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It’s pretty common for people to be confused between the two terms. How often do you see people drawing comparisons between CEO vs owner? Everyone knows that the person at the top is the one responsible for a company’s success or failure. This is true in both small businesses and big corporations. But who is at the top? This is where you have to think about CEO vs owner.
Typically, in large corporations and publicly traded companies, the CEO is the highest-level person. He has the final say in how everything will be done. But it’s not necessary that he owns the business too. In contrast, small businesses have the same person owning and running the business.
When comparing CEO vs owner, you will notice many similarities between them. But there are quite a few differences too. Confused?
Well, for one thing, both CEOs and owners need pretty much similar traits to make their businesses a success. They cannot go far without quick critical thinking and polished communication skills. They have quite a lot of similar responsibilities too. Yet, they are quite different too. How? Let’s find out!
CEO vs Owners: All Details Explained
Yes, both CEOs and owners have similar responsibilities. But more often than not, how they handle these responsibilities differs significantly.
For instance, it’s pretty common for owners to hand over some of these tasks to others. They believe in delegating and don’t need to maintain most of their responsibility on their own. A CEO has it differently. He has to remain updated with competition and opportunities. Yes, he too delegates his work, but he supervises it all.
As per IRS, any business that has assets of $10 million or less is deemed a small business. And if the asset worth increases beyond this term, the business is either midsize or large. And this is true for every company, irrespective of extent and nature.
Usually, in large businesses, employees hav… Read More
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