Act on the budget : The CEO is responsible for preparing the company's budget and presenting it to the assembly at the end of the year. This is the annual report relating to general income and expenses, a very important document because it gives an overview of the company's performance. From this data it is possible to establish different strategies for the future, as well as the possible distribution of profits.
As we have seen, the CEO has multiple responsibilities and must cover various functions. He is called upon to respond in the event of corporate crises, legal proceedings and may also incur various risks due to his legal responsibilities towards the company. In fact, the CEO has signature power , that is, he has the final say in allowing any company action: purchases, sales, acquisitions, etc.
It is clear then that the CEO's skills must be very versatile and broad . They range from essential leadership and team management skills to a high level of problem solving and market anticipation. He or she must be able to introduce high levels of innovation, as well as have good legal training.
What to study to become a CEO?
These are the so-called soft skills that a CEO needs. From a cambodia whatsapp data technical point of view, however, in order to be able to perform this role, a solid background in business administration and top-level management skills are needed , preferably combined with a deep knowledge and experience of the sector in which the company for which he works operates. Although this last point is not so essential: there are many cases of CEOs who have led companies that operated in very different sectors.
Therefore, in addition to experience in the field, this figure usually takes training courses linked to the business world and almost always has an MBA , such as an Executive MBA or a Global MBA , which guarantees solid preparation and an international vision, applicable to multiple sectors.
Depending on the type of company, and whether the CEO is an owner, shareholder or appointed by the board of directors, he or she may earn a fixed salary, or a portion of the business's revenues. Remuneration is decided by the shareholders' meeting before the CEO is appointed, but CEO salaries are often very high , reaching several million euros, as evidenced by the net worth of CEOs of companies such as Facebook, Apple and Amazon.