CEO - what does it mean? The importance of the role within the company

Nowadays, most corporations are international. For this reason, English job titles and abbreviations derived from them are often used. For example, the chief operating officer of a company is referred to as COO, the chief financial officer is CFO and KAM is the key account manager. The English equivalent of CEO, on the other hand, is CEO. Let's find out what he or she does and what role he or she plays in the company.

CEO - who is it? Definition

The introduction of English naming is not an invention, but a real need for modern companies. More and more Polish companies are entering into long-term cooperation with foreign contractors. In order to maintain clear communication, it is important to systematise the naming of individual positions, especially among managers. Of course, such naming is natural for foreign companies opening branches in our country. It is worth noting that this trend is reflected worldwide.

It is time to consider what CEO means. As already mentioned, this term is used to describe the CEO. CEO stands for Chief Executive Officer. In Polish, terms such as dyrektor generalny or dyrektor zarządzający may be used interchangeably.

In other words, it is the most important person in the company, to whom ultimate executive authority belongs and who has the power to make the most important decisions. The directors who manage the various departments report to her.

It is not uncommon for the position of CEO to belong to the owner himself, although this situation is more common in smaller companies. In large corporations, the CEO position is filled through competition or promotion.

CEO's responsibilities within the company

The position of CEO entails a multitude of tasks. The CEO coordinates the work of the management and undertakes strategic human capital management activities. He represents the company in its dealings with key customers and conducts business negotiations.

He or she is responsible for creating long-, medium- and short-term plans and oversees operations in areas such as marketing, sales, finance and investments. The CEO is also responsible for the creation of the company's vision and mission, as well as periodically checking the feasibility of current and any other objectives.

Importance and earnings of the CEO in the company

A CEO usually becomes a person with a university degree and many years of experience as a manager or director. The CEO should have specific skills in economics, finance, strategic management, marketing or sales.

It is difficult to estimate earnings for a CEO position. Many factors such as qualifications, seniority, company size, industry etc. influence the salary. However, it is clear that a supervisor in such a responsible and demanding role is well above the national average.