Important Role of CEO in Strategic Management
Among all the strategists, the Chief Executive Officer (CEO) is the key person in strategic management. He is the link between the board and top level executives of the organization.
1. Being the top most general manager of the organization, he integrates different functional areas of management and visualizes the total organization.
2. He foresees the external environmental factors and their impact on the business.
3. He 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. He evaluates the present mission, objectives, policies and strategies against the future probable changes and reformulates them, if necessary.
6. He formulates new objectives, policies and strategies as and when grand changes takes place in the environment like economic liberalization and technological advancement.
7. The CEO provides information and data to the board regarding strategy formulation.
8. He 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 external environment, to senior mangers, guides and helps them in formulating, implementing and evaluating and reformulating strategies at strategic business units are based on the corporate strategies.