A CEO is the head of a company, someone who reports only to the board of
directors and stockholders. CEOs make all the final decisions. They formulate
the policies and direct the operations of corporations, associations and nonprofit
organizations.
The goal of a CEO in a private company is to make money for the stockholders
and owners. CEOs of nonprofit organizations implement programs to further
the organization's cause.
In collaboration with top executives, they establish goals and policies
for the company. However, the chief executive officer retains overall accountability.
"The statement, 'It's lonely at the top,' can't even begin to describe
this position. Even after you've talked to your senior staff and board of
directors, the final decision is ultimately yours. It's not the glamour job
that I would have originally considered it," says Cary Howell, CEO of a communications
company in Atlanta.
The responsibilities of a CEO vary widely depending on the size of company.
In large corporations, high-level executives may be responsible for marketing,
sales, promotion, finance and personnel, and then report back to the CEO.
In smaller organizations, the CEO may be responsible for any or all of those
functions.
CEOs are often provided with a spacious office and secretarial staff. Long
hours, including weekends and nights, are the rules. But the hours may be
flexible. Travel may be required, as well as attending meetings and conferences.
"My day starts at 4:30 a.m. and sometimes doesn't end. I have been in this
office for up to 43 hours straight," says Howell.
Chief executive officers work under intense pressure to reach profit, production
and marketing goals. Those in charge of companies that aren't performing well
may find their jobs in jeopardy.
"One thing that a successful CEO must do is put people around him that
he can trust to get the job done. It's no different in that respect than the
president of the United States," adds Howell.
What do companies look for in a potential CEO?
- Flexibility and general management skills
- Fiscal management and marketing skills
- Interpersonal skills
- Government relations knowledge
- Human resource management skills
- Technological knowledge
- Energy and empathy
- Leadership characteristics (vision, decisiveness, integrity)