In recent years, the keyword CEO is one of the top search terms. So What is a CEO?? To become a successful CEO, it takes many different qualities such as intelligence, agility, determination and patience. Besides, the success of the CEO is measured by a period of constant striving and learning. So, let's find out What is a CEO?What you need to know about CEOs and how they build their personal brands.
What is CEO?
What does CEO stand for?? Actually is an acronym for the phrase Chief Executive Officer. The term means the chief executive officer, whose role is to hold the responsibility for implementing the policies of the board of directors. CEO is the highest-ranking executive position in a corporation or organization.
What is the job of the CEO??
The CEO (CEO) has critical responsibility for the overall success of the entire organization. The CEO is the person who has the final decision to make the final decision for a company. Responsibilities of What is a CEO?? The creation, planning, implementation, and integration of an organization's strategic direction for the purpose of meeting its financial goals. This includes responsibility for all components and parts of the business or organization.
The CEO said that the leadership of the organization maintains a constant awareness of both external and internal competitive markets. Secure expansion opportunities, new customers, markets, developments and industry standards. CEO can make tough decisions based on a company's overall needs, values, and goals.
Depending on the size of each organization, the CEO usually reports to the Board of Directors. Where the CEO is also the founder of the company or the shareholder or owner himself, the Board of Directors largely has an advisory role to the CEO.
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The CEO's role in the business
CEO A person who plays a very important role in a corporation or organization. Therefore, to understand more about the role of What is a CEO?Please join us to find out according to the information below.
- Responsible for formulating strategies to fulfill the company's vision and mission.
- Responsible for planning and specific directions for the company.
- Directing and managing the construction and implementation of business plans for the organization approved by the Board of Directors.
- Responsible for the company's profit and growth. Ensure the company can achieve its short-term and long-term goals and operate most efficiently.
- Provide comments and suggestions to improve the company.
- Support to build, develop and promote the company's image and brand.
- Build company culture.
- Responsible for appraising and approving investment projects of the company.
- Acting as the representative of the company to negotiate and sign contracts with commercial partners.
- Approve matters related to financial policy, control and evaluation, budget adjustment and cost norms.
- Organize, administer and evaluate business activities of the organization periodically.
- Approving projects to develop, diversify products, distribute and market products to different channels in the market.
- Finalize human resource planning, recruitment. Approving policies on appointment, dismissal or regulations on salary, bonus and allowance. Browse the employee evaluation results, determine the reward results for employees at all levels.
- Organize the structure, build the management apparatus and operate the human resources effectively.
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5 Qualities of a Successful CEO
Qualities to be a What is a CEO?? This article will share the qualities required to become a successful CEO, specifically the following.
Balance between reason and emotions
This is one of the most important qualities of a CEO success. The CEO, when balancing this, will help the organization thrive. In an increasingly competitive market, a CEO needs to have a decisive mind to make decisions that are in the best interest of the organization. Although, when they make a decision it will be cruel to some of the affected subjects.
To make the most informed decisions, CEOs need to exercise emotions. A CEO's high EQ indicates their ability to perceive their strengths, weaknesses, and ability to manage emotions in any situation.
Have a strategic vision
In the current 4.0 technology business era, CEO It is necessary to have a firm grasp of the science of human management. This is the core element of the business. Without mastering "management techniques", it is difficult for an organization's executive to take over the activities of the departments. Especially the performance control is good.
And besides, a good manager is not only someone who is good at using management software, good at calculating numbers. In addition, they also have to go deep into people management, managing the emotions and minds of each employee.
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Thus, the CEO needs to have a long-term strategic vision. That vision needs to be clear. That is the top quality of a leader, especially What is a CEO?.
Creative thinking
CEO is a person who needs to have a high creative mind, pioneering ideas for the company's business projects. As a captain of a business, it is necessary to understand the responsibilities What is a CEO? If you don't innovate your business types and product packages, your brand will be drowned in a sea of brands that are rampant in today's competitive market.
