Connect with us

How To

What does CEO mean and what are the functions of the Chief Executive Officer?

In the world of business and corporate management, becoming the CEO of a company is the dream of the most capable leaders. Being CEO represents having reached the pinnacle of career success. I explain what it is to be Chief Executive Officer and the keys to becoming one of them.

It may interest you: the training of CEOs MBA in Digital Business

Index of contents

  • What is a CEO in a company?
  • The role of digital leaders – Discussion table #DigitalLeaders
  • Roles of a CEO: the keys to becoming an Executive Director
      • Establish the orientation and strategy of the company
      • Building C-Suite level management
      • Balance of resources
      • Balance of generated value
  • What to study to be an Executive Director?

What is a CEO in a company?

As I was saying, people with the soul of a leader inevitably aspire to be CEO within a company. But all that glitters is not gold, and if it is true that being the Chief Executive Officer of a company carries great power, it is also true that it carries great responsibility and great stress. And it is that, in a simplified way, we can say that the great role of the CEO consists in simultaneously satisfying the needs of shareholders, employees, clients, collaborators and legal and social entities. Not an easy subject.

The role of digital leaders – Discussion table #DigitalLeaders

The functions and responsibilities of a CEO vary according to the characteristics of the company he represents depending on elements such as the organizational structure and the size of the company . In smaller companies, the CEO takes on practical roles in certain departments of the company based on his experience and more technical skills.

Advertisement

In contrast, in larger companies, the CEO generally only deals with the high-level corporate strategy and the most relevant decisions of the company, delegating and controlling the rest of the tasks to the C-Suite level managers as CFO, CMO, COO and CIO.

If you do not know the meaning of these acronyms, do not worry, consult our article CFO, CIO, COO and other acronyms of high positions.

Roles of a CEO: the keys to becoming an Executive Director

These are the main functions that every CEO should have and that I will further develop in depth:

  1. Great business and innovative vision
  2. Analysis capacity for decision making
  3. Leadership and management of large teams
  4. Talent recruitment
  5. Bargaining power
  6. Motivational ability

Establish the orientation and strategy of the company

Setting the long-term direction of the company is one of the most important tasks of a CEO. We refer to establishing the vision , the purpose of the company, that is, its reason for being, and the values that will delimit the red lines that should never be overstepped.

As part of the company’s orientation, it is the direct responsibility of the CEO to build a healthy and appropriate business culture, establishing insurmountable values , and in turn assumed naturally by practically the entire organization.

In addition to setting the orientation, it is also the direct responsibility of the CEO to design and define the strategy at its two main levels, that is, the corporate strategy that answers the question of “Where will the company compete?”, And the competitive strategy that answers the “How will you compete?” question.

Advertisement

A good CEO is able to balance and keep the company focused, dedicating 70% of its resources in its Core Business, and being able to encourage and promote its directors to take the remaining 30% to areas of innovation. 

Building C-Suite level management

On the one hand, we have that a company must not grow faster than its ability to find the right people for the right jobs. And on the other hand we have the pressure exerted by the shareholders towards the CEO for growth. With these two elements we come to the conclusion that it is indisputable that a main function of the CEO is to build the best of the management teams at the C-Suite level

It is therefore the function of the CEO to choose his managers, as well as their training and sufficient freedom of action so that they can carry out the necessary tasks in favor of achieving the vision. The CEO has an obligation to delegate, but must do so before the best management team.

Balance of resources

The resources of an organization such as capital, people or tools are limited , however, they are essential for the proper functioning of the different departments. A balance of resources towards one or the other department clearly marks the priorities of the organization.

It is the direct function and responsibility of the CEO of an organization to balance resources between departments to achieve the desired purpose. It is also their function to request the shareholders for more financing, if necessary, through the board of directors to increase the available resources.

Advertisement

Balance of generated value

The CEO of any organization is elected by the board of directors of a company, who are the representation of the shareholders, that is, the owners of the company. The CEO is also usually part of said board of directors and, on numerous occasions, holds the presidency of it .

These facts make it the responsibility of the CEO to create value for shareholders, but it is also his responsibility to create value for the workers and for the society in general that surrounds the organization. This makes the CEO a true tightrope walker in creating value .

This is not easy at all, because in many cases there are opposing forces in terms of objectives between shareholders, staff and society. Shareholders want growth to increase their profits. In many cases, this growth implies greater pressure on workers for productivity and efficiency. And furthermore, growth implies a higher production that in many cases translates into an increase in pollution.

To these four main functions of the CEO we can add others such as the ability to motivate the staff with a focus on objectives, the development of activities at the level of public relations with markets or public administrations, the management of higher level human resources, the control of financial and fiscal management, as well as the detection of trends that may pose an opportunity or threat to the organization.

