A business executive is a person responsible for running an organization, although the exact nature of the role varies depending on the organization.
Executives run companies or government agencies. They create plans to help their organizations grow. Becoming an executive usually takes years of promotions and hard work since the qualifications of this role needs hard working individuals with years of experience in multiple facets of the business.
The business executive occupation covers many jobs. These positions include chief executive officer, department store manager, and small business operator. Executives are in charge of their organization. They create and review goals for the company. They work closely with a team of upper-level staff or assistants. This team may make both long- and short-range plans to achieve these goals. Once the plans are set, executives make sure the company follows the changes. They do this by meeting with the managers of all the departments and getting progress reports. Executives are typically elected by the organization's owners, shareholders, board of directors. The term usually refers to the person running the organization or someone involved in the upper-level management role of a corporation, company, as opposed to being the founder, owner, or majority shareholder of the organization. [1] [2]
Executives' duties depend on how many people are on their staff. Some executives oversee general managers in different areas. In larger organizations, they may direct one area, such as marketing, finance, or legal services. For example, in the financial area, executives may direct the buying or selling of land or other investments. Other executives get more involved. They may hire and train new staff. They may direct staff in what tasks need to be done. They may choose computer systems to record data, such as budgets. When complaints arise, executives may direct investigations to resolve what occurred in the agency or between staff members.
A large part of an executive's job is developing relationships with people outside the organization. These people may be customers or contributors. One way executives create relationships is by giving speeches at conferences. Executives may also serve on the boards of community groups. These activities promote the company and its leader.
In addition, executives oversee budgets. They use budgets to analyze how well the organization is running. They make suggestions about where to cut expenses. Executives may also suggest where improvements could be made. Executives also negotiate contracts with outside agencies. They need good persuasion skills to keep costs down.
Government executives oversee agencies that develop laws and regulations. They meet regularly with their citizens. They learn how voters feel about the issues. Officials need to do these reality checks to see if they have the citizens' support. Executives also promote economic growth within their communities. They plan and organize different activities to help meet these goals. Government executives make connections between the United States and other countries. They help to promote international trade.
The government executive occupation also covers many jobs. They range from city council member, mayor, and governor, all the way up to President of the United States. Some of these positions are elected. Other officials are appointed to their jobs. In smaller communities, many of these jobs may be volunteer positions. Sometimes these jobs run through only part of the year.
A board of directors is an executive committee that supervises the activities of a business, a nonprofit organization, or a government agency.
Corporate titles or business titles are given to corporate officers to show what duties and responsibilities they have in the organization. Such titles are used by publicly and privately held for-profit corporations, cooperatives, non-profit organizations, educational institutions, partnerships, and sole proprietorships that also confer corporate titles.
Management is the administration of organizations, whether they are a business, a nonprofit organization, or a government body through business administration, nonprofit management, or the political science sub-field of public administration respectively. It is the process of managing the resources of businesses, governments, and other organizations.
Executive may refer to:
A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization.
A chief financial officer (CFO), also known as, is an officer of a company or organization who is assigned the primary responsibility for making decisions for the company for projects and its finances . The CFO thus has ultimate authority over the finance unit and is the chief financial spokesperson for the organization.
Corporate governance refers to the mechanisms, processes, practices, and relations by which corporations are controlled and operated by their boards of directors, managers, shareholders, and stakeholders.
Middle management is the intermediate management level of a hierarchical organization that is subordinate to the executive management and responsible for "team leading" line managers and/or "specialist" line managers. Middle management is indirectly responsible for junior staff performance and productivity.
A chief operating officer (COO), also called chief operations officer, is an executive in charge of the daily operations of an organization. COOs are usually second-in-command immediately after the CEO, and report directly to them, acting on their behalf in their absence.
A video game producer is the top person in charge of overseeing development of a video game.
A general manager (GM) is an executive who has overall responsibility for managing both the revenue and cost elements of a company's income statement, known as profit & loss (P&L) responsibility. A general manager usually oversees most or all of the firm's marketing and sales functions as well as the day-to-day operations of the business. Frequently, the general manager is responsible for effective planning, delegating, coordinating, staffing, organizing, and decision making to attain desirable profit making results for an organization.
