Executive officers are top executives of an organization. These professionals are often promoted into these roles after years of dedicated employment with an organization, and have titles such as chief executive officer (CEO) or chief operating officer (COO). This occupation typically requires at least a master's degree, and 20 years of progressive experience. In May 2008, The Bureau of Labor Statistics listed a national median salary of $158,560 per year for top executives.
These professionals ensure current and future goals of the organization are met. To meet goals, an executive officer devises strategies for the organization to be successful. This includes analyzing operations to evaluate performance of the organization, as well as analyzing employees and their ability to meet the organization's objectives. This professional then determines areas of potential cost reduction or policy changes. This requires a keen understanding of the organization's industry trends and competition.
Working with other top executives, an executive officer develops and implements policies for the organization and it's employees to adhere to. This includes planning and developing industrial, labor and public relations policies designed to improve company's image and relations with customers, employees, stockholders and the general public. This may also involve evaluating performance of executives, directors and managers for compliance with established policies and objectives of the organization. For most organizations, these policies are approved by the board of directors.
Executive officers are responsible for the profitability of the entire organization. They direct and coordinate the organization's financial budget to fund operations, maximize investments and increase productivity and efficiency. This includes directing and coordinating the formulation of financial programs to provide funding for new or current operations that will maximize the returns of investments and increase profitability.
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- The Steps to Budget Processes
- Duties of a Chief Executive Officer
- Officer Duties & Responsibilities