What to study to be an Executive Director?

As we have mentioned, there are people who are born with the soul of a leader and who stand out in all areas of their lives due to their strategic planning and management nature.

Advertisement

To become CEO of a company you need proven experience in leadership and management of people, resources or even markets. The business world is a very competitive sector where added value and the competitive difference between people is very decisive.

That is why training is essential to highlight and validate knowledge that not all profiles acquire. Having an MBA opens many doors, due to the reputation of this degree, the associated networking and the quality of the training.

This training in Business Management and Administration is essential to start working in lower positions of team and organization management. Without a doubt, if your goal is to become CEO, this is the training that will take you professionally to the top of any organization.

The success of our students endorses the MBA that we offer from the school and in which each call we work so that obtaining it takes you to the labor market not only because of its reputation but also because of the content and work that you are going to do.

Guide
Types of online MBA
to download

Advertisement

Who said they wanted to be the CEO of an organization? Those of you who, despite everything we have seen here about the functions and tasks of a CEO, remain convinced, deserve all my admiration and respect, and I sincerely wish you the best of luck. I encourage you to share with your community and thus be able to count on the leaders that we as workers and society need.

MBA in Digital Business

Get to be the leader that companies are looking for
I want to know more!

Leave your vote

Continue Reading
Advertisement
Click to comment

Leave a Reply

Il tuo indirizzo email non sarà pubblicato.

Crypto

How to Create Account in EXMO step by step

In this article you will learn how to register in EXMO in 2022, as you well know it is a cryptocurrency platform to trade, as well as buy and sell digital currencies. Next, we are going to make you a quick and easy guide to create your account.

How to open an account in Exmo.com step by step

Access the official website of EXMO to be able to register for free.

Select “Registration”

At the top right you will have a Registration button, click on it and there you will open a form to place basic data such as username, email, telephone, password and its confirmation, as well as the acceptance of terms and conditions of the platform.

Likewise, if you want you can subscribe to receive news you just have to activate the option. then activate the captcha and click on “Registration”

Phone and email verification

They will send you an SMS to the registered phone to place the verification code and give it confirmation. The same will happen with the email, in which they will send you an email with a link to confirm the account and activate it.

Advertisement

Account Verification

Once you have completed all the registration, you must verify your account, this is quite important that you do it so that you do not have limitations, it is a financial platform and as such, by regulation you must verify your identity and address.

  • For identity, you can do it through your ID, passport or other identity document, also a selfie with the document, you can support yourself by linking the mobile if you do not have a webcam.
  • In the case of the address, it would be verified with a bill for services such as electricity, water or other document where they can verify your location or residence, this is to raise the limits further.
  • For the card, you need to enter your card details and even take a photo and attach it.

Ideally, you should verify everything, but the first thing is the identity, in which you will be required name, surname, middle name in the case you have. Secondly, you will be asked to identify what type of document you are going to use to identify yourself, for example, the DNI.

After that, you must upload a photo of the front and back of the identity document, if you do not have them at hand, you can do it with your mobile and send it to you by mail or web whapsapp or another application, and then upload it from the computer.

Once this is done, it will request a selfie with specific details, where you must write down on a paper the word EXMO, followed by the date of the day of the photo and hold the DNI without covering anything, there you capture the photo and attach it, with these steps you will already be in the process of verifying the identity.

Likewise, you can do it to verify the address with a receipt and in the case of the card you must do the same, they are similar processes quite simple, the idea is that you complete the entire registration process.

Configuration

Another important point regarding registration is the security configuration in which you can add extra protection and have two-step authentication. Likewise, you can observe other options such as personal information, which you can review carefully.

Advertisement

Leave your vote

Continue Reading

Crypto

How to create an account on Poloniex step by step

In this article you will learn how to register with Poloniex in 2022, it is a cryptocurrency trading platform, where you can trade with margin or leverage and you can also do hodl. Here’s a step-by-step way to create an account on Poloniex.

Go to the official website of Poloniex

Access the Poloniex registration page to later follow the step by step that we will give you to register for free.

Select “Sing Up”

Once you are on the platform you must select in the left menu “Sing Up”, where you must enter the email and password, the latter you must confirm it. Additionally, you must place the referral code (optional), as well as accept the terms and policies that govern this page.

Verify your email

Once the previous form has been completed, you must check the email where a link will be sent for the purposes of verifying the email, in order to continue with the account registration process.

Account access

With the email and password data entered, we select “Log In” and access. Among the important things that there are is the “profile”, where you will have to verify your account.

