President And Owner Job Description

The Executive Director of a Small Company

When the company is small, the company's owner is usually identified as such. In smaller companies, the owner often acts as a jack of all trades, overseeing marketing and customer relations, and even emptying the wastebaskets at day's end, as well as any other job that needs doing and doesn't have someone assigned to it. The best analogy for an owner and company is a parent and child relationship, where the owner is committed to the company's success in a way that few employees will ever understand.

The owner is the ultimate authority if the company is large enough to have an executive hierarchy. The president of a company is concerned with the day-to-day functioning of the organization. Sometimes a president takes the visions articulated by the owner or CEO and implements them, by changing departments activities as necessary.

The president is usually responsible for the development of the policies, practices and procedures that govern the company's routine operations. A president will be involved with the company's financial management in terms of monitoring the operating budget and planning for future capital and operating expenditures. The president is the highest executive in the company.

The CEO is the highest authority within the organization. The CEO is responsible to the board of directors. The president is the second in command.

What is a Name?

What is in a name? More than you might think. You have complete freedom to choose the title you want for your business, as a small business owner.

You want to make sure your name delivers the message you intend. The man or woman in charge is called the CEO. The title suggests leadership over a large company.

Sometimes it is too big for a small business owner, but other times it is just right. The President carries the same weight as the CEO, and it distinguishes itself from the C-suite. If you want to build an executive team, you should consider the titles of your peers.

The title of principal is between the owner and CEO. It is more official than the owner but less grandiose than the CEO, making it perfect if you own a small agency or consulting business that is trying to look and feel bigger than it actually is. General managers are usually in charge of the company.

Project Risk Management: Owner's Perspective

Transferring some of the project risks by contract to others is a form of risk mitigation that the owner can use. The owner of a fixed-price contract wants to transfer the cost risk to the contractor, while the owner of a cost-plus-fee contract wants to retain the cost risk. The owner may better off with the fixed-price approach, but the contractor may better off with the cost-plus-fee approach.

If the owner is going to have a team that is integrated, the team needs to share the goal of risk reduction for every member of the team, rather than giving one person the responsibility of imposing risks on the other team members. Project risk management is not a function that the owner can completely delegate to contractors or to consultants with impunity, as they may play major roles in identifying, analyzing, and controlling project risks. There is no way to assign responsibility for risk management activities to the project team.

The owner needs to determine the optimal delegation of responsibilities, then tracked and managed using the tools described in Chapter 7. The owner still has an essential role to play in managing the owner's interests and risks. The owner's representatives are responsible for implementing risk management policies.

They have direct involvement and oversight of efforts to identify, analyze, and control project risks. Project directors should have a good knowledge of project risks and of the tools that they use to manage them. They are responsible for the leadership of the project management team, oversight of contractors and consultants, and notification of senior management when significant risks arise.

Risk management methods are used on comparable projects. The owner can show a commitment to improving project performance through risk management by giving weight to it in the selection of a contractor. Projects face new risks which must be identified, analyzed, and understood in order to develop a framework for selecting the right projects to execute and for successfully executing them.

The Roles of CEO and President in Small Business

It is not uncommon for one person to carry out the roles of CEO and president in smaller businesses. The small business is often owned by the same person who is also the CEO and president. The president is the leader of the executive group in some organizations.

The leader of the overall company is often referred to as the leader of a segment or critical part of the company by the president. The president is also the CEO in some instances. The president of a small business might be the company's owner.

The president is the second in command in an organization where the CEO is already in charge. A company with no subsidiaries may have one person execute the roles of CEO and president. Communication and contact can be achieved between the board of directors and the president who oversees the day-to-day operations.