What does CEO stand for?
CEO stands for Chief Executive Officer. It is the highest position anyone can get up the corporate ladder. Being a CEO, means you are the boss of all bosses. But CEO functions may vary from one organization to another. Even the job title CEO may not be the same for other companies. In these companies, the CEO may be called as President or Executive Director.
A typical CEO oversees the entire operation of a particular organization. Though he/she may delegate some tasks, CEOs are still considered responsible for the entire organization like in making policies and setting goals. They are viewed as leaders and are in-charge of directing employees to accomplish the organization’s goals. In large companies, CEOs may also meet with senior and top managers of his particular organization to formulate the things they want to achieve.
CEOs also have the power to choose which people to trust and which people to manage the organization. These people form part of the senior management team, and they are tasked to also have people below them that can help contribute to achieving the entire organizations goals. For some, this is a tricky function for a particular CEO, because this involves some people-handling skills. There will always be differences in opinion in terms of setting goals and priorities for the organization, so the CEO should stamp his authority in solving these differences on the senior management level if there are any.
Along with the organizations business plans and goals, CEOs are responsible for balancing the budget. Typically, CEOs choose which direction to go and select the appropriate projects to be funded or not. A great financial background is imperative for CEOs in order to manage the organization’s resources and implement policies that will propel further growth.
CEOs must also be good at public relations as people see him as the face of the organization. There may be a time for a particular organization that the CEOs image is crucial to its existence and/or continued success.