It is increasingly common to read or hear the CEO of a company mentioned, even though many people are not clear about what a CEO is and what his or her functions are.
A CEO is the chief executive officer of a company who has major responsibilities, such as making major decisions and planning and directing business strategy to achieve objectives.
The CEO is the highest executive and operational authority of a company, above his position is only the president and the board of directors, serving as the CEO as a liaison or bridge between the management and the operational part of the company.
The five essential functions of a good CEO
We will now discuss five of the most important functions that a CEO performs in a company.
Controlling and monitoring that objectives are met
The CEO is responsible for planning and implementing the strategies needed to achieve the company’s objectives. In addition, his role is to control and supervise that the strategic plan is fulfilled as planned, always marked by the achievement of objectives. To be able to carry out this task, he must manage metrics and KPIs that facilitate the progress of the different objectives and make decision-making easier. In addition, it must rely on methodologies and tools that simplify the monitoring of the different types of tasks that are performed in the company (Gantt diagrams or Kanban boards, for example).
Organization and coordination of departments
A good CEO must organize and direct the directors of the different departments of his company, supervising their operation and setting the guidelines to follow according to the strategic plan.
In order to facilitate their work in coordinating the different departments and get involved in the corporate culture, the CEO must use tools that facilitate their work as the Redmine project manager. This platform stands out for its flexibility, being able to be configured for complete management with add-ons such as RedmineUP Full Plugins Bundle, which offer tools for management and control of Agile tasks, financial control, CRM and other functions that facilitate project management and teamwork of a CEO.
Fulfilling leadership roles
Leading and managing large teams is one of the main functions of a CEO. He or she must be prepared to motivate and advise his or her employees, providing an entrepreneurial and innovative vision. The members of the different working groups must see the CEO as a figure to turn to in case they need opinion or advice.
The CEO must have a great capacity for analysis in order to be more effective in decision making.
Facilitate and enhance communication
The communication function of the CEO is basic, both internally (with employees or with the shareholders’ meeting) and externally (with customers, suppliers or collaborators). The CEO is in charge of transmitting and making people understand what the mission of the company is and its objectives, to all the departments and personnel that form it.
Provide the necessary resources
The CEO is in charge of balancing the resources available in the company to be able to face the different projects. His work is closely linked to the finance and human resources directors in order to distribute the resources (economic and human) in the different areas of the company efficiently.
The CEO of a company is the executive director in charge of planning and leading all the members of the company to achieve the business objectives. It is a clearly operational position that serves as a link between the company’s management and the work teams.