What is a CEO? Skills to become a good CEO
CEO is a term often mentioned in the organizational chart of businesses. So what is a CEO ? What skills are needed to become a good CEO? Join 1C Vietnam to learn more in the article below!
1. What is a CEO?
CEO is the abbreviation for Chief Executive Officer, which means Chief Executive Officer - the head of the highest level of management in an organization or business. The CEO's responsibility is to make strategic decisions and plan to shape the operations of the business. The director will usually be responsible for supervising all operations and personnel of the business, and is also the representative image of the organization. An overseas study has shown that 45% of a business's performance can depend on the CEO's ability.
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2. What jobs does a CEO do?
After understanding what the definition of CEO is and knowing the role of this position in the organization, readers can surely imagine the job of a CEO. Below are some specific tasks that CEOs need to do during business operations:
- Develop strategies to implement the company's vision and mission.
- Make specific plans and directions for business activities.
- Direct the implementation and implementation of approved business plans.
- Responsible for company profits and growth.
- Provide suggestions and plans to improve business operations.
- Manage, build and develop brands.
- Establish and maintain organizational culture.
- Appraisal and approval of investment projects.
- Representing the company in signing commercial contracts.
- Manage and evaluate the company's business activities.
- Approve product development projects and marketing strategies.
- Organize and manage the enterprise's human resources apparatus.
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3. Skills to become a good CEO
Any position in a business requires specific skills to meet specialized operations. For an important position like CEO, the following skills are usually needed:
- Graduated with a Master's degree or higher in Business Administration or equivalent fields.
- Have previous experience as a CEO or hold senior management positions.
- Proficient in developing business strategies and capable of practical implementation.
- Has diverse experience in fields such as Marketing, Finance, Public Relations, Human Resources Management, and many other fields.
- Deep understanding of the market and customer needs.
- Possesses a sharp business mindset along with excellent organizational and leadership skills.
- Understanding of business management rules.
- Have analytical and problem-solving skills.
- Good communication skills and able to speak in front of crowds.
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4. CEO's income level
The CEO is one of the highest positions in the organization, so the CEO salary is also much higher than the employee level. Depending on each business and field of activity, this number will have certain differences. According to Vietnamnet, the highest CEO salary today can be up to 40,000 USD/month. Among them, the 3 highest sectors include:
- In the banking and financial services sector, the salary of CEOs with more than 15 years of experience usually ranges from 15,000 to 35,000 USD/month in the South and a maximum of 40,000 USD/month in the North.
- In the life insurance industry, the salary of CEOs with more than 15 years of experience usually ranges from 7,000 to 40,000 USD/month.
- In the real estate sector, CEOs with more than 15 years of experience often receive salaries from 8,000 to 40,000 USD/month in the North and as high as 30,000 USD/month in the South.
Thus, the above article explains what a CEO is and the tasks and responsibilities that this position will undertake in the organization. Hopefully this article has brought useful knowledge to those who want to strive to achieve this position. If you have any related questions, please contact 1C Vietnam for support.
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