From Visionary to Executor: A Breakdown of CEO Duties and Responsibilities
In 2023, 5.5 million Americans applied to start their own business. If you've considered entrepreneurship, there's no better time than the present. One can only expect more businesses to sprout up in the near future. But what would you do if you became the CEO of a company? It's certainly a rewarding career. However, one must know the CEO duties and responsibilities. This brief guide will explain the CEO job description so you can decide if you'd like to pursue the opportunity.
Here's what you need to know:
The Job of a CEO
A Chief Executive Officer is the highest position in a company. The CEO can also be the founder of the company, but this isn't always necessary. In the simplest terms, the CEO manages the company's operations.
They must have a vision for the company. They must think about how the company can expand and achieve new milestones.
For example, Steve Jobs is one of the most visionary CEOs in recent history. Under his direction, Apple didn't only make the best computers. They also made excellent laptops, MP3 players, and a smartphone!
Another example is when Reed Hastings realized that Netflix couldn't simply mail DVDs to customers. They had to offer streaming for films and TV shows. Eventually, as the company grew, it had to produce original content.
Being a CEO means you'll have to sell this vision to your team. You'll have to oversee the company's operations to see this vision come true. CEOs must keep track of industry trends and opportunities to prepare their vision.
They are appointed by the Board of Directors. Likewise, they must report to these directors to show their company's progress.
CEO Duties and Responsibilities
A CEO's major responsibility is being your company's public face. You should speak at conferences, seminars, and panel discussions to promote your brand. Furthermore, they are expected to be interviewed by journalists and appear on podcasts.
They must monitor their company's performance at all times. At any given moment, you should know if your company is making a profit or loss.
The Board of Directors holds the CEO accountable. They'll have to report the progress or lack thereof to the directors. This is why the CEO must work closely with other leadership positions to ensure all operations are running properly.
It's also their responsibility to set the workplace culture. The "wacky" culture of Zappos was determined by the late Tony Hsieh. Enzo Ferrari always had a hands-on approach during the production of a new car. You'll have to decide the best work culture for your company.
Become a CEO
Now you know the CEO duties and responsibilities and can decide if you're ready for it! You'll ultimately have to prepare a vision for your company. You need to research the trends to decide what you wish to achieve with your company. You must also take an active role in promoting your company and overseeing daily operations. Business Watch Global is the best resource for aspiring entrepreneurs, so read more of our blogs for more business advice!
