Term owner it can not be separated from the business world. Maybe you also often hear it when learning about business. To understand it clearly, look at the owner’s review: understanding, duties, and the difference with the founder CEO.
In a company, of course, there are various terms regarding the positions and duties carried out. For example the terms owner, founder, CEO, and CO-founder. One thing that makes me curious is the position of an owner in a business being run.
Owner is
Owner is a term from English that is familiarly mentioned in everyday conversation. So, basically this term has not been officially adopted into Indonesian.
If translated, the meaning of owner itself means having or having. In the field of business itself, an owner is the owner of the business being run. For example the owner of J&T Express, owner of MS Glow, owner of Amazon, and so on.
Determining who is the owner of a business will be easier if there is only a single owner in it. Maybe this will not be difficult to decide if the business is still on a small scale. However, what if the business being run is already a large-scale company?
As is well known, large companies are often controlled by several people at once. In the business world, this is known as an investor.
In a company that has investors, the meaning of the owner is someone who owns the company as well as capitalizes on it. If the owner finally sells his company shares, he will no longer have the position as owner.
Owner’s Tasks
After knowing the meaning of owner, then what does the owner do in a company? Not a few business owners who participate in managing their business, even go directly to it. One of the main reasons is that there is no one to monitor the current performance of its employees.
Not only that, there are also those who are worried if employees work arbitrarily and take certain decisions when the boss is not around. Basically, it’s a natural thing to do. However, it cannot be called completely precise either.
Why is that? Basically, an owner has full responsibility for the continuity of the business being run. So, the owner has the task of developing the existing business to make it more advanced. Including to find new opportunities and innovations.
An owner must delegate tasks to employees in the business being run. The owner will focus more on developing the business if he can delegate his duties properly.
Efforts that can be made include expanding the marketing area and making new breakthroughs. however, it is possible that this will require you to always be mobile. In fact, it is not uncommon for the owner to often leave the office.
However, of course you can still monitor employees and their performance in the office remotely. For more details, consider some of the owner’s duties in a business below.
1. Creating a Scalable Reporting System
The owner’s first task is to create a routine reporting system, for example reports based on a certain period of time. Reports can be made daily, weekly or monthly. Thus, this can be one way to monitor employee performance.
It would be better if you have implemented this reporting system online. In addition to keeping up with the times, the reports seen are real-time. The owner can also access it easily without the barriers of space and time.
2. Utilizing an Online Accounting System
The existence of an online accounting system is able to provide access rights according to their portion to employees. This system should indeed be equipped with complete transaction approval features. Thus, the owner can still monitor it.
3. Make a Routine Meeting Schedule
Determining the schedule of regular meetings is something that should not be underestimated. This meeting is important for interacting, brainstorming, and dealing with complaints related to work. Thus, a solution will be found for every problem that exists in the division.
4. Conducting Impromptu Inspections
The owner also has the task of conducting impromptu inspections from time to time. This activity is important to do to see the performance of employees directly.
5. Build an Attitude of Trust in Employees
How to cultivate trust in your employees? One of the things that can be done is to receive the right ideas or inputs for the sustainability of the business being undertaken.
6. Rewarding Employees
Do not forget to give rewards to employees who excel in carrying out their duties. This is a sign that the owner really appreciates the hard work of the employees.
Not only that, this can also motivate other employees to carry out their duties and responsibilities properly and correctly. Basically, employees make a big contribution to the development of your company.
Without employees, how will the business run and progress significantly? Therefore, it is very important to have good coordination so that there are no misunderstandings. Ensure that two-way communication runs smoothly.
However, to achieve the expected goals, good cooperation between the owner and employees is needed. A business owner must have strong and broad relationships in his field.
Not only that, to carry out the above tasks also requires fast learning and responsiveness. Especially when facing various kinds of changes that affect their business. Meanwhile, the employees are a team to make the company’s goals come true.
Difference between Owner and Founder, CEO, and CO-Founder
Sometimes people mistake owner for other positions in a business. For example, distinguishing between CEO, founder, and CO-founder. Basically, each has its own meaning and differences, which are as follows.
1. CEO
CEO stands for Chied Executive Officer. Basically, a CEO is the leader of a company, while ownership of the business is complex. So, the CEO can be interpreted as the leader of the divisions in a company.
Not infrequently the CEO is also equated with the company’s president director. Now, he has become an important position as the highest leader in a company he runs. Usually the company also has a board of commissioners who have their own duties.
Thus, a CEO of a company is elected through a board of directors meeting by the board of commissioners. So, the CEO is not the person who owns a company. His job is to lead only, that’s what distinguishes him from the owner.
2. Founder
The term founder is used for someone who founded a business or company. However, it could be that the founder is the person who owns or is just the originator of the business idea.
3. CO-founder
A CO-founder is someone who helps establish a business with the founder. So, a company can be founded by several people who form a team to finally succeed in making a business.
Reviews about the owner are: understanding, duties, and the difference with the CEO and founder above, hopefully it can add to your insight. Especially for those who are learning basic things about business and companies.
Increase Your Insights By Reading Definitions From:
