How is a small business able to afford to have talent to structure their business for success, take them to the next level or do a turnaround to improve financial or operational performance.
One option that is very attractive , is to retain an expert on a fractional basis.
A chief financial officer (CFO) is the senior executive responsible for managing the financial actions of a company. The CFO’s duties include tracking cash flow and financial planning as well as analyzing the company’s financial strengths and weaknesses and proposing corrective actions. The CFO is similar to a treasurer or controller because he is responsible for managing the finance and accounting divisions and for ensuring that the company’s financial reports are accurate and completed in a timely manner.
Today, many CEOs have less time to devote to executing strategy, while at the same time uncertain environments increase the need for professional strategy development or to focus on an Exit Plan. As a result , Owners & CEOs are appointing CSOs. The CSO is a consultative role; part leader and part doer, with the responsibility of ensuring that execution of the strategy supports the strategy elements. This unique background takes a multitude of different operating experiences , and must include being both a creative thinker and i nfluential collaborator . CSOs are often executives who have worn many hats at a variety of companies or agencies before taking on the responsibilities and tasks that come with the job title .
Chief Executive Officer (“CEO”) is responsible for leading the development and execution of the Company’s long term strategy with a view to creating shareholder value. The CEO’s leadership role also entails being ultimately responsible for al l day-to-day management decisions and for implementing the Company’s long and short term plans.
The CEO acts as a direct liaison between the Board and management of the Company and communicates to the Board on behalf of management. The CEO also communicates on behalf of the Company to shareholders , employees , Government authorities , other stakeholders and the public .