The duties of a Chief Executive Officer range from planning, directing, and coordinating operational activities to ensure the company meets its goals. The CEO reports to the board of trustees or to the owner of the organization. The duties of the CEO of an organization range depending on the size of the organization which means that they typically work more than 40 hours per week. Their duties consist of the following but are not limited to:
• direct and oversee finances and budgets
• manage general activities to ensure the product or service they offer is being done correctly
• oversee the work of other executives who direct the activities of various departments
• negotiate and approve contracts and agreements
• appoint managers and heads of departments
• analyze financial statements, sales reports, and other indicators of performance
• identify where costs could be cut and where to improve performance, policies, and procedures (The Bureau of Labor Statistics, 2015, n.p.).
The responsibilities of CEO’s are tremendous which is why they are under constant stress as they are the ones the board of directors looks to for answers in regard to the organization.
CEO’s work in nearly every industry whether it is for a large or a small business they must be ready for any challenge. Travel is particularly common for chief executives as they negotiate and close agreements beneficial to the business. Additionally, CEO’s must be willing to give up evenings and weekends as their job will take up most of their time. The job of a chief executive demands a lot of attention which means that a lot of stress will come with the job.
Education and Prerequisites: Chief Executive Officers
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...erships, and other company perks (The U.S. Bureau of Labor Statistics, 2015, n.p.). The salary of a CEO varies depending on how large the corporation is and the location.
As companies struggle to stay afloat the demand for CEO’s fluctuates depending on the economy. The job outlook for CEO’s is projected to decrease 1% from 2014-2024. This means that it is highly competitive for those top executives who wish to land a position as the Chief Executive Officer of an organization. For this reason chief executives with a Master’s or even a Doctorate degree along with various years of experience have the best chances of securing a job (The U.S. Bureau of Labor Statistics, 2015, n.p.). Although, job opportunities for CEO’s are projected to decrease it is uncertain on whether a candidate will secure a job due to the correlation between the economy and the demand for CEO’s.
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