Chief Executive Officer Responsibilities
The Chief Executive Officer or CEO is responsible for the overall success of the company. This includes all the marketing strategies, finances, sales and operations, company activities and operations and so much more.
With this stated the CEO is also responsible for the company’s failure or demise.
The main duty of the Chief Executive Officer is creating the overall company strategies. This includes the long term and short term goals, mission and vision, as well as the business model that the company will follow. The marketing strategies will include setting up fund raisers, promoting product lines, monitoring the progress of the company as well as its competitors and deciding on the potential markets that the company may want to participate in or enter. All these decisions lie in the hands of the chief executive officer, therefore highlighting his or her importance in the company.
The CEO is also responsible for building company culture. How people work in an environment and how they are driven to get the job done greatly depends on the culture they are exposed to in the workplace. Of course it is essential to make sure that the people under the CEO are comfortable and able to work at optimum efficiency, being able to contribute only the best of their capabilities to the company. Therefore the overall attitude of the CEO will greatly dictate how he or she is overseeing the company as well as his subordinates. A good workplace is one that will attract equally good employees, and this is what is necessary in the business. Therefore CEO’s are determined to get the employees morale at a high level. It is through the CEO’s actions that the company acquires these cultural messages.
To ensure that everything works well in a company it is important to create close professional ties with other employees and this is why it is very important to know how to work well within a team. This communication strategy is what keeps the ties within a company strong, and therefore ensures the correct and essential flow of communication between departments. It is not enough that there is good communication flow within the company. The efficacy also relies on good employees so it is the CEO’s job to keep those that are good performers and fire those that aren’t. The goal of the company set and it is essential to keep the company moving forward, in that direction and towards that goal.
The finances and capital of the company is a factor that is also under the CEO’s jurisdiction. The funding therefore undergoes a thorough deliberation and analysis before any action towards it is executed. Therefore, certain strategies have to be created to effectively disperse the needed funding. The company has its own share of investors and stockholders that have high expectations with regards to the company performance. Though some CEO’s may not be entirely knowledgeable with regards to the proper allocation of funding within the company, the fate of the company still remains in their power.
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