Chief Executive Officers are responsible for leading companies through good economic times as well as bad ones, and for working with other levels of management within a company to coordinate all activities including technological, financial and organizational. A CEO plays a big part in a company’s strategic planning no matter the size of the company. In a small business, a CEO’s main role is developing a business plan that clearly identifies the company’s mission and goals. They delegate management responsibilities to others regarding marketing strategies, accounting methods, technology and other areas.
In smaller businesses CEO’s also act as operations managers. In this role the CEO makes sure the company is turning a profit while producing products and services in an efficient manner. They also make sure these products and services are available to customers quickly enough to beat the competition. They keep a close eye on market trends and demands to ensure they stay ahead of other companies. When needed, they establish cost-cutting measures to utilize company resources efficiently.
Of all their responsibilities in a small business, possibly the CEO’s most important duty is to publicize and promote the company and its products or services. The more the buying public is made aware of a company or brand, the more likely profits will follow. Gaining new business is done by being part spokesperson and part goodwill ambassador when dealing with people. CEO’s often represent their company at conferences, stockholder and board meetings and corporate events. To the public, a Chief Executive Officer is the company. By doing television and radio interviews, webcasts and writing articles for trade journals and consumer magazines a CEO is able to generate positive publicity for the company.
Being a good communicator with the public and within the company are critical to a CEO being an effective leader. CEO’s must be able to communicate their vision to employees as well as information about economic or organizational changes that will impact the company. For example, if a company receives negative publicity or has questions regarding layoffs, CEO’s must be able to clearly and confidently communicate to employees whatever needs to be said. They may also announce new business deals as well as new products or services. By being able to convey the latest news and events to employees, a CEO is able to be a very strong leader who will command respect.
The role of a CEO varies within any business, big or small. However, a CEO who is able to demonstrate qualities of communication, leadership and experience will no doubt be able to bring high profits to a company.