Key roles of the CEO
Power your company’s growth by understanding all your roles as CEO, and performing them to the highest standard.
The ability of a company to outperform its competitors is directly related to the performance of its chief executive. But running a company today is much harder than it has been for decades. The leadership burden is getting heavier all the time as stress levels increase and the expectations from customers, employees, government and other stakeholders continue to rise.
As always, the CEO’s main purpose is to develop the company’s image, and plan and implement improvements to its financial and commercial performance through agreed strategies and policies. To achieve this goal, you must first ensure you avoid committing the seven deadly sins of a CEO:
- Managing not leading
- Poor delegation
- Lack of effective people policies
- No leadership of innovation
- Tolerating poor people performance
- Choosing abdication over navigation
- Lack of visibility
Instead, you must undertake a number of key CEO roles, as described below. To lead effectively in today’s world, you have to execute all these roles at a much higher level of performance than ever before.
- Formulate and introduce, in consultation with all teams, quality annual and long-term plans for development and operations of the business, including recommendations for growth, profit and return on investment.
- Recommend and implement approved strategies to deliver the plans.
- Participate in the development of the company’s mission, vision and values.
- Participate in line with agreed operating policies.
- Ensure effective relationships are maintained with all major stakeholders in the business: customers, shareholders, employees, suppliers, government, local community and the industry.
- Conduct regular research and development meetings with major customers to discuss their business goals and issues for the future.
- Assist the sales team in their efforts to generate new business from time to time.
- Develop partnerships, associations and alliances to further the company’s growth.
3. HR policy maker
- Establish and implement HR policies.
- Monitor industry, market and environmental trends; recommend and take appropriate action both to avoid the effect of adverse trends and to take advantage of change.
- Develop and introduce new products and services consistent with the company’s mission and designed to fulfil the anticipated needs of the customer.
- Build and sustain a motivated, committed and competent workforce throughout the company by:
- reviewing and assessing current skills and future skill needs to satisfy market demands
- constructing and implementing an annual training plan
- holding regular employee training and information sessions covering forecasting, finance, performance, customer service, the CEO/Managing Director’s role and team working.
- Manage the company’s balance sheet effectively by increasing the market value of the company.
- Actively seek opportunities for continued professional self-development through reading, networking and appropriate courses and seminars.
8. Company director
- Comply with a directory’s fiduciary duties to best serve the interests of the company and its shareholders.
- Ensure audited statements of accounts are produced and filed in accordance with statutory requirements.
- Ensure compliance with all relevant government legislation.
Next steps to excellence in the key CEO roles
For further guidance on meeting – and exceeding – the demands made of a business leader today, email us or call us on 020 7099 2621.