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IMPORTANT ROLE OF CEO IN STRATEGIC MANAGEMENT

Among all the strategists, the Chief Executive Officer (CEO) is the key person in strategic management. The CEO is the link between the board and top-level executives of the organization.

1. Being the topmost general manager of the organization, the CEO integrates different functional areas of management and visualizes the total organization.

2. The CEO foresees the external environmental factors and their impact on the business.

3. The CEO organizes the whole data, ideas and information and conceptualizes them.

4. The CEO looks forward based on his past experience and ability to understand the future changes.

5. The CEO evaluates the present mission, objectives, policies and strategies against the future probable changes and reformulates them, if necessary.

6. The CEO formulates new objectives, policies and strategies as and when grand changes take place in the environment like economic liberalization and technological advancement.

7. The CEO provides information and data to the board regarding strategy formulation.

8. The CEO provides the observations of strategy evaluation to the board and advises it either to continue the present strategy or to reformulate it or formulate a new strategy.

9. The CEO provides data regarding the external environment, to senior managers, guides and helps them in formulating, implementing and evaluating and reformulating strategies at strategic business units are based on the corporate strategies.

Source Accountlearning.com

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