What is a Chief Executive/CEO?
A Chief Executive Officer (CEO) is at the highest position in an organisation. They are responsible for the success of the business, which means they have a lot of responsibility. They have the authority to make the final decision for the company they are in charge of running. Any important decisions will always go through them.
They have the duty of creating, planning and running the overall strategic direction, This includes every aspect of the business, including all the departments. They also have the role of maintaining continuous awareness of competitors, markets, consumers, industry developments and quality standards.
A CEO will be responsible for driving the businesses vision, objectives and its general direction. They need to be able to lead the business well so that it can develop and to implement its overall strategy. CEO’s will work closely with other executive leaders and directors by evaluating their work to give them direction. Making sure that the strategic plan guides the business in the right direction is their primary responsibility. They need to be constantly evaluating to check they are moving forward in the right direction.
The CEO will also be responsible for representing the business to professionals and the local community, maybe even at a national level depending on the size of the company. There will be other executive figures within the business that bear some of the responsibility of this as well, but the CEO is the main face. They need to be able to demonstrate leadership to make the business a success. A CEO will report to a Board of Directors. The Board of Directors provides an advisory role to help guide the CEO if needed.
How to Become a CEO
If a person would like to become a CEO, the typical qualifications that will be required will usually consist of the minimum of a bachelor’s degree, in an industry that they plan to enter. They then may choose to pursue a Master of Business Administration (MBA) or similar post-graduate qualification. These types of programs can be done alongside work in the industry or after the individual has worked in the industry for a reasonable length of time. Students can be enrolled part-time so that they can incorporate their practical work knowledge into the curriculum. MBA students can apply for classes in management, finance or economics.
An individual must have a great deal of experience in the business area before becoming a CEO. As their role will be to provide and navigate the direction they want the business to go into, they must be able to identify any risks and opportunities that could come in the future. Senior level managerial experience is usually required so that the individual has had experience managing and overseeing other employees at a high level. Becoming a CEO will often require years of hard work.
Chief Executive Working Environment
The types of Executive CEO Jobs in the market vary, for example, there are roles specialising in management buy-in to e-commerce management. The kind of work a CEO will work on will typically involve setting budgets, forming partnerships and hiring a team that will lead the business in the right direction. They must create a motivating workplace for their employees to work in and they need to make it an inviting place for high performers to feel comfortable in their working environment. A CEO will also be in charge of hiring and firing staff. They must be able to identify top performers and also low performers that are not working to a good standard.
The success of a CEO can be difficult to measure however part of it can be monitored through questioning and listening to the response of the employees, linked to their daily jobs and the companies vision. The Board of Directors can also provide feedback and evaluate performance; however they mainly look at the share price and company strategy. It is rare that they comment on the CEO’s performance. Another way the success can be measured is through their team-building skill. It is important for the CEO to create well-structured teams that work well together, so they can assess this through assessments that measure specific behaviors of each team member.
The simplest way to measure the CEO’s success is through financial means. These could be the earning and share prices, which are also made public. But then it can be difficult to link those back to the decisions made by the CEO.