CEO stands for a Chief Executive Officer, who is responsible for running or leading a company.
By its nature, a CEO job requires him or her to meet the needs of customers, employees, investors, the law, and communities. Some of the above roles can be delegated, but a CEO must do most of these responsibilities.
Today the CEO position is one of the most sought-after titles in many companies.
However, this same position is the least understood position in companies.
Since CEOs are responsible for running companies, everybody believes that they are magically competent, all-powerful and they can do anything they want.
However, if you want to be a good CEO, then you must possess certain traits, which will make you a good fit for the position.
CEOs often delegate the management of company finances, typically in the millions and hundreds of millions of dollars, to chief financial officers, or CFOs.
This is especially true in publicly traded companies where CEOs are ultimately responsible for ensuring shareholders see returns on their investments. With this comes legal responsibilities to shareholders that include the duty of care and the duty of loyalty — intended to promote transparency and trust and to protect key stakeholders in a business.
As the top executive at large companies, CEOs receive guidance from the board of directors as to the vision and goals of the organization. In the case of private companies, CEOs take direction from the owner(s) of the company. Either way,
it is necessary for CEOs to delegate day-to-day management responsibilities to other top executives to be able to focus on strategies that will drive the success of their business
Elias Moses, Managing Next