Full Form of CEO
Full Form of CEO
CEO is the most desirable and powerful position longed by every individual. But most of our youngsters and even adults are not aware of its full form.
The abbreviation CEO stands for Chief Executives Officers.
This tutorial will briefly discuss about the definition, objectives, roles, responsibilities and other detailed information about the Chief Executive Officer or CEO.
What is the definition of CEO?
“Chief Executive Officer or CEO is the highest-ranking executive or administrator who works alongside other top officers to establish a corporation’s policies and is responsible for corporate vision, decision-making and overall company operations.”
CEO is the most senior officer or managing administrator involved in driving the company as a whole. The CEO of the company only reports to the Board of Directors or the chairman of the organization. The CEO is accountable for planning reforms, practicing different policies and strengthening, motivating and inspiring its employees.
To become a CEO, one needs to possess a deal of work ethic, great business acumen, managing experience, and awareness about business networking. The CEOs working for nonprofit and government sectors typically endeavor to accomplish results associated with the public purpose, such as poverty reduction, increased literacy, etc. However, there is not definite educational eligibility to become a CEO of a company. It is the top office of an organization and is directly appointed by the board of directors. But mostly all the CEO’s are either MBA or have a technical degree.
Key responsibilities of CEO
The CEO is the public face of any organization and is the highest point of communication between the board of directors and business operations. The various roles and responsibilities of the CEO are as follows:
- A CEO executes and takes all vital business decisions.
- A CEO maintains a well-built working and operating environment in the company.
- A CEO encourages, motivates and inspires the employees to perform well and give the company the best output.
- A CEO is accountable for making reforms in policy, tactics and creates new business strategies.
- A CEO leads and looks after all the ongoing business activities.
- A CEO is responsible for assigning the tasks and duties to its sub officers.
- A CEO assists with hiring new members of the Company Council.
- A CEO assures the products or services of the company are in line with the vision and mission of the business.
- A CEO is responsible for suggesting the annual budget of an organization and prudently leads the company's resources.
Frequently Asked Questions/ FAQ’s
Question 1: What is the difference between Chairmen and CEOs?
Answer: A chairman is a businessperson elected by an organization's board of directors who leads over board meetings and operates to organize consensus in board decisions whereas a CEO works alongside other top officers to establish a corporation’s policies and is responsible for corporate vision.
Question 2: What is meant by an Interim CEO?
Answer: An interim CEO is an executive appointed by the board of directors of an organization to understand the chief executive officer's responsibilities and duties for a certain time of transition.