run a taut or tight ship

Meaning 1
To sail well, the crew and the ropes need to be taut and in good order. The captain of the ship controls this.
Sentence 1
The captain runs a tight ship. There have been no accidents.
Meaning 2
to be in control, to have good organizational skills
Sentence 2
It's good that the new executive will run a tight ship. No one knew what his job responsibilities were before.