Vice President (VP) Job Description

They create a corporation's organizational structure and managerial formulation. They usually take high responsibility in a management position.
 

Author: Xinyue Xu
Xinyue Xu
Xinyue Xu
Reviewed By: Isabel Lin
Isabel Lin
Isabel Lin
Isabel Lin is a Computer Science and Economics student at Brandeis University, set to graduate in 2026. At Wall Street Oasis, Isabel progressed from a Financial Research Intern to an Editor Specialist, demonstrating her ability to analyze and communicate complex financial information effectively. In addition to her academic and professional endeavors, Isabel has achieved notable success in athletics and music, being a U.S. Junior Olympic National Gymnast and a Carnegie Hall Pianist. These accomplishments reflect her discipline and versatility, which she brings to her work in financial markets and computing.
Last Updated:March 5, 2024

What Is A Vice President (VP)?

Vice President (VP) is a position in a company and government. They are members of the company's administrative team, nominated by the General Manager, and employed by the Board of Directors.

Vice Presidents are the assistants of the General Manager and the persons in charge of an enterprise field authorized by the board of directors in a business.

They assist the General Manager in formulating and implementing corporate strategies, business plans, and other policies and strategies to achieve the company's business management objectives and development goals.

This position usually requires a master's degree or above in enterprise management, business administration, administration, and other related majors.

    Key Takeaways

    • Vice President (VP) are key members of a company's administrative team, assisting the General Manager in implementing strategies and business plans.

    • Vice Presidents require advanced degrees, leadership training, and extensive management experience, along with skills in communication and market analysis.

    • VPs create organizational structures, oversee various departments, and manage sales objectives to achieve business goals.

    The Vice President's Responsibilities in a Company

    The Vice President (VP) holds a important managerial position within a company, and their roles and responsibilities are integral to the successful execution of the company's business strategy.

    Here's a detailed list of their duties:

    1. Strategic Planning and Development: The VP is instrumental in creating the company's organizational structure, management strategy, development direction, and business plan. These strategies are presented for approval to top decision-makers before being implemented.
    2. Technology, Operations, and E-commerce Management: The VP oversees the company's technology and operation departments. They also participate in the design and development of the e-commerce platform, ensuring system safety, quality, and performance. Furthermore, they're involved in drafting technical project blueprints and executing relevant design or developmental tasks.
    3. Supporting the General Manager: The VP plays a crucial supporting role to the General Manager. This encompasses aiding in formulating operational and management policies, guiding development directions, and handling additional tasks as delegated by the General Manager.
    4. Market Analysis, Research, and Strategy Formation: Engaging actively in market trend analysis, the VP gathers data on the market and competitors. They're responsible for market research, forecasting, competition strategy creation, and overall business trajectory planning.
    5. Sales, Coordination, and Performance Goals: They set the company's sales goals, ensure coordination across various departments, and work towards its business trajectory, ensuring all departments align to meet performance targets.
    6. Financial Oversight and Market Expansion: The VP creates business budgets, oversees their implementation, and suggests strategies for market channel expansion. They also manage the company's investment and financing affairs, organizing associated documents and data.
    7. Strategic Insights and Business Direction: By tracking business development trends, the VP integrates them with the company's strategic direction, offering actionable business strategies and recommendations.
    8. Quality Control and Reporting: Regularly updating stakeholders about business progress is a key duty. This involves submitting detailed operational reports monthly, quarterly, and annually. Additionally, they evaluate the core management team to enhance service quality and eliminate wastage.
    9. Team Collaboration and Project Implementation: The VP ensures a seamless collaborative environment, working in unison with departments like product, R&D, and promotion, and also collaborates in formulating technical project schemes and relevant work.

    VP Requirements

    Vice Presidents usually need to be trained in leadership development, strategic management, organizational change management, human resource management, economic law, financial management, etc.

    Generally, more than eight years of work experience and more than five years of overall management experience are required to handle this position professionally.

