CEO is one of the most coveted, and least understood, jobs in a company. Everyone believes that CEOs can do whatever they want, are all powerful, and are magically competent. Of course, nothing could be further from the truth. By its very nature, the job description of a CEO means meeting the needs of employees, customers, investors, communities, and the law. Some of a CEO’s job can be delegated. But several elements of the job must be done by the CEO. Read on for the details of what makes a CEO.
Step by step guide to becoming a chief executive offiver
What does a CEO do?
The CEO has specific responsibilities depending on the needs of his or her organization. The job description of a CEO varies by organization. The CEO has overall responsibility for creating, planning, implementing and integrating the strategic direction of an organization. This includes responsibility for all components and departments of a business.
The CEO makes certain that the organization’s leadership maintains constant awareness of both the external and internal competitive landscape, opportunities for expansion, customers, markets, new industry developments and standards, and so forth.
The CEO reports to the Board of Directors or in some nonprofit settings, such as state government, the CEO may be the head of an agency or department and report to the office of the governor. The CEO serves at the discretion of the Board of Directors.
The CEO may also own the business, and may have founded the business, so his or her commitment to the business is significant. He may also own a significant portion of the company or its stock. In these cases, a Board of Directors may exist, but its authority is nominal and advisory.
Whether the top person is president and CEO, or just CEO, he or she is the top person in command in an organization and has specific responsibilities depending on the needs of his or her organization.
What kind of skills are required?
Any individual who aspires to become a CEO, rising from the working ranks to a lower executive position into the highest levels, must have certain key attributes that distinguishes them from other employees. Some of these skills are listed below.
- An ability to be a risk taker and be optimistic in nature
- An ability to ask the right questions, gather facts, and make quick decisions
- Excellent communication skills with team members, the board, and other stake holders
- A CEO cannot be at all places all the time. As a result CEO must be able to delegate trust others