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WORKING IN LEADERSHIP AND SENIOR MANAGEMENT

Working as a Senior Executive

Senior Executives / Managers are responsible for developing strategies and policies to ensure an organization achieves its goals. They coordinate, plan and manage the operational activities of companies and organisations and are responsible for leading and guiding their employees to drive the business forward to ensure the business thrives!

Usually, the general direction of a company or organisation is determined by the Chief E...

WORKING IN LEADERSHIP AND SENIOR MANAGEMENT

Working as a Senior Executive

Senior Executives / Managers are responsible for developing strategies and policies to ensure an organization achieves its goals. They coordinate, plan and manage the operational activities of companies and organisations and are responsible for leading and guiding their employees to drive the business forward to ensure the business thrives!

Usually, the general direction of a company or organisation is determined by the Chief Executive Officers (CEOs). CEOs formulate and implement policies, manage business processes and ensure that goals are achieved. In larger organizations, however, these tasks can be shared by other specialized managers who tend to focus on policy formulation and strategic planning.  The managing directors and operations managers will then focus on managing day-to-day operations. 

The CEO will also conduct their organization's overall policy on a daily basis and direct the other top managers with whom he works, to filter this down to the other members of staff.  The CEO will usually report into a board of directors at larger / public organisations, but in smaller firms, his accountability will ultimately just be to his colleagues and members of staff.  Therefore a CEO’s role is often call the most lonely in business, which is often why they make sure they employ Chief Operating Officers (COOs) to support them. 

COO’s oversee other executives who run the company's day-to-day operations and are often the right hand person to the CEO.  The COO’s responsibilities include formulating policies, managing day-to-day operations, planning the use of materials and personnel, drawing up staff plans and ensuring the completion of projects. 

The CFO is another integral part of an organization.  They are responsible for all the finances and accounting side of the business.  They will work closely with the CEO and the COO and ensure that they are well briefed on the financial position of the organization and are able to make their decisions knowing the exact implication those decisions will have on the bottom line of the business.  CFO’s tend to, but not always, have a background in accounting, and sometimes it is not uncommon in smaller organizations for the CFO to hold the position of COO in conjunction with that of CFO.

It is not just private companies that employ senior executives and managers.  Most public employers will also employ executives, for example in the education system you have school inspectors and college and university presidents. They typically oversee budgets, programs, and resource use, and are elected to office by mayors and governors, while managers and administrators are usually appointed by their respective state governments.

How to become a Senior Executive

There is no shortcut to becoming a senior executive, experience is probably the most important skill you can obtain, however you will also likely have needed a good level of education if you want to be a senior executive within a larger organization.

Managers of large companies often have a Master's degree in Business Administration (MBA), and public sector managers often have a Bachelor of Science in Management or Master of Management.  University presidents and school inspectors usually have acquired a master's degree, but a doctorate is often preferred.  It is important to note that should you not have a degree this would not necessarily preclude you from becoming a senior executive, workers without a university degree can move up to higher levels within a company to become executives or managing directors through experience, aptitude and determination.

No matter the industry, a lot of the top managers rise through the ranks of their own companies / organisations / institutions from lower management or supervisory positions. To help them get to the top, most organisations have training requirements for their senior executives that vary widely across positions and industries, as they have to become well versed in a variety of areas related across the field of work.  However, other companies may prefer to recruit qualified candidates from outside their organisation as they feel it can bring a fresh perspective and view to their structure. 

Managers need the ability to make decisions, define strategies and lead their organization. They need to weigh up different options and choose the best course of action, on a daily basis.  This will include discussing and negotiating issues efficiently and effectively with other members to staff to ensure their strategies and decisions are implemented across the organization.

Managers have many tasks to do to ensure that their work is done and that they achieve their goals. Managers need to identify and solve problems within the organization, and they need to be able to identify shortcomings and implement effective solutions.

Senior Executives must be able to run the company successfully by coordinating policies, people, and resources. For example, you need the ability to manage business plans, people and budgets, as well as steer and shape an organization's operations. It is for this reason that most CEOs and managers hired within an organization must have at least two years of experience as CEOs or other executive positions.

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