- Forget Bitcoin. It is time for Ripple now! - December 31, 2017
- Completing a successful transaction: Part 3 International Trade - April 11, 2017
- Negotiating And Planning To Win: Part 2 International Trade - April 5, 2017
- Launching A Profitable Transaction: Part 1 International Trade - March 28, 2017
Many CEOs struggle because they do not have a clear picture of what they should do in the job, the key responsibilities they should prioritise. It is dangerously easy to fall into a tactical routine, tackling each problem as it comes your way. But being reactive rather than proactive is not the path to building a great company. Instead, a successful CEO spends the majority of the time proactively fulfilling 5 key responsibilities. Let’s read further to see what are these are.
Own the vision
The CEO must be able to communicate the strategy, mission, and vision of the company to all constituents. He or she must also be able to communicate it at the appropriate levels to employees, customers and shareholders, and ensure everyone within the organisation knows the direction of the company and their own responsibilities. Other people may help to create the strategic vision, but the CEO must tell the story of that vision in a way that is engaging and exciting.
The CEO is responsible for determining resources needs and allocating these resources within the company. The 2 most important resources are capital and people. All executives have experience dealing with budget and allocating resources, but the CEO job requires balancing resources between departments and initiatives that are not necessarily comparable in terms of their impact towards the company goals. The CEO must be able to understand all aspects of the business for him/her to make a good decision.
Build the culture
Culture is about how things get done in the company, and it influences the employee experience and therefore the customer experience. In my opinion, the most critical word in the definition of culture is values. It is the job of a CEO to ensure that a company’s values are applied consistently from top to bottom, across all departments. No one can be exempt from it.
Make Good Decisions
It is impossible for anyone to be an expert in all aspects of a business. However, the one thing the CEO is responsible for is making a decision. If you don’t like making decisions, then don’t take a CEO job. Many problems require a solution that impacts multiple departments and only the CEO can make decisions across the organisation.
The CEO must take an active role in driving performance. He has to be in touch enough with the core business functions to ensure proper execution. He is the interface between internal operations and external stakeholders, which means that he has to ascertain the expectations for performance from different stakeholders, interpret those expectations for internal teams, and then refine metrics that reflect the true performance of the business.
Power up your networking and get the connections you need today! Click Here to find out how you can be a part of our Alp Entrepreneurial Club!