The common understanding of the acronym CEO is Chief Executive Officer, a weighty sounding title which inspires visions of personal jets and private washrooms. The daily reality though, for a CEO of a small growing business is very different. There is very little glamour associated with being the CEO of a start-up business. Instead, it's more often than not, the Chief Everything Officer for the company. I argue that the acronym for the startup CEO requires a more expansive definition. To achieve that, I've aimed here to capture what other definitions for the role I have found that most CEOs of small companies need to possess. Alternative Definitions of What the title of "CEO" stands for: Chief Excitement Officer: As the Chief Excitement Officer of your growing company, your job is to create your corporate vision, both externally and internally, and then to lead your organization around this vision with excitement and passion every day. Excitement in your company starts with you, and if you do it right, it is then carried forward by others. Excitement by your team for your vision and the goals and measures of this vision should be what gets them out of bed in the morning, what keeps them at their desks past 5pm, and what keeps them loyal to your organization over time and during times of stress. Being the Chief Excitement Officer of your organization is one of the best things you can do to enhance productivity. If you lack the excitement of your vision, the rest of the organization will float aimlessly like a sailboat on a windless day. Chief Execution Officer: Business Strategist Peter Drucker once wisely said, "Plans are only good intentions unless they immediately degenerate into hard work." As the Chief Execution Officer of your company, it is always your job to be the leader of turning the vision of where you want to be into the actions, organizational coordination, and ultimately the results that drive your growth. It's hard work, it's grinding work, and it will require you to build a team to help you to get it done. Make no mistake, combined with your role as the Chief Excitement Officer, it is the most important role you have in the company. One of my favorite quotes from Jack Welsh says it all, "Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion." Be that kind of leader through your devotion to taking the role of Chief Execution Officer for your company, every day. Chief Empowerment Officer: As the Chief Empowerment Officer of your company, it is often your job to be the head of Human Resources, and, more specifically, Human Resource Empowerment. Said another way, it is your job to make sure that the team is recognized for their talents, listened to for their thoughts around your company and your market, and acknowledged for what they need to rise to your challenges. It is then your job to be the head of removing obstacles in their path so they can get to their greatness. No one else in the company can better influence the path to your team's empowerment. It's your privilege as the head of the company to be the proxy head of personal empowerment, it is also your responsibility to act on this privilege. Chief Excellence Officer: Defining excellence in your company is really about determining goals and objectives across the company and leading the process (versus owning the process). Where the result is that very executive, manager, rank-and-file employee knows what "excellence" looks like for them and how their goals and objectives roll up to the greater set of what defines the company. This is what being the Chief Excellence Officer means. As motivational speaker, Tony Robbins once said "Setting goals is the first step in turning the invisible into the visible." As the Chief Excellence Officer of your company, you are the leader of the goal-setting process. Everyone will take their excellence achieving focus from you. Chief Excruciating Officer: There will be times in all businesses where pain needs to be felt. For startups, it is often due to missed targets, missed deadlines for releases, or failed product launches. The results of these challenges are often painful decisions like: cutting back on expenses, cutting back on people, or asking staff to work harder and longer to meet a release deadline. As the Chief Excruciating Officer of your company, it is your job to share the pain of the company in a way that is obvious to everyone. If your development team is working evenings and weekends to meet a deadline and you are running off to your tennis game at 4pm or posting vacation pictures on Facebook, it won't be long before they are polishing up their resumes. Why should they suffer to hit goals but you don't? If you have to make expense cutbacks, then you have to lead the process of frugality in some obvious way for everyone. And if a key hire of yours needs to be let go, it should ALWAYS be you who does it. Quoting Game of Thrones' Ned Stark, "The man who passes the sentence should swing the sword."Misery happens from time to time in all growing organizations, it's unfortunate but inevitable. And if there is one thing that misery loves, it is company - specifically, your company as the Chief Excruciating Officer. There are a lot of different roles a CEO has to play in order to grow a successful business. It's going to hurt, exhaust, and even break your heart at times, but knowing that your job is so much more than "the boss", more than the number cruncher, or, simply, the face of the company is going to help you, your staff, and your business get there. You're a general, a cheerleader, a teammate, a shining gold star sticker, a thinker and a doer all wrapped into one. So go forth, redefined CEO!
Abbreviation ceoFound 25 abbreviations in 1 groups Abbreviations similar to ceo
A chief executive officer (CEO) is the highest-ranking executive in a company. Broadly speaking, a chief executive officer’s primary responsibilities include making major corporate decisions, managing the overall operations and resources of a company, acting as the main point of communication between the board of directors and corporate operations. In many cases, the chief executive officer serves as the public face of the company. The CEO is elected by the board and its shareholders. They report to the chair and the board, who are appointed by shareholders.
