The Chief Executive Officer is one of the most coveted titles, and least understood jobs in a company. Everyone believes that CEOs can do whatever they want, are all powerful, and are magically competent. Nothing could be further from the truth. By its very nature, the job description of a CEO means meeting the needs of employees, customers, investors, communities, and the law..
The most common jobs that a CEO has to do are :
- Setting strategy and direction.
- Modeling and setting the company’s culture,values and behaviour
- Building and leading the senior executive team
- Allocating capital to the company’s priorities
In the case of a startup, the CEO’s responsibilities include everything; hiring, firing, operations, marketing & sales, public relations, fund-raising, forming partnerships, strategic planning, company culture, team building, bookkeeping, taxes, human resources, and the delegation of work and responsibilities within the company (which are in constant motion).
A CEO will typically work in an office environment, and will often travel in order to meet with clients or potential partners and investors. Their hours are not on a typical nine-to-five workweek schedule, especially if running their own start-up. Most CEO’s work long days, sometimes 12 to 16 hours, and their workweek often extends into the weekend.
While chief executives aren’t required to attend college, very few people make it to the top of the corporate ladder these days without some form of formal education. In fact, according to Forbes approximately 40% of S&P 500 CEOs have an MBA. So why is having a formal education so important? There is no simple answer to that question; however, completing university courses does provide one with exposure to a number of disciplines and causes a person to think, interact and share ideas with others, which are valuable experiences for a CEO to have.!