What's it like to be a Chief Executive Officer?
A Chief Executive Officer (Tumu Matua), or CEO, is the managing director of a company and makes big decisions about how a company runs. Chief Executive Officers will usually work with a skilled and experienced management team and other executives, but ultimately, they are responsible for the final decision. Organisations and companies in a wide range of industries need Chief Executive Officers so the day-to-day experience of the job will differ. In general, Chief Executive Officers will need management skills, including financial, communication and inter-personal skills.
Tasks and duties
- Communicating, on behalf of the company, with shareholders, government entities, the public and the media.
- Creating and implementing the company’s vision and mission.
- Developing and implementing business and strategic plans and budgets.
- Evaluating the work of other executive leaders within the company.
- Maintaining awareness of the competitive market landscape, expansion opportunities and industry developments.
- Assessing risks to the company and ensuring they are monitored and minimised.
- Reporting through to the Board of Directors with accurate and timely information regarding the organisation’s overall performance, including financials, risk ratings, compliance and growth prospects.
How to become a Chief Executive Officer
Chief Executive Officers usually have years of managerial experience in the relevant industry.
Complete a three-year bachelor degree in a relevant field, such as business.
Consider completing a relevant postgraduate qualification to enhance your managerial knowledge and skills, such as a Master of Business Administration (MBA). Advanced qualifications can help prepare you for work in the private or public sector.
Gain several years of work experience and work your way up through a company or industry. Chief Executive Officer is a senior management role so you will need to gain extensive experience.