Sample Essay
The Chief Executive Officer, i.e. the CEO is a member of the executive management in the company. He is usually above any other senior management in the company and is held responsible for the operations of the company. He is responsible for all the strategic policies and plans that are established in the company. Aside from this in the case where there is no Board of Directors present, he holds supreme authority and responsibility in the management. However if there already exists a Board of Directors then the board of directors is entitled to a higher power than the CEO making it possible for them to hire, and fire the CEO when appropriate. The board of directors can also use their influence to change the strategic position and objectives of the company even if they are operating against the CEO. The other Chief Officers like the CFO, CIO etc have to report to the CEO of the company.
However in the case where the CEO is from the founding family of the business, the CEO can have a higher authority on the management and operations of the company. The board of directors is still responsible for the strategic management but the CEO can move the decision of the board of directors by employing his/ her authority as the member of the founding family of the business.
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