One thing to keep in mind is that, any creativity is aimed at enhancing the customer experience. Services need to consider customers as the central object for all business strategies. Only then will the business strategy be successful as expected.
Inspiring person
CEO is an inspiration to work for employees, because one of the main responsibilities of the CEO is to find companions who always think positively for the development of the organization. Thus, a CEO should and should be diligent people to rekindle the inspiration of employees.
Therefore, in order to create a strong team, the CEO needs to constantly cheer and inspire each individual. This is done by holding a rules session for the staff. In particular, it is necessary to reward employees with outstanding achievements. And should organize periodic capacity assessment or emulation movement in the organization.
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Master in Communication, Negotiation, Persuasion
The CEO will need a way to successfully intersect operations across departments in the business. At the same time, to satisfy partners and loyal customers, the CEO needs to have his own special talent. They need to improvise different situations thanks to their excellent communication and negotiation skills.
Every decision of the CEO has great influence. Therefore, each written and oral decision has been carefully considered and calculated before making a final decision. A CEO also needs and should have a skillful way of communicating, then it will be very popular with employees. That is one reason why they are dedicated to the organization.
5 Essential Skills of a CEO
Know how to say no
The CEO is someone who searches for and captures new, bold ideas, and always seeks to expand the market for the business to go beyond. However, know how to refuse and choose for your business the opportunity to bring maximum profit.
Rejection is not easy, but if you can ignore other factors to choose the optimal solution for your business, the results are unexpected. Enterprises have the ability to expand scale as well as increase revenue and profit more. So focus on grabbing the best opportunity for your business
Know how to tell the story of your company
To be a CEO, go out and look for opportunities for your own company. Please demonstrate to everyone the capacity and potential of the company. However, getting others to understand the company's growth prospects is not an easy thing, so practice storytelling and make it a skill that you master and tell the story of the company. their own to everyone. From that CEO will be your company noticed from investors, trusted partners.
Understand financial matters
To understand the financial problems that the company is facing, the CEO first needs to have specialized knowledge to be able to read and understand the financial statements of the business. From there, grasp the advantages, disadvantages as well as opportunities and challenges for businesses in the present and in the future. At the same time, grasping the basic financial concepts will help the CEO to limit the risks that may be encountered later.
Accept criticisms
As a CEO, you should not dismiss complaints, lose the opportunity to transform yourself. Only when you stand up after criticism can you clearly demonstrate to others your true talent and ability. When you get better, you will become the focus, the object of criticism by others, listen and absorb it selectively and rationally, let yourself be hurt because of these things, consider it a valuable opportunity to learn and know how to surprise others with your change.. However, in some cases, the criticisms are not true, demanding. CEO Always be alert and behave appropriately.
Understand all operating procedures
Before being a CEO then you are an ordinary technical staff, a low-level manager and gradually go up. So make sure you understand the knowledge from the most basic to the most complex about the expertise and business lines of your company. Knowing the operating process and how to operate the production line will bring you great benefits, helping you determine the ability and performance of the company. Especially when unexpected circumstances occur, you can take on many different roles to handle all troubles for the company.
What is the CEO salary?
The CEO is also an employee of the organization. They devote their brains to the overall results of the business, so they deserve a salary of "huge".
Salary of CEO job ranging from 25 million VND to 135 million VND. And it can be up to hundreds of millions of dong (the highest level) depending on different industries.
They spend a lot of time on tasks. The pressures that CEOs face are 5-7 times that of an average employee. Therefore, compared to an ordinary employee, the CEO salary receives 20-30 times more.
CEO salary will be strongly correlated with company size, both in terms of revenue and number of employees they own. The larger the company and the more complex the organization, the higher the compensation for the CEO. Base salaries and bonuses also fluctuate considerably as the size of the company changes.
There are different types of private companies. The salary of CEOs of these different types also has many different points.
For example, private capital company: CEO has the highest salary, about 1.87 times higher than CEO of private enterprise. So we understood the salary What is a CEO?.
