A corporation whose shares are held by a single shareholder or a closely-knit group of shareholders (such as a family) is known as a close corporation. The shares of stock are not traded publicly. Many of these types of corporations are small firms that in the past would have been operated as a sole proprietorship or partner¬ship, but have been incorporated in order to obtain the advantages of limited liability or a tax benefit or both. This type of employment agreement might be in order for the chief operating officer of such a corporation.
Arizona Employment of Executive or General Manager in a Closely Held Corporate Business: The employment of an executive or general manager in a closely held corporate business in Arizona is a critical aspect of ensuring the company's success. These high-level positions are responsible for overseeing the day-to-day operations, implementing strategic plans, and making crucial decisions to drive growth and profitability. Understanding the different types of employment options for executives and general managers in Arizona can help businesses find the right candidate for their specific organizational needs. 1. General Manager: A general manager is a versatile professional who oversees various departments within the closely held corporate business. They are responsible for setting goals, managing budgets, guiding teams, and ensuring overall operational efficiency. The general manager works closely with department heads and executive-level personnel to align business strategies and ensure the company's success. 2. Executive Manager: An executive manager holds a more specialized role and usually oversees a specific department or area within the closely held corporate business. This could include positions like Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Operating Officer (COO), or other C-level executives. Executive managers are key decision-makers and play a crucial role in formulating and executing the company's strategic plans. 3. Divisional Manager: In larger closely held corporate businesses, the employment of divisional managers can enhance organizational efficiency and productivity. These managers oversee specific divisions or subdivisions within the company, ensuring that each unit operates smoothly and achieves its objectives. Divisional managers are responsible for developing and implementing divisional strategies, coordinating resources, and managing the division's performance. 4. Branch Manager: For closely held corporate businesses with multiple locations or branches, the appointment of branch managers is crucial for effective operations. Branch managers are responsible for overseeing the day-to-day activities of a specific branch, ensuring compliance with corporate policies, managing customer relations, and achieving branch-specific goals. They act as a bridge between upper management and branch employees, ensuring open communication and efficient workflow. 5. Regional Manager: In geographically expansive companies, regional managers are employed to oversee multiple branches or locations within a specific region. They coordinate the activities of various branches, ensure consistent implementation of corporate strategies, monitor performance, and identify opportunities for growth and improvement. Regional managers play a crucial role in streamlining operations, fostering collaboration, and ensuring uniformity in the closely held corporate business's functioning. In conclusion, Arizona employment of executives or general managers in a closely held corporate business requires careful consideration of the specific role's requirements. General managers, executive managers, divisional managers, branch managers, and regional managers each fulfill distinct positions, ensuring that different aspects of the business are effectively managed. Employing the right executive or general manager is pivotal in driving the growth, profitability, and overall success of the closely held corporate business in Arizona.
