A career in top executives is one of the best job options. Every organization has specific objectives and goals, which they endeavor to meet. Top executives are responsible for creating strategies and devising policies to make sure that these objectives are met.
A top executive is also termed as chief operating officer, chief executive officer, vice president, president, board chair, school superintendent, tax commissioner or county administrator. The top executives involve in various management activities like public sector organizations, corporations, non-profit organizations, businesses and other organizations.
Job Prospects
In association with other chief executives, a top executive establishes the policies and goals of an organization. A board of directors supervises these policies and goals. In a large firm, the top executive often interacts with other executives to ensure that the executions are conducted compliant with these policies.
A top executive officer of a firm maintains overall accountability and carries many responsibilities comprising of the authority to supervise executives who manages activities of many departments and employ the firm's policies on everyday basis. In many large firms and non-profit corporations, the board of directors is eventually responsible for the failure and success of an enterprise. The top executive officers have to reports to the board.
A top executive is ultimately responsible for the success and failure of an organization. These executives are also responsible for the accuracy of financial reporting, especially, among publicly traded companies. For instance, lately passed legislation comprises of provisions for internal control, corporate governance, financial reporting, etc.
Responsibilities
The responsibilities of top executives vary depending upon the size and nature of the work of an organization. In small organizations, small manufacturer, independent retail stores, owner, partners or general manager is accountable for hiring, purchasing, quality control, training and other managerial duties.
In large organizations, the responsibilities of top executives are greatly specialized. Some top executives are accountable for the overall performance of an organization including:
Top financial executives supervise the financial goals, objectives and budgets of an organization. They administer the associated risks, manage the investment of funds, and execute capital-raising approaches to maintain expansion of firms, oversee cash management activities, and deal with acquisition and mergers.
Top information executives are accountable for the entire technological direction of an organization. These executives sketch and prepare a strategic business plan of a firm. A top executive should have sound knowledge of administrative procedures such as hiring, budgeting, supervision, etc. These managers prepare budgets and for projects, organize program, make decisions, arrogance training sessions, purchase equipments, etc.
These managers employ and assign computer specialists, information technology experts, and support personnel to execute various parts of a project. Top executive mangers examine the work of these employees, assess their output and establish administrative policies and procedures. Top executives/chief information officers provide organization information technology with the view of developing products and services.
A chief executive officer carries entire responsibility for the operation of an organization. Chief executive officers set objectives and goals. They organize various workshops, seminars and other programs to attain these goals. They appoint department heads who supervise employees and execute programmes. A chief executive administers the budgets and makes sure that all resources are used appropriately. The responsibility of a chief executive is to carry out programs as planned.
Work Environment
Generally, top executives have spacious offices and various support staff. A chief executive, in large firms, has comfortable offices with all required facilities. Most of the executives have to work in scheduled time. However, some of them have time flexibility.
Top executive officers have to travel between national, international, local and regional offices to supervise operations, meet staff and customers, direct other executives and supervise managers' performance.
Many top managers and executive need to attend workshops, seminars, meetings and conferences organized by various associations. These conferences broaden opportunities to meet customers, prospective donors, government officials or contractors and allow executives and managers to use innovative technology.
In many large organizations, the job transfers between local officers. Sometimes, top executives need to perform well under severe pressure. They need to increase profit and provide good services.
Educational Qualification
The educational qualification to become top executive differs as extensively as their responsibilities do. It has been seen that top executive professionals have bachelor's degree and considerable experience. However, bachelor's degrees in liberal arts and business administration are preferred. Some top executives in the field of public sector have an educational background in liberal arts or public administration. The position of top executives is filled within the organization by promoting lower-level managers.
In transportation and retail trade industries, sometimes, it is possible to an individual become manager without holding a bachelor's degree. However, some of the top industries prefer that their top executives have extensive managerial experience.