Businesses are usually run by executives at the top of the hierarchy and every business has different types of business executives who handle things within the organization differently. Though one may use the term ‘business executive’ where the person runs a business alone (sole proprietor) but the term is actually meant to be used in organizations where there are different levels of hierarchy. The executive at the highest level of the hierarchy will be responsible for a lot more than someone who is a tier below him because of the simple fact that he himself has the highest ranking within the business.
The first, and most senior, of all types of business executives are, Chief Executive Officers. If you have seen movies that focus on a company or such like you will often notice the characters talking about the ‘CEO of the company’ or if you happen to switch on the news you will see newscasters talking about how the CEO of an organization has been affected by the economic situation in the world of today. CEOs have the final say over each and every matter. Without his/her ‘yes’ nothing can go forward. Think of CEOs as you would of the Queen of England- except with veto power. These guys are responsible for running the entire company which is why the position is considered to be the highest ranking one within a company.
Then another of the various types of business executive is the Chief Operating Officer who is usually second only to the CEO. The COO is responsible for the daily operation of the company and are usually the CEO’s ‘whisperer’ because they are to inform the CEO of how a company is running and what all could be done to fix it. A COO is usually someone who has high chances of being the next CEO of the company.
There are different types of companies nowadays with executives who have responsibilities similar to those of the CEO or COO but they are given different titles. In some IT companies the CIO is responsible for overseeing the running of the company and the way things are being done there. The responsibilities are quite similar to that of a COO except CIOs is the term you would use for someone in an IT company but COO is a term you would use for someone in a business corporation instead.
Chief marketing officers are also certain types of business executives. Every company has someone who is managing the marketing department and is responsible for advertisements and creating awareness about the existence of a company in the market. CMOs are the go-to guys for someone handling the marketing of the company. If you want a marketing strategy to be approved he will have to approve of it before it goes to the COO/CIO and CEOs. If he/she likes your work then chances of your work getting approved by someone higher than him/her are much higher. There are many other types of business executives and these are just some examples.