Chief Business Officer
Encyclopedia
Chief business officer is a term used to describe the position of the top business and operating executive of an academic or research institution such as a university, college, institute or teaching hospital. The chief business officer title is becoming more commonplace in American higher education with the title of director or vice president also frequently applied to the executive serving in the chief business officer role. The chief business officer is generally responsible for the administrative, financial, and operations management of the institution often combining the roles of chief administrative officer
, chief financial officer
and chief operating officer
. The chief business officer is usually one of the highest ranking executives in an academic or research organization, often overseeing strategic planning in addition to budgeting, financial management, contracts, human resources, procurement, compliance, real estate, facilities, information technology, and risk management. In many organizations, sustainability and green building initiatives also fall under the purview of the chief business officer.
Many college and university chief business officers hold advanced academic degrees or top professional certifications and continue to participate in academic research or consulting projects in their areas of expertise. Job experience for the chief business officer role is generally gained, on the job, at the department, unit or program level prior to advancing into a chief business officer role although business officers at all levels are sometimes hired from private industry, government or other non-profit organizations.
Educational requirements for the chief business officer position vary by institution.
Chief administrative officer
A chief administrative officer is responsible for administrative management of private, public or governmental corporations. The CAO is one of the highest ranking members of an organization, managing daily operations and usually reporting directly to the chief executive officer. In some companies,...
, chief financial officer
Chief financial officer
The chief financial officer or Chief financial and operating officer is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management...
and chief operating officer
Chief operating officer
A Chief Operating Officer or Director of Operations can be one of the highest-ranking executives in an organization and comprises part of the "C-Suite"...
. The chief business officer is usually one of the highest ranking executives in an academic or research organization, often overseeing strategic planning in addition to budgeting, financial management, contracts, human resources, procurement, compliance, real estate, facilities, information technology, and risk management. In many organizations, sustainability and green building initiatives also fall under the purview of the chief business officer.
Many college and university chief business officers hold advanced academic degrees or top professional certifications and continue to participate in academic research or consulting projects in their areas of expertise. Job experience for the chief business officer role is generally gained, on the job, at the department, unit or program level prior to advancing into a chief business officer role although business officers at all levels are sometimes hired from private industry, government or other non-profit organizations.
Educational requirements for the chief business officer position vary by institution.
See also
- Chief administrative officerChief administrative officerA chief administrative officer is responsible for administrative management of private, public or governmental corporations. The CAO is one of the highest ranking members of an organization, managing daily operations and usually reporting directly to the chief executive officer. In some companies,...
- Chief financial officerChief financial officerThe chief financial officer or Chief financial and operating officer is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management...
- Chief operating officerChief operating officerA Chief Operating Officer or Director of Operations can be one of the highest-ranking executives in an organization and comprises part of the "C-Suite"...