The business has been operational for a couple of years now and business is not bad as projections from the CFO indicate that the business is in for a very great year in the history of the business. In order to attain this anticipated growth, the management team of the company will have to work very hard and go the extra mile of ensuring that the business moves forward.
The below organization chart illustrates the companies top management. Below is a Brief analysis of some of the deliverables that have been, and shall be expected from these officers.
Basically, the duty of the CEO is to articulate the strategy that needs to be followed in order to attain success in the business. Specifically, the CEOs duty has been to design the strategic vision, mission and goals of the business. As communicated to everyone, the vision of the Try-sprout is to be ‘’the eatery of choice in the region’’ while the mission of the business is partner with all stakeholders to attain the much needed success. The major objective of the business is to maximize profitability from the sales and also to ensure repeat business so as to continue engaging the proper audience for the same.
The strategy laid down by the president is five year frameworks that will see the company meet its objectives in the most expeditious way. In the short run which covers 2 years, the strategy of the company is to offer competitively low prices so as to ensure initial market penetration. Secondly in the strategy is to position the company as a regional eatery, with the best services in the region. This will help generate repeat business.
Key also in the process of strategy set up is the communication of information which can be of benefit to the business.
The role of the CFO is a management role that will require someone with in-depth knowledge in this area. This is because of the diverse and complex roles of the incumbent.
The selected candidate will have plenty of responsibilities. While one of the many responsibilities is to assist in the conduct of external audit, one of the most important deliverables in the company will include;
Providing the company’s board of directors and the president with technical advice on the sources and uses of the funds raised. This should be a well thought out answer as it will not only be descriptive, but also analytical for the benefit of all. Specifically, the CFO will be the lead advisor in securing a loan of $ 100,000.
Other specific tasks that may be assigned to the CFO include;
The CFO will be tasked with the responsibility of performing or helping in the performance of the tasks that would be deemed necessary in the achievement of the organization’s mission and vision of ensuring that Try-Sprout is the best in the region..
Be at the forefront of enhancing the capacity building of the staff in the business especially on matters of finance, a key component of Try sprout business.
Work together with the company’s CEO to ensure that the strategic vision is realized, and especially with regard to the assistance in the devepment of business contracts
The CFO will also be very instrumental in new business development and specifically offering the much needed assistance to the CEO/COO in the identification of new business opportunities and identifying funding sources as well as investment appraissal
The CFO, as the head of the finance division will be tasked with the responsibility of ensuring that the finance department is ready and cooperating with both internal and external audits and that the books of accounts are beyond any reproach
One last and most important aspect of CFO is the ensuring that the company’s internal controls have been checked. Secondly, the company requires the CFO to be in a position to prepare management accountants for the business as well as a full and final set of financial statements.
For the smooth run of the business, the role of the Chief Operating officer will be necessary. Reporting directly to the CEO, the incumbent will be tasked with a number of responsibilities. These will include,
The COO is tasked with the responsibility of ensuring a smooth day to day operation of activities which include growth of sales, costs and margin control and also quarterly, semi and annual financial goal management.
Some of the specific responsibilities shall be;
Direct the operations of the company so as to meet both budget and other financial goals
Direct the planning and budgeting process development in order to support the strategic business goals
• Establish the performance goals, help in the allocation of resources, the assessment of the effectiveness of the management goals and objectives and also policies
• The COO is involved in the acquisition of partnerships and the development of business growth in the aim of becoming business leaders in the region
• The COO shall be instrumental in the development, establishment and the direction of the execution of selected operational policies that would ensure business success
Vice president Marketing
He is tasked with the responsibility of providing executive leadership and management of the business marketing division which will include corporate marketing, product marketing, partner/channel marketing and also product management. This officer will be expected to drive the business efforts to position itself as a regional and visionary leader in the hotel and hospitality industry and also bring out the business potential in the emerging markets and also to achieve the set revenue goals.
Specific responsibilities will include;
Definition of an appropriate marketing organization for the business
Overseeing of the marketing communications including branding, advertising, public relations, seminars and events collateral materials, analyst and market research management, and also the management of the business digital content, which includes the design of the company’s website and the management of its content.
Define and direct marketing programs in order to create demand, lead generation and interface with the sales VP in order for lead tracking and management.
Work closely with VP Sales for the development and management of channels and partner strategies and programs.
Being in charge of product launch management, presentations, competitive analysis, sales training among other Auxiliary services in the sales department
This role is quite distinct from the marketing VP. Reporting to the CEO, this officer will also be a member of the executive team. He will be responsible for the management and direction of all sales and business development sections of the company. This will include pricing, market competitiveness, compensation, channel strategy and distribution. Business development also lies under his docket. She/he will be responsible for driving ensuring the achievement of customer acquisition and revenue goals and objectives
Specific responsibilities will include;
The development of sales strategies
Maintenance of key customers relationships and development of strategies for the increment of the company’s customer base
Manage the overall sales process and also set appropriate goals for the sales team
Develop sales policies including sales and volume discounts, terms and conditions for partnerships in channel development
Develop, together with the VP marketing, the company’s overall marketing budget
VP- Human resources
Specifically, the officer is expected to manage the human resources department with specific duties to;
Develop the human resources manual for use in the company
Develop recruitment and selection policies
Develop a staff appraisal policies and procedures
Identify and fill in vacant positions in the company through a proper and transparent manner.
Handle staff grievances and disputes
Lead in the establishment of staff compensation and motivation policiesl