Chief Executive Officer (CEO) is the highest rank of an executive manager in a corporation. A CEO is responsible for day to day management and operation of an organization. As a CEO, one must provide excellent leadership to juniors, must be able to set a clear direction and guidance to teams, and at the same time allowing them the freedom to operate on their own successfully.
A chief executive officer (CEO) has to overlook the entire operations of the corporation ranging from marketing and communications to product development and logistics. In overall, CEOs have to make very important decisions which have impact on the organization and employees.
Basic roles, responsibilities & duties of CEO
So, what does a CEO do? Here is the list of their basic roles or responsibilities:
- Formulate and implement policies for operation
- Make important decisions regarding policies and strategies
- Report to board of directors
- Develop an organizational environment which promotes good morale and performances
- Act as primary spokesperson of the organization
- Recruit and manage new staffs
- Build alliance and rapport with other organizations
- Win new businesses and retain existing ones
- Keep board of directors influenced about updates
A CEO’s duties differ from organization to organization. For example a bank’s CEO has to perform different duties from an educational institute’s CEO.
Employers of Chief Executive Officer
- Banks and financial institutions
- Public Organizations
- Hospital and private clinics
- Educational institutes
- Corporate businesses
- Charity Organizations
All organizations need and seek a CEO to ensure that all the operations and management take place smoothly and solidify company’s position in the market.
Qualifications and Training
If an individual wants to become a CEO, the qualifications that will be required will for the most part comprise of the four years college education, in an industry that they want to enter. They then may pursue Master of Business Administration (MBA) relevant post-graduate degree qualification. These sorts of programs can be undertaken alongside the work. One can pursue these degrees after gaining some work experiences as well. Students can study part time and work part time to apply the practical knowledge into their studies. MBA students can apply for classes in administration, money finance or economics.
An individual must garner fair amount of experience in the related field before aspiring to be a CEO. Since CEOs have to provide direction and guidelines to a business, they must be capable enough to identify risks and opportunities. High level managerial experience is needed so that the individual has good experience of managing and supervising. To be a CEO, it requires years of hard work and patience.
Required skills or job specifications for CEOs
The position of Chief Executive Officer is not as glamorous as it may seem. There are many vital responsibilities to perform for which one must develop certain skills:
- Good communication and interpersonal skills
- Ability to work under pressure
- Strong influencing personality
- Ability to inspire
- Strong leadership skills
- Problem solving abilities
- Good judgment
- Ability to make good negotiations
- Ability to build good rapport