Most Businesses are organized based on a Functional Hierarchy (Org Structure) - this structure is important to grow the Functional expertise and maintain the reliability of the given domain (Operational Stability).
Organizational Growth relies on Cross-Functional collaboration to achieve it's expected outcomes (Vision). This is achieved through a long-standing Virtual Innovation Network (Bring the work to the people).
Organizational "Titles" are often not pertinent and people map themselves to a defined "Role" within the Innovation Network.
Example: A "Senior Manager of Marketing" could be a "Portfolio Owner", "Product Owner", etc. The "Senior" is not pertinent to the Role, outside of possible allocations (e.g. - an experienced PO might support >2 Agile Teams) - this becomes more pertinent to compensation and authority within the Org Hierarchy.