KARAN KAPOOR MBA-IB, PUNJAB COLLEGE OF TECHNICAL EDUCATION Ludhiana (Punjab: India)-142021
Responsibility of the CHIEF EXECUTIVE OFFICER (CEO) to align the company, internally and externally, with his or her strategic vision. The core duty of a CEO is to facilitate business outside of the company while guiding employees and other executive officers towards a central objective. The size and sector of the company will dictate the secondary responsibilities. A CEO must have a balance of internal and external initiatives to build a sustainable company.
Thanks to Mr. RAJNEESH OSWAL, MD & CEO of SHREYANS GROUP OF INDUSTRIES for this article on MANAGEMENT & ADMINISTRATION OF BUSINESS UNITS.
In business, administration consists of the performance or management of business operations and thus the making or implementing of major decisions. Administration is a process of organizing people and resources efficiently so as to direct activities toward common goals and objectives.
As far as quality or quantity is concerned, both go side by side. You should produce quality goods because now people are much more quality conscious, but to earn optimum profits, you have to produce optimum quantity also to satisfy demand of customer or consumers.
At the same time, in the ever changing business scenario, there are lots of challenges, like government policies, technological upgradation, customer preferences etc. To cope up with these challenges, we should be prepared in advance, so that if you are not the best you must be amongst the best.
Professionalism is the need of the hour, especially in view of the globalisation, where specialisation in the respective fields is expected. Further where the size of the business is large and multi-location, professionals with delegation 0f authority & responsibility are required for the smooth running of the business.
To retain your employees, there should be reward system in company to motivate the employees. For this team spirit should be in the employees to achieve organisation goal. Rewards are given to them, who are contributing their maximum to organisation.
All in all, to become a successful company or organisation, satisfy your employees; so that they do their best in his/her job, produce quality goods, to cope up with challenges always planned well in advance.