The document discusses the roles and responsibilities of various positions in a typical corporate organizational chart, including the Board of Directors, President, VP of Sales and Marketing, VP of Production, and VP of Administration. It specifically focuses on the role of the VP of Finance, whose responsibilities include determining capital structure and budgeting, analyzing financial performance, and making decisions around cash management, investments, and dividends. The VP of Finance handles the day-to-day financial operations of the company.
The document discusses the roles and responsibilities of various positions in a typical corporate organizational chart, including the Board of Directors, President, VP of Sales and Marketing, VP of Production, and VP of Administration. It specifically focuses on the role of the VP of Finance, whose responsibilities include determining capital structure and budgeting, analyzing financial performance, and making decisions around cash management, investments, and dividends. The VP of Finance handles the day-to-day financial operations of the company.
The document discusses the roles and responsibilities of various positions in a typical corporate organizational chart, including the Board of Directors, President, VP of Sales and Marketing, VP of Production, and VP of Administration. It specifically focuses on the role of the VP of Finance, whose responsibilities include determining capital structure and budgeting, analyzing financial performance, and making decisions around cash management, investments, and dividends. The VP of Finance handles the day-to-day financial operations of the company.
the Roles of the VP for Finance Learning Objective • To explain the major functions of key management positions in a typical organization, highlighting the crucial role of the finance manager Organizational Chart Organizational Chart
Among the responsibilities of the Board of Directors are:
1. Setting policies on investments, capital structure, and
dividends; 2. Approving company’s strategies, goals, and budgets; 3. Appointing and removing members of the top management including the president; 4. Determining top management’s compensation; and 5. Approving the information and other disclosures reported in the financial statements. Organizational Chart
Among the responsibilities of the President are:
1. Overseeing the operations of a company and ensuring that the
strategies as approved by the board are implemented as planned; 2. Performing all areas of management: planning, organizing, staffing, directing, and controlling; and 3. Representing the company in professional, social, and civic activities. Organizational Chart Among the responsibilities of the VP for Sales & Marketing are: 1. Formulating marketing strategies and plans; 2. Directing and coordinating company sales; 3. Performing market and competitor analysis; 4. Analyzing and evaluating the effectiveness and cost of marketing methods applied; 5. Conducting or directing research that will allow the company to identify new marketing opportunities, for example, variants of the existing products/services already offered in the market; and 6. Promoting good relationships with customers and distributors. Organizational Chart Among the responsibilities of the VP for Production are: 1. Ensuring production meets customer demands; 2. Identifying production technology/process that minimizes production cost and makes the company cost competitive; 3. Coming up with a production plan that maximizes the utilization of the company’s production facilities; and 4. Identifying adequate and competitively priced raw material suppliers. Organizational Chart Among the responsibilities of the VP for Administration are: 1. Coordinating the functions of administration, finance, and sales and marketing departments; 2. Assisting other departments in hiring employees; 3. Providing assistance in payroll preparation; 4. Determining the location and the maximum amount of office space needed by the company; and 5. Identifying means, processes, or systems that will minimize the operating costs of the company. Organizational Chart
Functions of VP for Finance
••• Making Determining Determining Capital decisions the Helpingbudgetinghow as to to to determine how appropriate finance howto analysis finance muchworking capital long-of in support cash term structure capital investments long-term dividendsaccounts ofathe such and investments company working company as accounts should capital declarereceivable which deals and inventories with the day-to- day operations of the company Organizational Chart
Several factors to be considered in declaring cash dividends:
1. Availability of investment opportunities
2. Access to long-term sources of funds 3. Capital structure 4. Stockholders Self-Test Questions 1. What are the reasons why the Board of Directors is the highest policy-making body in a corporation? Give at least three. 2. How is a director elected in the Board of Directors? 3. What are the four important roles of a finance manager? Explain each briefly.