Shareholder value is a business term, sometimes phrased as shareholder value maximization. The term expresses the idea that the primary goal for a business is to increase the wealth of its shareholders (owners) by paying dividends and/or causing the company's stock price to increase. It became a prominent idea during the 1980s and 1990s, along with the management principle value-based management or managing for value.
The chief risk officer (CRO), chief risk management officer (CRMO), or chief risk and compliance officer (CRCO) of a firm or corporation is the executive accountable for enabling the efficient and effective governance of significant risks, and related opportunities, to a business and its various segments. Risks are commonly categorized as strategic, reputational, operational, financial, or compliance-related. CROs are accountable to the Executive Committee and The Board for enabling the business to balance risk and reward. In more complex organizations, they are generally responsible for coordinating the organization's Enterprise Risk Management (ERM) approach. The CRO is responsible for assessing and mitigating significant competitive, regulatory, and technological threats to a firm's capital and earnings. The CRO roles and responsibilities vary depending on the size of the organization and industry. The CRO works to ensure that the firm is compliant with government regulations, such as Sarbanes–Oxley, and reviews factors that could negatively affect investments. Typically, the CRO is responsible for the firm's risk management operations, including managing, identifying, evaluating, reporting and overseeing the firm's risks externally and internally to the organization and works diligently with senior management such as chief executive officer and chief financial officer.
A public relations officer (PRO) or chief communications officer (CCO) or corporate communications officer is a C-suite level officer responsible for communications, public relations, and/or public affairs in an organization. Typically, the CCO of a corporation reports to the chief executive officer (CEO). The CCO may hold an academic degree in communications. A PRO has a positive public opinion of an organization and increased brand knowledge as their first concern. They access and monitor their client's online presence to prepare the right message to convey. They can also coach clients on the importance of self-image and how to communicate with the media. A PRO aims to positively handle and communicate information internally and externally.
Account executive is a role in sales, advertising, marketing, and finance involving intimate understanding of a client company's objectives and products and a professional capability to provide effective advice toward creation of successful promotional activities and strategies. The account executive (AE) directly works with, and provides services to, one or more delegate officers or executives of the client company.
Chief business officer (CBO) is the position of the top operating executive of growing commercial companies or an academic/research institution. In the commercial space, CBO shows leadership in deal-making experience with a clear record of results and ultimate transactional responsibility. In higher education, the titles of vice president, associate dean, assistant dean, and director are also used for the role of the chief business officer.
A development director or director of development is the senior fundraising manager of a non-profit organization, company, or corporation. The position works closely with a chief financial officer (CFO) or treasurer. A director of development is chiefly responsible for bringing in revenue streams to a non-profit, and a CFO is responsible for the fiscal management of the organization. A CFO is rarely assigned to write grant narratives, but may oversee the budget section of a grant application or a fiscal report for a grant. Some larger organizations have a grants manager as well as a grant writer/director of development. A grants manager assists the CFO with grant reports and grant-related accounting. A development director is usually remunerated for his or her work, and in best practices for nonprofit organizations, development directors earn salaries. Commissions are still considered unethical by professional organizations such as the Grant Professionals Association (GPA) and the Association of Fundraising Professionals (AFP), but the practice of commission-based remuneration depends on the state of the economy.
Frédéric Oudéa is a French businessmann who was CEO of Société Générale and as president of the European Banking Federation.
The term director is a title given to the senior management staff of businesses and other large organizations.
The Fair Employment Practice Committee (FEPC) was created in 1941 in the United States to implement Executive Order 8802 by President Franklin D. Roosevelt "banning discriminatory employment practices by Federal agencies and all unions and companies engaged in war-related work." That was shortly before the United States entered World War II. The executive order also required federal vocational and training programs to be administered without discrimination. Established in the Office of Production Management, the FEPC was intended to help African Americans and other minorities obtain jobs in home front industries during World War II. In practice, especially in its later years, the committee also tried to open up more skilled jobs in industry to minorities, who had often been restricted to lowest-level work. The FEPC appeared to have contributed to substantial economic improvements among black men during the 1940s by helping them gain entry to more skilled and higher-paying positions in defense-related industries.
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