A VP by definition should have tools, and funding, to make necessary improvements, as well as innovations. And should be naturally inclined to to innovate and improve. Also needs a voice (that's heard) at budget time. Otherwise you're just a glorified middle manager.

Some companies simply appoint VP's to execute the top dog's plan, within strictly prescribed lateral limits. If they fail due to inadequate resources, they revert to their secondary function as sacrificial anodes. That way the top boy can make a blood sacrifice to the gods (BoD and wall street) to preserve his own position.

Word to wise CEO's: Don't appoint high visibility DEI picks to key executive scapegoat positions... they can be hard to fire when the time comes.