    Besides what was mentioned above, they usually need to fulfill the following requirements:

    • Be familiar with the business and process of the enterprise they are in
    • Have strong leadership skills and perform well in team management
    • Be familiar with the enterprise's overall operations, advanced management concepts, and solid strategic formulation and implementation capabilities
    • Have a wide range of customer resources and social resources
    • Have good writing, speaking, and reading skills, and be proficient in using office software and unique systems of the company
    • Have keen market insight, excellent project organization, and market development ability
    • Have rigorous planning and organization ability, personnel management and communication ability, and business negotiation ability
    • Exemplary professionalism and professional ethics, strong charisma and cohesion, and a sense of responsibility

    VP and Executive Deputy General Manager

    The Executive Deputy General Manager is the senior assistant of the general manager, who assists the director general in coordinating the overall work and is responsible for the company's daily work.

    VPS is accountable to the Executive Deputy General Manager. The Executive Deputy General Manager has the right to guide VPs as members of the highest decision-making level.

    In a more formal enterprise with a complete corporate governance structure, the VP is nominated by the general manager and appointed by the board of directors.

    The VP, in charge of the company's executive work, can be called the Executive Deputy General Manager.  Other VPNs are only responsible for some of the administrative work, but they are in charge of one or more specific aspects of the central business of their company.

    Usually, they assist the general manager in managing several departments.  For example, a Vice President helps the general manager, takes charge of the company's supply chain, and controls the company's procurement center, sales center, etc.

    In some enterprises, the chairman and general manager are held by the same person. A different Executive Deputy General Manager position is set up without a full-time general manager. 

    In this kind of enterprise, the Executive Deputy General Manager has the same rank as other VPS.

    The Executive Deputy General Manager has a more comprehensive range of responsibilities, a broader scope of authority, and power over the company's finance, personnel, production, and sales safety. 

    However, the size of the force depends on the company's authorization, such as the capital approval power.

    To balance the relationship or the interests of shareholders in the enterprise, some bosses may set up this position to help the boss take charge of the company's daily affairs. 

    The Executive Deputy General Manager is generally head of the comprehensive department or the company's critical department, so remuneration or year-end performance will be higher than other Vice Presidents.

    To sum up, the Executive Deputy General Manager is also the VP of the enterprise, but they are different in responsibility, division of labor, and importance. 

    Here is a table outlining different criteria for both the Vice President and the Executive Deputy General Manager: 

    VP Vs Executive Deputy General Manager
    Aspect Executive Deputy General Manager Vice President (VP)
    Position Senior assistant to the general manager; may also be known as VP in some enterprises. Reports to the Executive Deputy General Manager; may have equivalent rank in certain enterprises.
    Responsibility Coordinating overall work and responsible for the company's daily operations. In charge of the company's executive work and/or specific administrative areas. Assists the general manager in managing several departments.
    Authority Has a broader scope of authority and power, including over the company's finances, personnel, production, and sales safety. Specific authority depending on the area of responsibility; may oversee functions like supply chain, procurement, sales, etc.
    Accountability Assists and reports directly to the director general. Accountable to the Executive Deputy General Manager.
    Appointment Position set up by the enterprise's governance structure. Nominated by the general manager and appointed by the board of directors in formal enterprises.
    Scope of Influence Comprehensive range of responsibilities; size of force depends on company's authorization. Focus on one or more specific aspects of the central business of the company.
    Rank In some enterprises, holds the same rank as VPs, especially without a full-time general manager. Usually holds a rank below the Executive Deputy General Manager, except in certain enterprises where ranks are equivalent.
    Remuneration and Rewards Generally higher than other VPs due to being the head of the comprehensive department or the company's critical department. Remuneration and rewards depend on their role and departmental performance; generally less than the Executive Deputy General Manager.
    Role in Corporate Structure May be set up to balance shareholder interests and to manage daily affairs on behalf of the boss. Plays a part in the corporate governance structure, but the role is more focused on specific domains rather than overall coordination.

    Free Resources

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