Every successful organisation in the world needs a strong leadership team. The C-Suite is at the centre of this structure. A great C-Suite will allow an organisation to thrive and achieve their long-term aims. But what exactly does this term mean?
The role of the C-Suite is to develop, plan and execute cross-departmental policy. They are the top managers who are in charge of running the company. We’ve put together some of the main responsibilities of the C-Suite.
What Are The Responsibilities of the C-Suite?
The main responsibility of the C-Suite is to ensure good processes are put into place which allow the organisation to function effectively. They develop strategic policy to ensure the mission of the company is fulfilled. Alongside this, each of the members then have their own duties.
The C-Suite may include the following positions:
- CEO (Chief Executive Officer)
- COO (Chief Operating Officer)
- CFO (Chief Financial Officer)
- CSO (Chief Security Officer)
- CSO (Chief Sustainability Officer)
- CIO (Chief Information Officer)
- CMO (Chief Marketing Officer)
- CDO (Chief Data Officer)
This is by no means an exhaustive list. The relative power of every executive varies between organisations. To take one simple example, the CFO of a financial organisation will likely be a far more influential officer than in the majority of companies.
The aim of the C-Suite is for each of these varied positions to come together cohesively. When the organisation’s financial policies and marketing policies function in unison, it will create a more effective company structure.
The C-Suite is led by the CEO who, in most companies, reports directly to the Board. The CEO’s role in the C-Suite is to oversee these management positions and ensure they all work together.
What Is The Difference Between the C-Suite and the Board?
The Board of Directors is the governing body who set out the long-term purpose of the organisation. They will outline goals for the future by developing organisational values.
It is then the responsibility of the C-Suite to put these goals into action as best they can. Using their management influence, they will develop strategies to realise the ideas of the governing body. They are the top employees of the company – but they are still employees.
In some organisations, the Board will have a greater influence on the day-to-day running. Companies with an executive Chairman may see more integration between their governance and management structures. This is something that depends on the individual company framework and the character of the Chairman.
Often, members of the C-Suite attend Board meetings, and some are even members of the Board as executive directors. It may be useful for the Board to hear financial reports directly from the CFO – rather than second-hand from the CEO.
What Are The Advantages and Disadvantages of Including the C-Suite on the Board?
An effective Board will truly understand the company they are leading. The C-Suite are the people who are at the very heart of the organisation, making day-to-day strategic decisions and experiencing the organisational framework in person. It’s essential that they have a good relationship.
A natural development of this is that some Boards find it useful to include members of the C-Suite on the Board. Some companies may even choose to have a joint Chairman and CEO. This includes many high-profile figures such as Mark Zuckerberg at Meta or James Quincey at Coca-Cola.
One of the main issues with this model is the high level of responsibility that comes with being an executive director. In some cases, it can lead to a conflict of interest. For example, this could make members of the Board responsible for voting on their own pay – which is evidently a problematic situation.
In the end, it depends on the individuals. A Board which is able to implement effective measures to ensure limitation of power and an executive director who is capable and responsible can make a great combination.
How Can Convene Support Your C-Suite?
The software you use to hold a virtual meeting is absolutely crucial to achieving fluent organisational communication. Convene is an award-winning Board Portal, designed to digitise and streamline your meeting processes from start-to-finish. Now available fully integrated Microsoft Teams, our comprehensive software has numerous features to ensure fluent communication before, during and after meetings:
- A Document Library with role-based access to ensure your sensitive documents are protected.
- A built-in Audit Trail so you can be sure you are compliant with all regulations.
- Integrated Video Conferencing so you can make the switch from remote to hybrid working seamlessly, whilst still viewing your Board Pack all on one screen.
- Surveys, with the option for anonymity, so you can be sure you are aware of your employees' opinions.
- Accessibility Features, including text-to-voice, which makes us the leading accessible Board Portal.
If you’d like to learn more about how Convene can help your organisation achieve better management, please don’t hesitate to book a demo today!