All organizations have specific goals and objectives that they strive to meet. Top executives devise strategies and formulate policies to ensure that these objectives are met. Although they have a wide range of titles—such as chief executive officer, chief operating officer, board chair, president, vice president, school superintendent, county administrator, or tax commissioner—all formulate policies and direct the operations of businesses and corporations, public sector organizations, nonprofit institutions, and other organizations.
A corporation's goals and policies are established by the chief executive officer in collaboration with other top executives, who are overseen by a board of directors. In a large corporation, the chief executive officer meets frequently with subordinate executives to ensure that operations are conducted in accordance with these policies. The chief executive officer of a corporation retains overall accountability; however, a chief operating officer may be delegated several responsibilities, including the authority to oversee executives who direct the activities of various departments and implement the organization's policies on a day-to-day basis. In publicly held and nonprofit corporations, the board of directors ultimately is accountable for the success or failure of the enterprise, and the chief executive officer reports to the board.
In addition to being responsible for the operational success of a company, top executives also are increasingly being held accountable for the accuracy of their financial reporting, particularly among publicly traded companies. For example, recently enacted legislation contains provisions for corporate governance, internal control, and financial reporting.
The nature of the responsibilities of other high-level executives depends on the size of the organization. In small organizations, such as independent retail stores or small manufacturers, a partner, owner, or general manager often is responsible for purchasing, hiring, training, quality control, and day-to-day supervisory duties. In large organizations, the duties of executives are highly specialized. Some managers, for instance, are responsible for the overall performance of one aspect of the organization, such as manufacturing, marketing, sales, purchasing, finance, personnel, training, administrative services, computer and information systems, property management, transportation, or legal services. (Some of these and other management occupations are discussed elsewhere in this section of the Handbook.)
Chief financial officers direct the organization's financial goals, objectives, and budgets. They oversee the investment of funds and manage associated risks, supervise cash management activities, execute capital-raising strategies to support a firm's expansion, and deal with mergers and acquisitions.
Chief information officers are responsible for the overall technological direction of their organizations. They are increasingly involved in the strategic business plan of a firm as part of the executive team. To perform effectively, they also need knowledge of administrative procedures, such as budgeting, hiring, and supervision. These managers propose budgets for projects and programs and make decisions on staff training and equipment purchases. They hire and assign computer specialists, information technology workers, and support personnel to carry out specific parts of the projects. They supervise the work of these employees, review their output, and establish administrative procedures and policies. Chief information officers also provide organizations with the vision to master information technology as a competitive tool.
Chief executives have overall responsibility for the operation of their organizations. Working with executive staff, they set goals and arrange programs to attain these goals. Executives also appoint department heads, who manage the employees who carry out programs. Chief executives also oversee budgets and ensure that resources are used properly and that programs are carried out as planned.
Chief executive officers carry out a number of other important functions, such as meeting with staff and board members to determine the level of support for proposed programs. Chief executive officers in government often nominate citizens to boards and commissions, encourage business investment, and promote economic development in their communities. To do all of these varied tasks effectively, chief executives rely on a staff of highly skilled personnel. Executives who control small companies, however, often do this work by themselves.
General and operations managers plan, direct, or coordinate the operations of companies or public and private sector organizations. Their duties include formulating policies, managing daily operations, and planning the use of materials and human resources, but are too diverse and general in nature to be classified in any one area of management or administration, such as personnel, purchasing, or administrative services. In some organizations, the duties of general and operations managers may overlap the duties of chief executive officers.
Work environment. Top executives typically have spacious offices and numerous support staff. General managers in large firms or nonprofit organizations usually have comfortable offices close to those of the top executives to whom they report. Long hours, including evenings and weekends, are standard for most top executives and general managers, although their schedules may be flexible.
Substantial travel between international, national, regional, and local offices to monitor operations and meet with customers, staff, and other executives often is required of managers and executives. Many managers and executives also attend meetings and conferences sponsored by various associations. The conferences provide an opportunity to meet with prospective donors, customers, contractors, or government officials and allow managers and executives to keep abreast of technological and managerial innovations.
In large organizations, job transfers between local offices or subsidiaries are common for persons on the executive career track. Top executives are under intense pressure to succeed; depending on the organization, this may mean earning higher profits, providing better service, or attaining fundraising and charitable goals. Executives in charge of poorly performing organizations or departments usually find their jobs in jeopardy.
| 1. | Direct and coordinate activities of businesses or departments concerned with the production, pricing, sales, or distribution of products. |
| 2. | Manage staff, preparing work schedules and assigning specific duties. |
| 3. | Review financial statements, sales and activity reports, and other performance data to measure productivity and goal achievement and to determine areas needing cost reduction and program improvement. |
| 4. | Establish and implement departmental policies, goals, objectives, and procedures, conferring with board members, organization officials, and staff members as necessary. |
| 5. | Determine staffing requirements, and interview, hire and train new employees, or oversee those personnel processes. |
| 6. | Monitor businesses and agencies to ensure that they efficiently and effectively provide needed services while staying within budgetary limits. |
| 7. | Oversee activities directly related to making products or providing services. |
| 8. | Direct and coordinate organization's financial and budget activities to fund operations, maximize investments, and increase efficiency. |
| 9. | Determine goods and services to be sold, and set prices and credit terms, based on forecasts of customer demand. |
| 10. | Manage the movement of goods into and out of production facilities. |
| 11. | Locate, select, and procure merchandise for resale, representing management in purchase negotiations. |
| 12. | Perform sales floor work such as greeting and assisting customers, stocking shelves, and taking inventory. |
| 13. | Develop and implement product marketing strategies including advertising campaigns and sales promotions. |
| 14. | Plan and direct activities such as sales promotions, coordinating with other department heads as required. |
| 15. | Direct non-merchandising departments of businesses, such as advertising and purchasing. |
| 16. | Recommend locations for new facilities or oversee the remodeling of current facilities. |
| 17. | Plan store layouts, and design displays. |
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