A “management team” must be put together as you create your business plan, with careful consideration given to the essential positions that must be filled and the people who should hold them. Avoid taking the easy route by not appointing close friends and family members to important jobs just because of who they are. There are two requirements to support adding someone to your management team. First, does the person have the education and training necessary for the position? Second, does the person have the credentials to back up their abilities? a management team frequently changes over time. Until the business expands and can afford the additional team members, members of your team may wear many hats. In this blog, we will discuss Lead Management & key personnel positions in a Company.
Lead Management Positions
Following are some Lead Management positions:
- Chief Executive Officer (CEO) – This individual will be the company’s driving power; he or she will make things happen, gather the resources needed to support the business, and launch the product. The CEO is the highest-ranking employee in a company and is ultimately in charge of making administrative decisions that affect how the business is run on a daily basis.
- Chief Operating Officer (COO) – This person, who may also be known as an organizer, an inside manager, or an operations specialist, is in charge of ensuring that business operations run efficiently. He or she is in charge of seeing that the necessary job is completed in a timely manner and with accuracy. It is vital to have an appreciation for handling details and an awareness of business specifics.
- President – Several businesses chose to name a president rather than a standard CEO. While a company’s “president” has many of the same duties as a CEO, they may also take on extra obligations that traditional CEOs might not. Some of the tasks handled by the COO and CFO may be performed by the president. Yet, when a company expands, the president’s position may change from general executive responsibilities to more “specified” tasks like managing top-level decisions.
- Vice President – Serving in an “operational role,” the vice president of a firm starts the president’s decisions and plans by educating managers and team leaders on various tasks. In addition to other roles, vice presidents typically control organizational structure and company operations.
- Vice President of Marketing or Marketing Manager - In order to succeed, a business must sell its products to customers. This position requires someone with experience in both marketing and the relevant field.
- Chief Financial Officer (CFO) or Controller – You might want to create two positions or merge the two roles into one. One role’s duty is to raise capital, which entails looking for investors and dealing with banks, lenders, etc. Another team member, such as the CEO or general manager, could be given this responsibility. The Controller’s duties include managing finances and keeping an eye on the company’s assets. The same person frequently manages and seeks financial resources.
- Vice President of Production or Production Manager - Finding competent production managers with specialized industry expertise and experience might be challenging at times. You might first subcontract some production.
Key Personnel – Lead Management
Small businesses frequently have a small team with numerous responsibilities. Because some people are required to wear “many hats,” it’s critical to understand what each hat’s tasks and obligations are. A sample list of some of the key employees of a company is shown below. The organizational structure and the number of essential individuals might differ significantly depending on the business’s emphasis, which varies widely. Nonetheless, many of the crucial employees listed below are present in most companies.
A value-added business’s key personnel and their responsibilities include:
- Manager of Operations: This person serves as the operation’s manager and is ultimately accountable for the company’s financial success. The operations manager manages relationships with lenders, local authorities, and vendors on the outside. This person is frequently also in charge of the company’s production or marketing. The goals, strategic plan, and vision for the company will be put into action by this person.
- Management of the Environment, Safety, and Quality: This is a crucial job in any sector, but especially in the one that deals with food goods. One person will often be in charge of managing OSHA compliance, and EPA compliance, monitoring air and water quality, and product quality, training staff in each of these areas, and completing the required monthly, quarterly, and annual reports in a small business.
- Controller, Bookkeeper, And Accountant: This is yet another crucial duty. This person is in charge of handling the cash as well as monthly income statements, balance sheets, receivables collection, and payroll. Here, handling the money is the most important factor.
- Manager of An Office: Further to acting as a purchasing agent, the person in this position may also act as a “traffic cop” with vendors and salesmen. In general, this individual will be in charge of everything not related to production and may also be responsible for some marketing tasks.
- Receptionist: The receptionist, who is sometimes referred to as the “front-line” employee, answers phones, welcomes guests, manages mail, bills customers, and completes a variety of other activities as directed by the office manager.
- Lead Person, Foreperson, and Manager: In the absence of the owner, general manager, or president, this person, who serves as the shop’s second-in-command, will be responsible for managing production. This job often has a broad awareness of every part of the company and is responsible for working with new hires, including setting up schedules and training.
- Manager of Marketing: If resources allow, a marketing manager may be hired to oversee all facets of the product’s promotion and sales. In a small business, the person in charge of management frequently does this task.
- Manager of Purchases: The general manager/top management individual or the office manager may both perform the duties of this role. Frequently, the lead or supervisor is also involved.
- Manager or Shipping and Receiving Personnel: In a new company, this position might not be full-time. Yet, someone needs to be tasked with receiving inbound materials, ordering delivery conveyance, packing finished goods, and stock storage. This may involve the office manager, foreperson, or accounting clerk, among others.
- Professional Staff: Each business, whether new or established, needs expert staff resources. They include a Certified Public Accountant[1] (CPA), a lawyer, and IT expert, and perhaps a nearby physician or access to a healthcare center. These jobs must be taken into account when creating the business strategy, even though they might not be listed as full-time staff positions in your corporation.
Conclusion
Lead Management teams should be assembled as you develop your company plan, and careful consideration should be given to the “essential” positions that must be filled and the candidates for those positions. Managerial teams frequently change. Until the business expands and can hire more staff, you should anticipate that different organization members will wear numerous hats whether you work for or run a business. Any or all of the aforementioned positions may exist in large firms, but regardless of the position, each one is essential to the expansion and success of the business.
Also Read:
Appointment Of Key Managerial Personnel
How To Prepare A Business Plan? – A Complete Guide For Startups
A Detailed Outlook On The Roles Of Directors And Shareholders In A Company
