For many young people it is very attractive to be the CEO of a company. Some of the references are Elon Musk, Jeff Bezos, Tim Cook, Marissa Mayer or Meg Whitman although what a CEO should study, what are their tasks or when and how the process can be accelerated are some of the things you will find here.
What is a CEO?
He is the Chief Executive Officer, that is, a CEO, Executive Director or Executive Chairman. He is the person with the greatest authority and responsibility in a company, on whom administrative decisions fall and who, generally, receives the highest remuneration.
The CEO is in charge of the administration and management of the company.
What are the specific tasks of a CEO?
He is in charge of various tasks that require a high degree of commitment and responsibility to himself and to the culture of the company he represents. Depending on the composition of the company, that is, whether or not he has a president and whether he is active or not, his specific tasks may vary. Usually in large companies, the CEO is in charge of a complete work team and is usually supported by the Director of Finance and Marketing, in addition to any other figure that is necessary for the corporation.
Some of the specific functions that you will have to perform as CEO are:
– Plan and control
You must design a Business Plan, a roadmap for the company and monitor its correct compliance according to the defined strategies. In addition to making the decisions that are necessary in a timely manner.
– Organize and coordinate
It organizes, manages and coordinates the departments and the directors of each one of them to supervise their correct operation.
You must know how to motivate, direct and incentivize your staff, as well as retain talent. You have to know how to form a committed work group.
– Brand management
Learn about the culture of the company and how to enhance the corporate image. If you want your company to grow, you must manage your brand well.
– Help and support the financial department
You should look for investors for the company and pay attention to possible financial opportunities. You will also need to manage business assets.
You must maintain good relationships with other important companies in your sector.
What requirements do you need to be a CEO?
To be CEO, it is not enough just that you have a master’s degree in business administration and management, or to study an online master’s degree related to the position, but in addition to this undoubted professional training, you will also need a great education and certain leadership skills, without forget a high commitment to the company.
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To become CEO you need to meet 4 fundamental requirements:
Although history shows that you do not need to finish school to start a successful business, like Jobs, Zuckerberg or Gates, the path to the CEO position is much easier if you have a college degree. We will see it a little later in greater depth.
A degree is enough, but an MBA opens the doors for you to get closer to the desired position. The figures say that only 18% of CEOs own it. But this program is designed to improve business expectations and foster management and leadership skills.
It is not enough to have the best training, you will also need solid work experience. The majority of CEOs prior to that position worked as CEOs or in finance and operations related positions.
Financial and technical skills
These skills allow you to adapt to the environment. They give you the ability to tolerate trial and error and help you cope with the heavy hitters as you fight for the best profit for the company.
Other essential features
Some are the ability to prevent threats, find and take advantage of opportunities, innovate, know how to adapt to changes easily without giving up the business objective. You must know your customers and the ability to make complex decisions.
Note : You must also be creative, actively listen, make mistakes, have ambition, know how to network effectively, have leadership and communication skills, and be humble.
What should a CEO study?
The CEO is responsible for the strategic and political decisions of the company, so he must gain experience in other departments before becoming one.
To occupy such an important position, international experience is usually valued positively. There is no single university degree to access a position of this magnitude. Thus, the main careers would be law, engineering, business sciences, economics, administration and business management and, as has been pointed out, having an MBA master’s degree can be decisive.