CEO Full Form
CEO refers to Chief Executive Officer
They are the most senior corporate officers or administrators in any organization, be it private or public. They oversee overall management and administration and directly report to the chairman or board of directors.
In private organizations, the CEO performs his task to increase the organization’s revenue, share value, and brand value. In a government organization, the CEO intends to work towards social welfare, reducing poverty, generating employment, etc. Becoming a CEO requires hard work, experience, and business networking.
In some companies, the position of CEO is referred to as MD (Managing Director) or ED (Executive Director).
This article contains the full form of a CEO, the job description for them, his/her qualities, responsibilities, authority, a few examples of great CEOs, and educational qualifications for the position.
CEO of Skills & Competencies
The following are the common skills that a CEO should possess to excel in his role-
CEOs need to form good relationships with the company’s stakeholders and contribute significantly to strategic decisions and direction.
CEOs must participate in creating measurable strategic goals that add to the organization’s success.
The CEO is responsible for creating a culture of learning to help develop and grow employees’ skills and abilities.
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
CEO Duties & Responsibilities
The job duties of a Chief Executive Officer (CEO) in an organization vary depending on the organization’s mission, product, goals, operational needs, size, and the number of employees to stay profitable. CEO works towards creating, communicating, and implementing the organization’s vision, mission, and overall direction. He is responsible for bringing angels by applying policies and motivating the employees.
- Executing pivotal business decisions.
- Establishing a dependable environment for operations.
- Motivating, inspiring, and backing the workforce.
- Innovating business strategies, methodologies, and protocols.
- Overseeing all operational facets.
- Delegating tasks and roles to subordinate officers.
- Participating in the recruitment of board members.
- Advising on or proposing an annual budget to manage the organization’s finances effectively.
- Becoming a CEO doesn’t always demand extensive educational qualifications.
- The company’s board of directors selects the CEO to lead the organization.
- Many CEOs have backgrounds in fields like science, law, or engineering.
Education, Training, & Certification-
Education and training requirements vary from the industry. The minimum academics a candidate needs 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.
Authorities of CEO
The CEO is appointed by the board of directors of a company to act on behalf of the company’s owners (shareholders) and handle the business on a day-to-day basis. They enjoy the full power to do anything they want 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).
The average remuneration of a 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.
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
The full title of CEO is Chief Executive Officer. They are the most senior corporate officer or administrator in any organization, be it private or public. They oversee overall management and administration and directly report to the chairman or board of directors.
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