An organization works with team work. A team of many members work together by interconnected with each other. There are different types of designations in an organization like Owner Chairman, MD, CFO, COO, CEO and President. They all work at their posts and make a team which runs the organization. Let’s have a look on the difference between these designations.
The concept of ownership is very old. Ownership is a state which contains exclusive rights and control over a property or any other things. An owner of any property has collective rights, which he can divide to other parties.
President is a term used for a person, which may be a leader or president of any organization or else having special rights to head the organization or party.
It is the highest rank in any organization, board or assembly. Chairman is the highest officer in his group with special rights. He is elected by the members of the group.
In British, MD stands for managing director. It is a higher post of management in any organization. He typically reports the board of directors.
In American English CEO or chief executive officer, is a high-ranked officer in an organization. He is a communicator, decision maker or an adviser.
Chief operating officer is a high rank officer in management of an organization. A COO is responsible for daily operations related to company.
Chief financial officer is another high rank executive in a company. He is responsible for financial planning and record keeping in company.
Owner vs President vs MD vs CEO vs MD vs COO vs CFO
The difference between owner and president is that, owner has special rights and he has the final authority in any organization to take any decision, while president is head of the all executive body. CEO and MD are the two different terms for a same post in UK and USA. CEO is the highest rank officer in executive body of a company. He is responsible to report to board of director. Difference between COO and CFO is that, COO is the operating officer which is responsible for routine operations of company, while CFO is responsible for financial planning and all the record related to finance of the company.
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