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What major to study to become a CEO?
When asked what industry to become What is a CEO? I'm sure people would say business administration. So why this industry and not another? Is this the only major that can make you a CEO?
Affirm that business administration is not the only field that makes you a CEO. Because what makes recruiters most interested in candidates is knowledge, experience and skills. Which major you graduate from is not a key factor in determining whether you can become a senior executive CEO or not.
When you study business administration, you will learn the necessary knowledge and skills in the fields of economy, culture and society to become an entrepreneur. managing director Professional CEO. You will understand the meaning and important role of business administration for the profit and development goals of the business.
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In addition to general and in-depth knowledge of economics and society, you will also learn in-depth knowledge of business principles and philosophies. As well as the operating principles and how to organize the personnel apparatus in the enterprise. Moreover, you will also learn how to plan, develop business strategies and find specific solutions to make your business grow and operate more efficiently.
Studying business administration will help you know how to self-study and update new knowledge and business trends in the market. From there, you can improve your professional knowledge and skills such as thinking, analysis and judgment to be the best CEO.
You study business administration also help you know how to position yourself properly. Assessing your own strengths and weaknesses is an important foundation that any CEO CEO every must have.
Top 10 CEOs in the world
According to research by experts, it takes an average of 24 years for a person to become a true CEO. This result is only calculated based on the self-effort of each individual in the working process. Here we will introduce the Top 10 CEOs in the world today.
Bill Gates - CEO of Microsoft
As of 2019 his total assets are 105.3 billion US dollars
Bill Gates Quote: “If you were born poor, it's not your fault. But if you die poor, it's your fault."
Mark Zuckerberg – CEO of Facebook
As of 2019 his total assets are 73.2 billion USD
Mark Zuckerberg Quote: “In a world that is changing so rapidly, the only route to failure is not taking risks.”
Jack Ma – CEO of Alibaba
As of 2019 his total assets are 22.8 billion USD
Jack Ma Quote: “They call me Crazy Jack. I think madness is a good thing. Because we're crazy, but we're not stupid."
Elon Musk – CEO of Tesla, SpaceX and Neuralink
As of 2019 his total assets are 22.8 billion USD
Elon Musk Quote: "If you wake up every morning and think that tomorrow will be a brighter day, that day will be a good day for you."
Sundar Pichai – CEO of Google
As of 2019 his total assets are nearly 1 billion US dollars
Sundar Pichai Quote: "One is happy not because everything in life is fine, one is happy because one's attitude towards everything in life is right."
Tim Cook - CEO of Apple
As of 2019, his total net worth is 1.5 billion USD
Tim Cook Quotes: “I admire Steve Jobs not because of the things he said or did, but because of his thoughts on life and work. The biggest lesson I learned from Steve Jobs was that life is like a journey, and every day is the last, and I have seen him live like that, like the last day of his life, every day.”
Jeff Beros – CEO of Amazon
As of 2019 his total assets are 114 billion US dollars
Jeff Bezos Quote: “If you build a great experience, your customers will tell each other about it. Word of mouth is something that spreads very quickly.”
Robert Iger – CEO Walt Disney
As of 2020 his total assets are 690 million USD (2020)
Robert Iger quote: “The heart and soul of the company is creativity and innovation.”
Aliko Dangote – CEO of Dangote Group
As of 2019 his total assets are 10.6 billion US dollars
Aliko Dangote Quotes: “Do your best to work as hard as you can to achieve a new goal with each passing day. Don't go to bed until you've achieved something useful."
Michael Dell – CEO Dell
As of 2019 his total net worth is 22.7 billion USD
Michael Dell Quote: “You don't have to be a genius or a visionary or a college graduate to be successful. You just have to have a foundation and have a dream.”
Ending
We hope that the detailed sharing above can help you understand clearly CEO what. Besides, you also understand the role and leadership qualities of a true CEO so that you can strive to become the best version in the future.
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