The functions and responsibilities of a Chief Executive Officer include Planning, Organising, Staffing, Coordinating, Controlling, Directing, Reporting and Budgeting. In this article, you will learn all these and more.<\/p>\n
The Chief Executive has fundamental roles in his day-to-day functioning to make the organization grow to an enviable position. He is to create an enabling environment for employees to work through the principle of motivation and considering staffs welfare. He is in charge of the day to day running of an organization and he is also at the apex of the organization.<\/p>\n
The Chief Executive Officer is responsible for leading the development and execution of the Company’s long-term strategy with a view to creating shareholder value\u2026 The CEO acts as a direct liaison between the Board and management of the Company and communicates to the Board on behalf of management.<\/p>\n
Principally, The Chief Executive of an organization perform the following functions:<\/p>\n
Planning according to STONER (1982)<\/strong> is the process of selecting our goals and determine how to achieve them. KOONTZ ET AL (1980)<\/strong> noted that it is the selecting from among alternatives, future courses of action for the enterprise as a whole and for every department or section within it. ROBBINS (1988),<\/strong> defined planning as encompasses defining the organizations’ objectives or goals, establishing an overall strategy for achieving these goals and developing a comprehensive hierarchy of plans integrate and coordinate activities.<\/p>\n Planning is also the process of thinking about and organizing the activities required to achieve a desired goal. It involves the creation and maintenance of a plan, such as psychological aspects that require conceptual skills.<\/p>\n Future uncertainty and change make planning a necessity. With planning, uncertainty is reduced by anticipating change, even when due to certain conditions the future seems certain, managers have to plan in order to select the best among alternatives.<\/p>\n Planning brings a higher degree of direction to the organization as employees know what to do and at what time to carry out their specific tasks.<\/p>\n This is a fact that planning is directed at achieving the enterprise objectives. The major act of planning is to focus on the organizations’ objectives.<\/p>\n Planning minimizes costs of operation, therefore, it emphasizes efficiency by reducing waste and redundancy.<\/p>\n This is a situation whereby the objectives serve as a measure of comparison when the goods or products are eventually details. Deviations are noted and corrected.<\/p>\n Example Of Organizational Objectives Includes:<\/strong><\/p>\n In formulating objectives, Robins (1988),<\/strong> believes two major approaches matter<\/p>\n This stresses the establishment through the participation of objectives that are actionable, clear, verifiable and measurable. Its emphasis lays on the converting overall organizational objectives for organizational units individual members. Management by objective uses goals to motivated instead of single goals to control.<\/p>\n S<\/strong>—– It should be Specific<\/p>\n M<\/strong>—- It should be Measurable<\/p>\n A<\/strong>—– It should be Attainable<\/p>\n R<\/strong>—– It should be Realistic<\/p>\n T<\/strong>—– It should be Time Bound<\/p>\n COLE (1982)<\/strong> defines organizing as the means by which we arrive at our chosen destination. Cole sees organizing as a process for determining, grouping, structuring activities devising and allocating roles arising for results to both groups and individuals and determining detailed rules and system of working, including those for communication, decision-making, and conflict resolution. DALE (1967)<\/strong> as cited in stoner (1982) defines organizing as a multi-step process detailing all the work that must be done to attain the organizations’ goals.<\/p>\n This is the managerial function of responsible for the employment of suitable personnel to occupy vacant organizational positions as well as including them to stay long enough for the organization to reap the benefits of their training and experience.<\/p>\n Coordinating means harmonious interaction (kemper). It involves the reunification of the various divisions to form an integrated whole.<\/p>\n Fayol<\/strong> defined coordination as a harmonizing process, pulling the various parts of the corporation together.<\/p>\n Robins defines Controlling as the process of monitoring activities to ensure they are being accomplished as planned and of correcting any significant deviations.<\/p>\n This is a managerial action that shows subordinates how and when to do things. Directing function prevents employees from being confused at organizational policies and ensures that employee will perform activities that will bring about organization achieving her set objectives.<\/p>\n This is the ability of the management team to communicate decisions to subordinates effectively well and to take such information to the board.<\/p>\n This is management’s ability to allocate to any decision taken amount to be expended within a particular accounting year.<\/p>\n Mintzberg has studied the roles of the administrators and managers. He published his book, The Nature of Managerial Work, 1973. It is the result of the empirical research into how administrators and managers do their work.<\/p>\n Mintzberg identified (3) three group of roles which administrators and managers must play. The roles will be discussed in my next article, ROLES OF A MANAGER.<\/a><\/p>","protected":false},"excerpt":{"rendered":" De functies en verantwoordelijkheden van een Chief Executive Officer omvatten planning, organisatie, personeel, co\u00f6rdinatie, controle, leiding, rapportage en budgettering. In dit artikel leer je al deze en nog veel meer. De ...<\/p>\nImportance of Planning<\/h4>\n
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Traditional Approach<\/h4>\n
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Management by Objectives<\/h4>\n
Characteristics of a Good Objective<\/h4>\n
Reasons For Ineffective Planning<\/h4>\n
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Factors That Limits Planning<\/h4>\n
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How To Make Planning Effective.<\/h4>\n
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ORGANIZING<\/h2>\n
Importance Of Organizing<\/h3>\n
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STAFFING<\/h2>\n
COORDINATING<\/h2>\n
The Need For Coordination<\/h2>\n
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Problems of Achieving Effective Coordination<\/h2>\n
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CONTROLLING<\/h2>\n
Importance of Control<\/h2>\n
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Types of Control<\/h2>\n
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Directing<\/h2>\n
Reporting<\/h2>\n
Budgettering<\/h2>\n