A CEO's role varies from one company to another depending on the company's size, culture, and corporate structure. In large corporations, CEOs typically deal only with very high-level strategic decisions and those that direct the company's overall growth. For example, CEOs may work on strategy, organization, and culture. Specifically, they may look at how capital is allocated across the firm, or how to build teams to succeed. In smaller companies, CEOs often are more hands-on and involved with day-to-day functions. One study from Harvard Business review analyzed how CEOs spend their time. They found that 72% of CEOs' time was spent in meetings versus 28% alone. Moreover, 25% was spent on relationships, 25% on business unit review and functional reviews, 21% on strategy, and 16% on culture and organization. Some food for thought: the study showed that just 1% of time was spent on crisis management and 3% was allocated to customer relations. Not only that, CEOs can set the tone, vision, and sometimes the culture of their organizations. On average, CEOs of the 350 largest companies in the U.S. have earned $24 million in annual salaries. To look at it another way, that's 351 times the salary of a worker. Since the 1970s, CEO pay is estimated to have skyrocketed over 1,300%. By contrast, worker compensation has grown 18%. Because of their frequent dealings with the public, sometimes the chief executive officers of large corporations achieve fame. As of Feb. 9, 2022, Elon Musk, founder of Tesla (TSLA) has over 73 million followers on Twitter. Similarly, Steve Jobs, founder and CEO of Apple (AAPL), became such a global icon that following his death in 2011, an explosion of both cinematic and documentary films about him emerged. Corporate America houses numerous titles of senior executives that begin with the letter C, for "chief." This group of top senior staffers has come to be called C-suite, or C-level in the corporate vernacular. It's worth noting that for small organizations or those that are still in the startup or growth phases, for example, the CEO may also be serving as the CFO and the chief operating officer (COO), and so on. This can lead to a lack of clarity, not to mention an overworked executive. Assigning multiple titles to a single executive-level individual can wreak havoc on a business's continuity and ultimately may affect its long-term profitability negatively. In short, when it comes to executive-level positions within an organization, assigned titles and the functions associated with each can become muddled quickly. The CEO directs the operational aspects of a company. Comparatively, the board of directors—led by the chair of the board (COB)—oversees the company as a whole. While the chair of the board does not have the power to overrule the board, the board has the power to overrule the CEO's decisions. Effectively, the chair is considered a peer with the other board members. In some cases, the CEO and the chair of the board can be the same person, but many companies split these roles between two people. The CFO is the chief financial officer of a company. While CEOs manage general operations, CFOs focus specifically on financial matters. A CFO analyzes a company's financial strengths and makes recommendations to improve financial weaknesses. The CFO also tracks cash flow and oversees a company's financial planning, such as investments and capital structures. Like CEOs, the CFO seeks to deliver returns to shareholders through focusing on financial discipline and driving margin and revenue growth.
Often, the chief operating officer (COO) is ranked second highest after the CEO. As the head of human resources, their responsibilities fall on recruitment, legal, payroll, and training along with administrative duties. There are many other leadership titles, some of which may or may not overlap with a CEO. Other common titles include:
A Chief Executive Officer's roles and responsibilities will vastly vary between companies, industries, and organization sizes. In general, a CEO may be expected to take on the following tasks:
During CEO transitions, markets can respond either positively or negatively to the change in company leadership. That makes sense, as studies show that CEOs may have a large impact on a company's performance. For instance, one study found that 45% of company performance is influenced by the CEO. But on the flip side, another shows that CEOs affect just 15% of variance in profitability. When a new CEO takes over a company, the price of its stock could change for any number of reasons. However, there is no positive correlation between a stock's performance and the announcement of a new CEO, per se. However, a change in CEO generally carries more downside risk than upside, particularly when it has not been planned. A stock's price could swing up or down based on the market's perception of the new CEO's ability to lead the company, for example. Other factors to consider when investing in a stock that's undergoing a management change include the incoming CEO's agenda; whether there might be a shift in corporate strategy for the worse; and how well the company's C-suite is managing the transition phase. Investors tend to be more comfortable with new CEOs who are already familiar with the dynamics of the company's industry, and the specific challenges that the company may be facing. Typically, investors will assess a new CEO’s track record for creating shareholder value. A CEO's reputation could be reflected in areas like an ability to grow market share, reduce costs, or expand into new markets.
CEOs are responsible for managing a company's overall operations. This may include delegating and directing agendas, driving profitability, managing company organizational structure, strategy, and communicating with the board.
It depends. In some cases, CEOs are the owners of a company. In others, CEOs are elected by the board of directors.
CEO is the highest position to occupy in a company. The CFO, who is responsible for the financial discipline of a company along with identifying the strengths and weaknesses of a company, ultimately reports to the CEO.
A CEO often reports to a board of directors. The board oversees the performance of the CEO and can elect to remove or replace the CEO if they feel the executive's performance isn't producing the results they want to see. |