The vice president (VP) of a company typically is the second or third in command in the firm, depending on whether its chief executive officer (CEO) and the president have separate roles and titles or not. Steven Rindner underlines that in several organizations, the role of the vice present starts off with the key job responsibilities of that of a manager. Rindner is the Executive Vice President of the Main Street Advisors, and hence has a good idea about the importance of this job role in the corporate world. He mentions that the company vice president typically enjoys certain oversight responsibilities, especially when it comes to the department managers.
Steven Rindner marks the responsibilities of a company vice president
As per the standard rules of corporate governance, the vice president of a company is expected to act in the stead of its president or CEO, in case they are absent or are not able to carry out their duties for certain reasons.Steven Rindner mentions that while the president of an organization is usually responsible for providing a general strategic direction to a company, the job of a vice president commonly entails making sure that those strategic plans of the firm are properly executed in their day-to-day operations.
The vice president of a company typically assigns develops functional roles, assigns responsibilities, as well as oversees operations to make sure that the vision of the president or CEO is carried out in an efficient fashion. According to Steven Rindner, the major job roles and responsibilities of a company vice president includes:
- They have to lead major departments, operations, and units of an organization. They must possess good leadership skills in order to be able to manage a large group of people, and encourage them to work to the best of their abilities and capacity.
- These professionals may at certain times make commitments and sign documents for the company for which the firm is liable legally.
- The vice president of a company is often required to take part in the president or CEO led team that work towards designing and developing the overall vision and mission of the company. In such meetings, the strategic goals of the company are decided while taking its values and beliefs into consideration.
- The vice president of a firm has to guide, lead , direct and even evaluate the work of various other executive leaders belonging to the organization, including managers, senior directors, as well as assistant vice presidents.
- These professionals might have to both formulate and implement the strategic plan that is designed to guide the direction of the various teams present at the organization. These plans can be based on the diverse functional responsibilities of the company that influences its growth and prospects.
- The vice president of a company is usually required to contribute to the profitability and sales requirement of the business as determined by the relevant strategic plans of the company.
Most major corporate organizations tend to have a vice president, however, this position is usually not found in various small and medium-scale firms.