Chief Executive Job Description

The chief executive officer (CEO) is a prominent position in any business. The CEO of the company is the pacemaker of the business, the one who sets the overall corporate objectives and creates a plan to meet those objectives. The CEO provides direction to the business by devising policies and strategies. He is also responsible for the coordination of all operational activities and supervision of subordinate managers from the highest level of the organizational hierarchy.

Characteristics

• An effective CEO has certain desirable characteristics. The first is strong leadership qualities. Great CEOs are excellent motivators and encourage employee participation. They are fair problem solvers who facilitate communication and seek feedback. CEOs should be optimistic and resourceful. They should be able to think of contingency plans quickly for unexpected situations and should never admit defeat. Foresight is another top quality in CEOs. The ability to predict market trends and customer reactions accurately can prove invaluable in business.

Function

• The functions of a CEO are many and complex. The primary role is that of a leader who gives direction to the business by developing a corporate strategy and recognizing organizational values. The CEO is also responsible for creating a suitable organizational structure, which supports the corporate strategy and facilitates coordination across units. She must also ensure implementation of and commitment to the crafted strategy through the creation of such systems as budgets and enterprise performance reviews.

Experience and Education

• Education requirements for the position of CEO vary between organizations. Generally, a master's degree in business administration or liberal arts is required. A degree in a more specialized discipline, like public administration, may be required for a CEO position in the public sector. The position of CEO requires years of experience. Normally, CEOs are internally recruited based on their experience and performance within the organization. External recruitment generally demands substantial managerial experience.

Salary

• The position of CEO is a top earner in the U.S. job market. Salaries, however, vary according to level of responsibilities, industry type, organization size and category. CEOs of large corporations in the private sector can earn more than $1 million annually. Salaries of public sector CEOs are considerably lower. Performance bonuses and stock options are additional features of a CEO's compensation package. Perks, such as access to the company aircraft and expense allowances, are also enjoyed by the private sector CEOs.

Job Outlook

• According to data from the Department of Labor, no changes are expected in the employment structure and opportunities of CEOs from 2008 through 2018. Employment changes will depend on the trends and life cycles of the industries in which the CEOs are operating. Growth in the health service industry, for instance, is expected to be reflected in the higher demand for CEOs in that industry. Prospects are good, especially for experienced CEOs who can easily transfer to other executive positions if the need arises.