementation of strategies aimed at developing a brand or product.
The missions and tasks of the CMO then focus on the commercial aspect, because one of his main objectives is the growth of the company. CMO works in collaboration with the sales area; the projection you have will directly influence the audience or target you want to attack.
CXO: CHIEF EXPERIENCE OFFICER
The CXO, known as the Customer Director, is responsible for optimizing and improving the experience of customers who use the products or services offered by the company. Responsibility for the client portfolio is one of its main missions. This includes, among other things, retention and the development of the portfolio in question.
CDO: CHIEF DIGITAL OFFICER
Due to the advancement of current digital technology, the CDO is becoming a necessity for companies, especially if it is a group focused on BtoC services. Also known as Director of Digital Transformation or Director of Digital, he works closely with the service or marketing department in order to be able to define the needs of each user.
CDO: CHIEF DATA OFFICER
The Chief Data Officer, also known as Chief Data Officer who is in charge of the organization’s collection and processing of data used or generated by the business. The results obtained will then constitute a basis for the operational and organizational strategy of the company.
CIO: CHIEF INFORMATION OFFICER AND CTO: CHIEF TECHNOLOGY OFFICER
This is the director of information systems at the enterprise level. He is the first person responsible for IT strategy at the company level. In close collaboration with the CTO, together they will define the best software choices and innovations to be made. The CTO is the person in charge of the technological needs of a company and he is also the head of the research and development part of the company.
CCO: CHIEF COMMUNICATION OFFICER (Director of Communication)
It is the person in charge of the notoriety of the company who develops the branding strategies concerning the brand and is in charge of contacting the media. Its objective is to create and maintain a good image of the company and with it the good perception of its current and potential customers.
As the company grows, so do its responsibilities. Investing in people trained to carry out specific activities will ensure success. Founders and partners must not become jokers and everyone must have their activities delimited.
DEO: DESIGN EXECUTIVE OFFICER
The primary mission of the DEO is to apply and use design to solve business-level problems. The DEO must have a very creative and innovative mind. He must also understand the traditional systems and be proactive at the level of society.
CHO: CHIEF HAPPINESS OFFICER
The CHO can very simply be defined as being responsible for happiness within a company, because the happier the employees are, the more productive and involved they are in their work. Its missions boil down to the study and establishment of a good working climate, to improve internal relations in order to create a social bond conducive to team solidarity. He must also find a strategy to prevent obstacles from hindering the work of employees.
CHRO: CHIEF HUMAN RESOURCES OFFICER OR CPO: CHIEF PEOPLE OFFICER
Also known as the Human Resource Manager who is responsible for the smooth running of the business. Beyond the administrative aspect, de CHRO supports the human side of each person by supervising and protecting them. To do this, it is responsible for ensuring a good climate of social dialogue between management and employees.
Read also: Reasons to Hire an External Consultant | Advantages and Limits
CSO: CHIEF SCIENTIFIC OFFICER
The CSO is responsible for scientific research at company level. Its main role is to lead, guide, coordinate and harmonize the implementation of the company’s research policy.
PR(O): PUBLIC RELATIONS (OFFICER)
The Public Relations Officer is responsible for communication at company level. His main function is to manage the company’s media relations in order to maintain a quality relationship between the company, customers and the public.
PMO: PROJECT MANAGEMENT OFFICER
The PMO appoints the project manager at company level. Its main objective is to reduce costs related to a project without harming its realization. He is also responsible for all the documentation related directly or indirectly to the execution of the project on which he is working.
The new designations meet very specific objectives. In some cases, it is to restore the image of the profession, in other cases, it helps to define the profession and erase the negative connotations of the public. Today’s world is constantly changing, professions evolve and change accordingly. Basically, the profession remains the same and in the majority of cases, they have always existed. However, a much sharper definition of the tasks will make them the jobs of tomorrow. The goal is then to make the job much more interesting and to attract more and more new employees while promising them a sparkling future.
Sources: Tira, DR Diane Hamilton, MasterClass
Photo credit: padrinan via Pixabay
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