Full Form

CEO Full Form

CEO Full Form: CEO refers to Chief Executive Officer. He/she is the most senior corporate officer or administrator in any organisation, be it private or public, and looks after overall management and administration which directly reports to the chairman or board of directors. In private organisations, CEO performs his task to increase the revenue, share value, the brand value of the organization and in a government organization, CEO intends to work towards the social welfare, reducing poverty, generating employment etc. It requires a lot of hard work, experience, and business networking to become a CEO.

The position of a CEO is referred to as MD (Managing Director) or ED (Executive director) in some companies.

This article contains the full form of CEO, the job description for him/her, his/her qualities, responsibilities, authorities, a few examples of great CEOs and educational qualification for the position.

CEO of Skills & Competencies

Following are the common skills which a CEO should possess in order to excel in his role-

Interpersonal skills

CEOs need to form good relationships with stakeholders of the company, making a significant input to the strategic decisions and direction.

Analytical skills

CEOs must participate in the creation of measurable strategic goal which adds to the success of the organization.

Management skills

 The CEO is responsible for creating a culture of learning to help develop and grow the skills and abilities of employees. 

Qualities of CEO

Effective leadership is the most important aspect of a company for its success. A CEO must possess these certain traits to become a great leader:

  • Ability to learn from the past
  • Strong and balanced communication skills with the owners as well as the managers.
  • Listening skills- Top executives are distinguished by the consistency with which they listen to, and actively seek out the ideas and opinions of others. 
  • Willingness to take calculated risks to make a business grow.
  •  Adapting according to changes in the internal and external environment.
  • Thinking outside the box

Authorities of CEO

 CEO is appointed by the board of directors of a company, to act on behalf of the company’s owners (shareholders), to handle the business on a day-to-day basis. He/she enjoys the full power to do anything he or she wants internally (hire or fire employees, set pricing, change the company logo, approve product development, etc.) and externally (such as make investments in—or even acquire—other companies).

CEO Duties & Responsibilities

He is responsible to for bringinganges by applying policies and motivating the employees. The job duties of a Chief Executive Officer (CEO) in an organization vary depending on the organization’s mission, productgoals, and operational needs, size of the organization and the number of employees o stay profitable. CEO works towards creating, communicating, and implementing the organization’s vision, mission, and overall direction.

  • Act towards strategic planning, business development, and fiscal operations..
  • Open to receiving  advice and guidance, when appropriate, from a Board of Directors
  • Measuring and evaluating the actual performance with the set benchmarks.
  • Taking corrective actions while implementing potential acquisitions or the sale of the company under circumstances to enhance shareholder value
  • Representing the organization for civic and professional association responsibilities and activities at every level.

Examples of a few great CEO

Sundar Pichai – CEO of Google

Ginni Rometty – CEO of IBM

Doug McMillon– CEO of Walmart

Meg Whitman– CEO of HP

Satya Nadella – CEO of Microsoft

Education, Training, & Certification-

Education and training requirements vary from the industry. Minimum academics a candidate need to qualify to get hired for the position of CEO is a bachelor’s degree and a considerable amount of work experience. Many companies prefer to hire internally rather than from an external source.

Experience: CEOs usually need extensive experience in management and experience in the industry to which the recruiting company belongs.

CEO remuneration 

The average remuneration of global CEO salary is around $3.6 million (Rs 23.6 crore), while it is $1.5 million (Rs 9.76 crore) for Indian CEOs (as per FY18)

However, the total  remuneration of a CEO depends on his experience and expertise

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Education is the passport to the future, for tomorrow belongs to those who prepare for it today.

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