Managing Director

economic-dictionary

The CEO of a company is the person who is ultimately responsible for the administration of a company or entity.

The CEO is the highest authority within the hierarchy of a company or entity. He is in charge of making relevant decisions in the company. It is about the person who directs the course of the institution and must answer for its results.

Duties of the CEO

The main function of the CEO is to lead the company or institution to meet its objectives in the most efficient way possible. To carry out this task, the CEO must do the following activities:

• Define the objectives to be achieved: These can be agreed with the owners of the company or entity.
• Plan: Develop a strategic plan to carry out the objectives set
• Organize: Which also implies delegating activities to your team
• Make decisions: The director must be the one who makes all the decisions that have a significant impact on the company and its development.
• Anticipate: Being able to anticipate, as far as possible, the changes or risks that the company will face in the future.
• Communicate: You must transmit the decisions and strategy to the rest of the team.

Characteristics of a good CEO

CEOs may have different personalities or management styles. The successful ones usually have the following characteristics:

• Have leadership.
• Be able to motivate your team.
• Good communicator.
• Organized.

Need for a CEO

Companies or organizations require a person responsible for the management of the company. Above all, when there are different departments and work teams, the general manager is a necessary figure to coordinate the different actors and ensure that the work they do separately converge to achieve the objectives set.

Without a figure that is ultimately responsible, the departments and people who participate in them, can lose their way by not having a global vision of the company and its objective.

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