Last Sourced: 2017-08-01
This Article has been Edited for Accessibility
Corporate titles or business titles are given to company and organization officials to show what duties and responsibilities they have in the organization. Such titles are used in publicly and privately held for-profit corporations. In addition, many non-profit organizations, educational institutions, partnerships, and sole proprietorships also confer corporate titles.
The highest-level executives in senior management usually have titles beginning with "chief" forming what is often called the C-Suite. The traditional three such officers are chief executive officer (CEO), chief operations officer (COO), and chief financial officer (CFO). Depending on the management structure, titles may exist instead of or are blended/overlapped with other traditional executive titles, such as president, various designations of vice presidents (e.g. VP of marketing), and general managers or directors of various divisions (such as director of marketing); the latter may or may not imply membership of the board of directors.
Certain other prominent positions have emerged, some of which are sector-specific. For example, CEO and chief risk officer (CRO) positions are often found in many types of financial services companies. Technology companies of all sorts now tend to have a chief technology officer (CTO) to manage technology development. A chief information officer (CIO) oversees IT (information technology) matters, either in companies that specialize in IT or in any kind of company that relies on it for supporting infrastructure.
Many companies now also have a chief marketing officer (CMO), particularly mature companies in competitive sectors, where brand management is a high priority. A chief value officer (CVO) is introduced in companies where business processes and organizational entities are focused on the creation and maximization of value. A chief administrative officer may be found in many large complex organizations that have various departments or divisions. Additionally, many companies now call their top diversity leadership position the chief diversity officer (CDO). However, this and many other nontraditional and/or lower-ranking titles (see below) are not universally recognized as corporate officers, and they tend to be specific to particular organizational cultures or the preferences of employees.