C-Level Executives – definition and examples
C-level or C-suite are terms we use to refer to the highest-level executives in a company. This group of high-level managers consists of the most powerful and influential people in the business. In other words, they are the top corporate officers in the world of business.
The letter ‘C’ stands for ‘Chief.’ Some of the most famous titles are CEO (Chief Executive Officer), COO (Chief Operating Officer), and CFO (Chief Financial Officer).
CIO (Chief Information Officer), CTO (Chief Technology Officer), and CMO (Chief Marketing Officer) are also part of the group.
The C-suite is important in a company because its members collaborate to make major decisions. C-suite executives lead every department and create strategies to align operations with the business’ strategic goals.
C-Level Suites – many types
Every company has a different set of C-suite executives. The suite’s makeup depends on the company’s needs, size, or type of business.
For example, a company in the health sector may need a Chief Medical Officer. An IT firm, on the other hand, requires a Chief Technology Officer. IT stands for Information Technology, i.e., computers and telecommunications.
C-level executives – qualities
All C-suite executives must have leadership, team building, and communication skills. They must also have extensive business experience.
C-level executives set and supervise their department strategies. They have people who align these policies with the company’s business goals.
These top executives manage the departments at a high level, so they don’t usually engage in daily operations.
C-level executives who work in small companies also do middle-management work.
C-suite executives usually have significantly higher salaries because they have more responsibilities and broader experience.
Additionally, the decisions they make on behalf of the company are more important than those of their colleagues further down the corporate ladder.
Becoming a C-level executive
In most companies, you only become a C-suite member after working in a specific company or business for several years.
The person must have a master’s degree in business, such as an MBA. MBA stands for Master of Business Administration. Ideally, they should also have qualifications related to their position and sector.
When looking for a new C-level executive, companies seek people with both work experience and academic qualifications.