WHAT IS A CHIEF EXECUTIVE OFFICER (CEO)?

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What do I need to study to become a Chief Executive Officer (CEO)?

Global Training Institute

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Chifley Business School at Torrens University

Looking to take the next step in your career? Look no further than the online Master of Business Administration (MBA) course from Chifley Business School!

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What is a Chief Executive Officer (CEO)?

The highest ranked executive in a company or organisation, the Chief Executive Officer (CEO) is responsible for major corporate decisions, driving the overall operation and trajectory of the business and functioning as the primary point of communication between corporate operations and the board of directors or other governing body.

Chief Executive Officers set the tone and vision of their company, devising, formulating and monitoring general policies, programs and the overarching direction of an organisation, within the framework set by a board of directors.

In smaller companies, the CEO often has more of a hands-on role, making many of the lower level, day-to-day business decisions like hiring staff, managing finance and liaising with clients, whereas in a larger organisation the Chief executive typically only handles the higher level aspects of strategy and overall growth, with most of the other tasks being carried out by managers and department heads.

What do Chief Executive Officers (CEO) do?

  • Providing vision, drive and top-level management for an organisation.
  • Setting company objectives and dictating strategies, policies and systems to achieve them.
  • Liaising with the board of directors and presenting forecasts, reports, plans and budgets.
  • Monitoring and assessing company performance against projections and objectives.
  • Reviewing reports and consulting with senior subordinates.
  • Approving authorisation and allocation of resources required to achieve organisational goals.
  • Representing the company or organisation at public events, in negotiations and at seminars and conventions.
  • Overseeing the selection of senior staff members.
  • Ensuring compliance with company policies and other relevant laws and legislations.

Career snapshot for Chief Executive Officer (CEO)

  • The average age of working Chief Executive Officers (CEO) is 50.
  • 77.90% of Chief Executive Officers (CEO) are male.
  • 86.90% of Chief Executive Officers (CEO) work full-time and on average they work around 48.3 hours per week.
  • With A Bachelor Degree or higher, Chief Executive Officers (CEO) get paid $2,572 per week Before Tax.
  • Unemployment levels are below average.
  • In 2015 records showed 58,900 employed Chief Executive Officers (CEO).
  • The projected growth of the profession is estimated to be strong with employment numbers around 67,700 by 2020.
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