What Do Chief Executives Do?
A chief executive has to formulate, determine and put in place policies in order to provide overall direction of companies and organizations. Many chief executives have to function within guidelines set up by a board of directors. They also have to plan, coordinate and direct operational undertakings at the highest level of administration with the help of lower executives and staff managers.This type of position is expected to see a 5% growth across the United States. That means that each year there will be approximately 8,780 new jobs.
Chief Executives Skills and Abilities
As a chief executive, you have to be able to:
- Understand administration, management, human resources, customer service, the English language and laws and legal codes.
- Make good decisions.
- Solve complex problems.
- Use critical thinking.
- Convey information effectively through speaking and writing.
- Coordinate the actions of yourself and others.
- Manage personnel resources through motivation, development and direction.
- Be socially aware of others’ reactions.
- Use deductive reasoning.
These skills are important because they help you run a company or organization successfully.
Chief Executives Duties
There are a lot of duties that a chief executive has to do in order to make sure that their company or organization runs smoothly. These duties include, but are not limited to:
- Directing and coordinating the budget in order to fund operations, increase efficiency and maximize investments.
- Assign department heads and managers and delegate responsibilities to them.
- Evaluate operations and performance of company and staff.
- Prepare budget for approval.
- Work with board members, organization officials and staff members to figure out issues, coordinate activities and resolve problems that arise.
- Put corrective plans into place to solve organizational or departmental problems.
- Preside or serve on boards and committees.
- Establish departmental responsibilities.
- Negotiate and approve contracts with suppliers, government agencies, distributors and other organizations.
- Deliver speeches, write articles and present information.
- Direct and possibly coordinate activities of the business such as buying and selling investment products.
- Organize promotional campaigns.
There are a myriad of duties that you would be tasked with as a chief executive. These are just a small sampling of what you would have to do.
Chief Executives Tools and Technology
Because you have so many duties as a chief executive, it is not surprising that there are also a number of tools and technology that you can use to make your job easier:
- USB Flash Drives
- Intuit QuickBooks or Other Accounting Software
- Lyris HQ Web-Analytics Solution or Other Analytic Software
- AdSense Tracker or Other Database Use Interface and Query Software
- Microsoft Dynamics AX or Other Enterprise Resource Planning (ERP) Software
- Halogen e360 or Other Human Resources Software
These tools and technologies ensure that you can do all of your duties efficiently.
Education and Training for Chief Executives
In order to be a chief executive, you have to have at least a Bachelor’s degree and five or more years of experience. You should take courses like:
- Business Administration and Management,
- Management Science,
- Public Administration and
- International Commerce.
These courses will help prepare you to be a successful chief executive.
Chief Executives Salary
Chief executives tend to make quite a bit of money. This is because they normally have lots of experience in the industry, and they are running a company or organization. The average chief executive in the United States makes about $173,300 annually. A chief executive in the lower 10% makes about $72,700 while one in the upper 10% would make about $187,200 or above.
Chief Executive Jobs by Geography
The availability and salary of a chief executive position varies based on location. For example, by population California, New York and Illinois have the highest number of chief executives. However, California, Colorado and Connecticut are home to the highest average salary of chief executives. Also, Colorado, Utah and Washington are expected to see the biggest rise in job availability. When you are looking at becoming a chief executive, you have to realize that it takes years of experience.