If you've ever been caught scratching your head, wondering why your company is stuck, why it won't grow, why it can't take that next big step, it might be because you have a "manager" running your company.
Managers, generally, are masters of operations. They are critical to the success of any company. They do a great job of making sure the boat stays above water, that the doors get opened and closed every day and they're great at putting out small fires.
On the other hand, when a manager runs a company, you can't expect "officer" level benefits. Officers play a different role. CEOs, CFOs, CMOs, etc. These folks are not managers and they solve a different category of problems in a company.
In small companies, the challenge is often to wear both hats. Companies that make it to the heights of success have had at least one individual, at one time, that could wear both hats perfectly, who have perfected both rolls, a person who understands corporate structure, integrated business models, cohesive branding, etc., while they also understand day-to-day operations, are passionate about products, love to tinker, can manage people, lead small groups and put out small fires.
A company that is run by a manager will only get so far before it gets stuck. A company that is run by an officer type, without a manager or managers will get no where, because that company is not on the ground. If the objective of a company is to be as successful as it can be, regardless of what the titles might be, every successful company needs someone to fill each of these roles.