Chief Executive Officer Roles and Their Effects on Large Corporations

2009 Words 9 Pages
Chief Executive Officer Roles and Their Effects on Large Corporations
The Chief Executive Officer is responsible for the success or failure of the company. They are responsible for the operations, marketing, strategy, financing, and the creation of company culture, human resources, hiring, firing, and compliance with safety regulations, sales, etc.This all falls on the CEO’s shoulders.
The CEO’s main function is to set a strategy, vision and values for the company. The senior management team can help develop this strategy. The CEO ultimately sets the direction the company needs to move forward with, the markets they need to get involve in and the strategy of how to get involved in the business.
The other function of the CEO is to
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The profitability is the key. The mission statement must be bold and improve the quality of life locally, nationally and internationally. The effective mission statement gives people a sense of direction to profitability and the inspiration to feel they are part of the bigger part of the goals of the business. Effective mission statements balance the possible and the impossible (Welch, 2005, p.15). Setting the mission statement is top managements responsibility to set the goals of the company every year. The mission statement represents the enduring character, values, and purpose of the organization in the present work place. CEO Strategy
The strategy of the company follows the mission and vision statement and is an assessment of the internal and external environment. A strategist can then select appropriate strategies or plans of action for his or her organization (Achua & Lussier 2010, p. 427). The strategies of companies include such actions as diversification, joint ventures, mergers, and acquisitions, new product development, and entering new markets.\ Today’s increasing competitive pressures require leaders to continuously seek opportunities for new strategies, to be aware of what reactions such strategies will incite from competitors, and to be prepared to defend their own interests when
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