Tuesday, May 8, 2012

How to become CEO of a company

I am watching Undercover Boss and there is a woman who is CEO going undercover at Fast Signs (the company she runs yet never has printed a sign in her life) so I wondered (as always =) ) How can this woman who have never even worked in the business of sign Head the entire company....here is what i found:

Whether you're looking to start your own company or head an existing one, becoming a CEO (chief executive officer) is a life-changing experience. It takes more than business savvy and management abilities to steer a successful company. Some self-exploration will serve you well in the future when the newness of the experience has worn off and you realize you're responsible for your staff's well-being.

Read more: How to Become a CEO | eHow.com http://www.ehow.com/how_2064135_become-ceo.html#ixzz1uKd6BCzk

  • 1
    Be honest about whether you're ready to take on the responsibility of being a CEO. The buck stops with you. No matter who messed up, everyone will look to you to make it right.
  • 2
    Assess how much risk you can take. The CEO makes decisions that affect the health of a company, whether it's their own or someone else's. You'll need to combine creativity with caution.
  • 3
  • Think about your vision for what you want to do in life. You could direct a manufacturing company to international success, but if you know they exploit their workers and it bugs you, you'll feel empty.

  • 4
    Figure out a strategy for your career. Write a detailed business plan if it's your own company. Target an industry and map out where you could fill a need and how you're going to do it.
  • 5
    Work on your communication skills. Take a course in business writing. Read articles on making presentations.
  • 6
    Delegate tasks as much as possible. Trust your team's abilities and let them do their job in peace. Listen to their suggestions and, if they don't match your company's strategies and vision, explain why.
  • 7
    Maintain good relationships with your staff. Learn everyone's first name, no matter how large your company is. Pay them generously and reward them for creativity and quality.

  • How does one become a chief executive officer (CEO)? Is there a certain blueprint to follow in order to attain this prestigious title? What professional and personal traits are necessary for the position? Technically, anyone can fill the chief executive slot, but typically those who have distinguished themselves in some manner and have strong leadership characteristics end up getting the job.

    There are no laws stipulating that chief executives must have attended college or that they must have a master's degree. However, very few people make it to the top of the corporate ladder these days without some sort of formal education.

    Why is having a formal education so important? There is no simple answer to that question; however, completing university courses does provide one with exposure to a number of disciplines and causes a person to think, interact and share ideas with others, which are valuable experiences for a CEO to have. A degree from an Ivy League school or other top-tier institution is sometimes given even more credence because of the competitiveness that often accompanies such programs.

    Many CEOs have some form of business degree. Note, however, that the degree could be in economics, management, finance or another business-related discipline. (Think you need an MBA to stay competitive? Read Should You Head Back To Business School?)

    Some well-known chief executives, however, dropped out or never went to college:
    • Richard Branson, CEO of Virgin Group
    • Michael Dell, CEO of Dell Computer (NYSE:DELL)
    • Barry Diller, CEO of IAC/Interactive (NYSE:IACI)

    Personality Traits Having a degree from a top-notch school and an exceptional knowledge of the industry in which the company operates are great qualities to have. However, those qualities in and of themselves don't guarantee that a person will make it to the top of the corporate ladder. Personality traits may also play a role in an individual's ability to attain chief executive status.

    Typically, CEOs are:
    • good communicators, deal makers and managers
    • extroverts who are eager to go out on the road and tell their company's story
    • able and willing to present a cohesive vision and strategy to employees
    • able to garner respect
    Generally speaking, a person must have a great deal of experience in the company's field in order to become CEO. A chief executive's job is to provide vision and a course for the company to navigate, which is difficult to do without extensive experience and a working knowledge of the potential risks and opportunities that lie ahead for the company.

    Prior senior-level managerial experience is also generally a must. After all, how can an individual be expected to run a multimillion- or multibillion-dollar company with hundreds or thousands of employees unless he or she has previous experience managing and/or overseeing other employees?
    A great example of someone who worked his way up the ranks is, again, Jack Welch. Welch joined General Electric in 1960 as an engineer and worked his way up to vice president and vice chairman before becoming CEO in 1981. By the time he got there, he knew the company and the landscape well. He had also previously held a high-level position.
    Then there's Andrea Jung, CEO of Avon Products (NYSE:AVP). Jung has a sizable amount of experience in retail. After graduating from Princeton, she worked for Bloomingdales, where she was part of the management trainee program. From there, she also worked at Neiman Marcus, another high-end outfit where she served as executive vice president. When she finally came to Avon, she started as a consultant and then moved up to chief operating officer (COO) before finally landing the chief executive position.
    Bottom LineAlthough some individuals are born leaders, most are made. Becoming a chief executive typically takes years of hard work. Extensive experience in the company's field is desirable and some companies tend to prefer those with degrees from upper-tier schools. Finally, those that have worked their way up from a low level within the organization may have an advantage, as they arguably know the company better than any outsider ever could.

    Read more: http://www.investopedia.com/articles/financialcareers/08/ceo-chief-executive-career.asp#ixzz1uKfCzQ00

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