Advertisement

If you want to apply margin for trading or leverage you must verify your profile in “Upgrade” you will be able to select other aspects that will help you verify your identity, you will probably be asked to upload a file, such as a photo of the DNI or an invoice to verify the address.

Then, in the event that you want to use the future option that allows margin up to one hundred leverage, you have to have verified these things.

This request is totally normal, since it is required by all financial platforms by legal issue, with this you would already have verified level 2 and with it you would not have any type of limit.

Right now, you could make all kinds of deposits, normal purchases with certain fairly high limits.

Two-factor authentication verification

To protect your account you can activate 2FA this is double authentication code, so you must enter a code apart from the password to be able to log in.

Advertisement

Leave your vote

Continue Reading

Crypto

How to Invest in Cryptocurrencies on Skrill

If you are one of those investors who do not like to deal with many complicated orders, but prefer to hold long-term, then Skrill is an excellent alternative for you. With the simplicity that characterizes it.

But the question is, how to invest in cryptocurrencies within Skrill? The answer will be shown in this article.

But first log in to your Skrill account, then you could already start the step by step that will be shown below.

Access Skrill’s Cryptocurrency Investment Options

Like any financial platform, Skrill puts at your disposal tools so that you can invest in cryptocurrencies within yourself, doing so in a simple and comfortable way. To access these tools, below, we will describe the following procedure:

  1. Within the home screen of your account, in the left sidebar, find and tap on Cryptocurrencies.

Important: It is likely that when you enter this section, you will be asked to accept some terms or similar.

Advertisement
  1. Once there, you are presented with different options in terms of cryptocurrencies. From among these, you will select Invest now, clicking on this option.

  1. Once you access that section, you will be shown an extensive list of existing cryptos in Skrill. In each of which, you are given a Trade option. If you click on any of these, you would enter their trading options.

  1. When you have entered the crypto you chose, you will see a Buy – Sell panel.

Ways to trade cryptocurrencies in Skrill.com

In this buy-sell panel or trading box, you will have some options that will allow you to perform these operations:

Steps to buy cryptocurrencies within Skrill

First of all, talking about the purchase of cryptocurrencies in the Instant mode (which is the usual one), you will be able to do the following:

  • Select the currency in which you want to buy cryptos.

  • Set the amount to spend that, for its purposes, must be a minimum of 10 EUR (You are also shown the balance you have available).

  • Select the cryptocurrency in which you are going to invest.

  • See what you are going to receive in cryptos in equivalence for what you have invested.

  • See the commission you will be charged for that transaction.

When you have everything ready, then you can click Next.

After this, you will be able to see the summary of the entire operation; you will be told everything you have added, such as the amount and what you would receive, and also the commission charge, which will be added to the total amount to be spent. If you agree with everything, you can click on Confirm.

Steps to Sell Cryptocurrencies within Skrill

There is not much to comment on in the case of selling your cryptos within Skrill, as they are basically the same steps as in the case of the purchase:

Advertisement
  • You establish the type of crypto that you are going to sell (and that logically, you should own).

  • You indicate the amount of cryptocurrencies to sell directly or, if you prefer, using the percentage indicators.

  • Select the currency in which you want to receive the funds in equivalence.

  • See how much you will receive, in the same way as the previous case.

Having this ready too, you would click Next.

Following this, you must also click on Confirm in a summary similar to that of the case of the purchase, where you will see important data with which, if you agree, you can proceed to the respective confirmation.

Some other options that Skrill gives you to trade

The options you have in Skrill to trade are very practical and easy to use. And for your convenience, they are not numerous. Here’s what you can find on Skrill for when you want to trade on it:

The Portfolio section

In this section you have at hand some useful things for your negotiations, such as:

  • The Watchlist, with which you can keep abreast of the indices of your cryptos in the market.

  • Alerts and orders. With these options you are given the possibility to mark an index within the cryptocurrency, which, if the price reaches it, this will be notified to your email or mobile, as you have it configured.

  • Recent activity. It is the section where you will get your last financial movements, when it comes to purchases and sales, as is logical.

The Trade section

Within this section, you can do what you are told below:

Advertisement
  • Visualization of Graphs. This will allow you to take a look at the stock market movement in a not at all complex interface (you can also see the current trend that the market has in terms of sellers and buyers).

As you can see, the trading system within Skrill is not complicated. They are few and simple options, but with the same utility for people like you who do not want to get too entangled in the stock market issue, but to play it safe, but in a simple way.

This tutorial summarizes it this way so that you have a general idea when investing in cryptocurrencies within Skrill.

Leave your vote

Continue Reading

Trending

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.