The Role Of Chief Executive Officer Commerce Essay
|✅ Paper Type: Free Essay||✅ Subject: Commerce|
|✅ Wordcount: 1546 words||✅ Published: 1st Jan 2015|
I have to make operational and strategic planning where I have to follow certain strategic framework. I have three important operations to perform those are functional improvement, functional excellence, and functional innovation these are the functional strategies of CEO.
Strategy is important to be followed in the organization for the systematic and accurate achievement of the company’s objective, so I will follow the following strategies.
FUNCTIONAL IMPROVEMENT STRATEGY
Delivers functional competence- in a solitarily practical area, the administration of the operations in process is attended by the CEO of the company who develops the operations through balancing the build-to-order in a make-to-stock milieu so that the requirements of the customers can be met on time decreasing the lead-time and prolonging the production.
Customer service and (Brickley, J. A, 2003,pp.227-233) satisfaction and the prosperity of the business are essential to be balanced. It is very important for me to have operational improvement because VISION of my company is we want the process to be quick, hassle-free and cost-effective.
We know you’ll be more impressed by an advertising campaign that gets your products flying out the door. Our success is based on our ability to design innovative campaigns (Engel, E., R. M, 2003,pp. 197-226) that help our clients stand out in a crowded marketplace. We also aim to keep in mind the fundamental values a company holds.
This is the most important functional strategy because there is need to make improvement wherever the need is required in the areas of weakness of the company that is the most effective and efficient method of performance improvement for the company.
Delivers business competitiveness-in order to accomplish the best presentation, the interior (Engel, E., R. M,2003,pp. 197-226) procedures of the company are to be renovated with the brilliance in the operations. The ‘best in rank’ is described by the outside information.
The company decides the foundation of competition and then the crack between the competition and the actual performance is assessed and precedence is allocated.
A harmonized course of modification, coordination and presentation development is required (Brickley, J. A, 2003,pp.227-233) to fill up the crack through many functions. In the operational approach, its brilliance and intensity is the core constituent.
I have to have a consistent look on the excellence on the operation of the company, it is very challenging job for me because all board members will be involved in knowing the operational excellence achievement of the Brainz Inc.
Functional excellence in what all methods can be achieved can be easily know through distinctive functions of the organization, that is again the biggest challenge for me because our focus is more on ignition of brands.
Delivers each and every new (Engel, E., R. M, 2003,pp. 197-226) company on a bare page creates a commanding, game-changing operational mode-an equipped representation. The company employs a differential model or the standard one. There are three causes for the new ventures to open. The effect of each cause is different on the creativity of operational models.
Commodity technology product or commodity service basis: in this the Brainz Inc. is most likely to employ the standard operational model, since the cost the proposal of gain over cost is there (Sapienza, H. J, 1994,pp.1618-163)
New technology: in this the excellence in the technology is the proposed assessment; therefore the Brainz Inc. will make sure that the employment of the prevailing standard operational model.
Competitive operational model: in this the Brainz Inc. usually will undertake the newly created (Murphy, K. J, 1993,pp.273-315) innovative operational model on which the model is based on the profit attainability and achieving of Brainz Inc. objective, since the proposed value is the customer service as well as the cost advantage.
On the other hand the already recognized Brainz Inc. Company will enjoy two choices-of immediate reaction. They can either continue with the already employed operational model or (Sapienza, H. J, 1994,pp.1618-163) if necessary they can create even better operating model to face the threat of new entrants in the market. From the above discussion it can be made clear that how does the operation of the work is important and how easily it can be achieved from the organization by the CEO.
KEY PERFORMING INDICATORS (KPIs)
Adnan Alsilami, I have been appointed as the CEO of Brainz Inc., whose mission statement is to “Igniting brands (Murphy, K. J, 1993,pp.273-315) in ways that generate impact and excitement”. I have to perform certain KEY PERFORMING INDICATORS (KPIs) roles to archive company’s objective and goal.
It is not for any surprise that I have to make a strong focus on the financial results, whereby insuring all KPI’s are achieved effectively and efficiently, where I have to focus more on Net Incomes of the Brainz Inc. where few return on investment will be used. I have to make lots of emphasis on cash management and cost control that is the prime functioning of CEO.
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I have to make strong recommendations on marketing and PR targets (where brand awareness of our company, targets those are favored, stakeholders interest in the company needs to be developed). I will watch sales number; whenever there is a change in the revenue (Healy, P. M., 1987,pp. 7-34) it is important to have immediate warning in the organization in order to control risk factors.
It is important for me to enhance leadership skills and capabilities in the employees of organization so (Healy, P. M., 1987,pp. 7-34) that leadership related issues are solved the command I given to a immediate lower position of CEO, It is very important for me to spend my maximum time in solving these issues.
Provide relevant and accurate information
The entire discussion in board highly depends on the information provided by CEO. It is important to have (Bushman, R. M., 1996,pp. 161-193) quality and quantity information that has to be delivered to the board so that no relevant as well as accurate information is circulated. The biggest challenge for me will be to provide right information to Abhijit Barthakur (CIO), Jagdish Patil (CTO), Abdul Ahmed E Yakub (CNO), Nafiu Abdulrahman (CKO), Auwal Mohammad (COO) who are the board members of Brainz Inc Company.
STRATEGIC PLANNING AND DECISION MAKING
The operational along with strategic planning decisions that I will make are entirely based on the assumption; it is again a challenge for me because assumptions made from the past are not (Bushman, R. M., 1996,pp. 161-193) accurate as compared with the future happening. It is very easy to loose credibility with the board while making unrealistic decisions, its important to have focus on decisions.
BUDGET AND COST DISTRIBUTION DECISIONS
With the board members important and most essential characteristic of mine is to make decisions about the budget which means allocation of cost in different department where CKO, CFO, COO, CTO, CNO will actively participate while laying their strategic (Bushman, R. M., 1996,pp. 161-193) plans for achieving goals of the company as We plan to build strong brand profiles through innovative and ground breaking ideas. By creating buzz and affinity, we are going to infuse traits of innovation and energy into it
Once the plans are laid an implemented, the most important part is to make performance analysis (Murphy, K. J, 1993,pp.273-315) of every department of the Brainz Inc. So that wherever there is any inefficiency it can be solved and the departments those are maximizing the profits.
Above mentioned are the KPI’s of mine, which I need to take care so that goals and objectives are achieved.
Brickley, J. A, Empirical research on CEO turnover and firm-performance: A discussion. Journal of Accounting and Economics (December), 2003,pp.227-233
Bushman, R. M., R. J. Indjejikian and A. Smith, CEO compensation: The role of individual performance evaluation. Journal of Accounting and Economics (April), 1996,pp. 161-193
Engel, E., R. M. Hayes and X. Wang, CEO turnover and properties of accounting information. Journal of Accounting and Economics (December), 2003,pp. 197-226
Healy, P. M., S. Kang and K. G. Palepu, The effect of accounting procedure changes on CEOs’ cash salary and bonus compensation. Journal of Accounting and Economics (April), 1987,pp. 7-34
Murphy, K. J. and J. L. Zimmerman, Financial performance surrounding CEO turnover. Journal of Accounting and Economics (January-July), 1993,pp.273-315
Sapienza, H. J. and A. K. Gupta, Impact of agency risks and task uncertainty on venture capitalist-CEO interaction. The Academy of Management Journal 37(6), 1994,pp.1618-163
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