Chief Executive Officer (CEO) 101
In order to keep a business running as well as possible and to ensure that goals are met, there are different roles. In larger companies, one recognizes that the activities of the employees differ more from one another than in smaller companies. This diversity applies in particular to the larger companies and corporations. For further growth, it is good as a CEO to sometimes take a critical look at which skills your company still lacks. In some cases you will find that there are activities that can be done more efficiently. The conclusion that things can be improved is not always easy. However, recognizing your own weaknesses is exactly what it takes to help your business take the next step.
A role that exists in every company is the Chief Executive Officer, also known as the Managing Director. According to abbreviationfinder, the person holding this job title has various responsibilities. The most important is his responsibility for the overall success of the company and making management decisions at the highest level. Incidentally, this does not mean that he decides everything on his own; advice or input is often sought from other employees. However, the final decision rests with the CEO.
Tasks of the CEO
While others focus on a specific common task within the organization, the CEO focuses primarily on tasks that affect the organization as a whole. For example, representing the company to the media or other companies. You can also see the CEO as the face of the company. In addition, the CEO’s responsibilities include managing, hiring, evaluating, promoting and firing personnel. The management of budgets, the creation of contracts and agreements is often in the hands of other positions within the company. However, the managing director often has a monitoring function to see if everything is going according to plan. After all, corporate management is an important part
The board of directors also plays an important role in many companies. This is a group of people elected to represent the company’s shareholders. The CEO often sits on the board of directors and in some cases is also the chairman. He tells and justifies decisions made. Sometimes, however, there is no board of directors and the company is formed, for example, from own capital or savings.
Role per company: small vs. large
The role of a CEO is often not so black and white and overlaps with other roles within a company. The range of tasks is also different depending on the company, the organizational structure and the size of a company is also an important factor. In smaller companies, the CEO often also deals with less important business decisions such as job interviews. Small companies often have a flat organizational structure. In large companies, for example, this is part of the HR manager’s job, and the CEO focuses on tasks such as long-term business strategy.