What does a Chief Executive Officer do?
The CEO oversees the overall direction of an organisation. They are responsible for developing and implementing strategies and policies to ensure that the organisation will meet the goals determined by the board of directors. They monitor the organisation’s performance indicators and any budgetary and financial activities. They appoint the Managers and department heads. They identify cost-cutting measures to improve the operations and performance to meet the organisation’s goals.
Chief Executive Officer skills and qualifications
Candidates for a CEO position should have senior management experience in the same or similar industry. A successful CEO candidate will have various prerequisite skills and qualifications, that typically include:
- Good communication skills
- Excellent problem-solving skills
- Leadership skills to lead senior management and to manage internal and external conflicts
- Time management skills
- The ability to use their judgment to make decisions
- The ability to prioritise between tasks and delegate, where possible
- Excellent planning skills to implement strategies to meet the organisation’s goals set by the board of directors
- The ability to manage and motivate staff
Chief Executive Officer experience requirements
When considering candidates for a CEO position, look for candidates with seven to 10 years of experience in supervision or management role with a proven track record in leading teams and achieving results. On-the-job management experience is essential, but candidates that have completed executive-level management and leadership development programs can also be considered.
Chief Executive Officer education and training requirements
There are multiple ways to become a CEO. A candidate could have completed a Bachelor’s or Master’s Degree in Business Administration, Law or Liberal Arts or could have professional qualification in fields such as business administration, management, law or finance. Certification by the Chartered Management Institute is a possible qualification for prospective CEOs. Another way candidates could become a CEO is by completing an apprenticeship of between two to three years that includes on-the-job training and completing courses through a training provider. Alternatively, candidates could have gained experience in senior management and business before applying for a CEO position.
Chief Executive Officer salary expectations
According to Indeed Salaries, the average salary for a CEO is £57,161 per year. The salary level for the Chief Executive Officer depends on the education, geographic location and level of experience required for the position.
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