From the CEO Down


Each key position within a company is important in contributing to profits, but each contributes in different ways.

Ultimately the CEO is the most significant position in terms of impacting profitability. The CEO is the one who needs to decide what is good and bad business. Another key task for which the CEO is responsible concerns structuring the compensation plans of the operational managers in order to ensure that they are being paid to do what he or she wants them to do. If this structure is firmly established and well-organized, from the top down, each position is able to understand his or her role in contributing to the success of profit centers.

For example, each of my operational department managers (Software Service, Customer Services, Sales) has bottom line responsibility for their areas. Likewise, in our company, the CFO is a monitoring tool, or as I sometimes refer to them, an autopsy tool. Often, they can tell you what happened but they cant do anything about it after the fact. That is why it is vitally important that your operational managers have profit responsibility.




Inside the Minds Stuff - Inside the Minds. Managing for Profit. Leading CEOs on Key Strategies for Increasing Profits Exponentially in Any Economy
Inside the Minds Stuff - Inside the Minds. Managing for Profit. Leading CEOs on Key Strategies for Increasing Profits Exponentially in Any Economy
ISBN: N/A
EAN: N/A
Year: 2004
Pages: 130

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