For any major company to run like a well-oiled machine, it is important to have a good Chief Executive Officer or CEO. They basically are the highest-ranking individual in any company or organization. According to Ram V Chary, these individuals are majorly responsible for the overall success of the organization, and play a key role in making top-level managerial decisions. While they might ask for inputs from others on the managerial team for major decisions, the CEOs are the ultimate authority in making final decisions in an organization. Mr. Chary himself has been the president and CEO of Multimedia Games Holding Company, Inc.
A good leader is important for any organization to ensure its optimal success. The CEO basically acts as the leader of the company, and is responsible for driving it towards growth and progress. As per Ram V Chary, apart from the overall success of a company, a CEO shall also be responsible for managing the development and execution of long-term strategies of a firm, with the aim of shareholder value.
The particular roles and responsibilities of a CEO often differ from one company to another, usually on the basis of their size and organizational structure. The CEO tends to take a more “hands-on role” in the case of a small and medium-scale enterprise, and is often involved in making lower-level business decisions. However, when it comes to large scale corporate, the CEO generally just deals with major company decisions and high-level corporate strategy development. Various other tasks are delegated to managers or departments in large companies.
Here are a few of the key duties CEOs are typically required to perform, as underlined by Ram V Chary:
- Plan, develop, and implement the operational and fiscal functions of the company.
- Develop and implement the various crucial plans and programs of the company by acting as a strategic partner.
- Make recommendations and analysis on the impact of diverse long-range planning and growth initiatives, while taking care of the introduction of new regulatory actions and strategies.
- Provide accurate analysis of the budget and financial trends to the shareholders in order to develop credibility and authority for the finance leadership team of the firm.
- Help in creating, improving, and enforcing various policies and procedures of the organization that would augment its operational and financial effectiveness.
- Communicate competently, as well as established credibility throughout the firm and also with the Board of Directors, as an effective developer of solutions to discerning business challenges.
As per Ram V Chary to perform all their duties perfectly, it is vital for the CEOs to have strong leadership ability, strategic mindset, professional business acumen, as well as excellent problem-solving skills. Mr. Chary has been a part of the corporate world for quite some time now, and hence is adequately aware of the important facets of the job roles of a CEO, and the skills needed to be competent in them.