The chief executive officer of the organization should depict certain qualities that are necessary for the proper functioning of the concerned business organization. The chief executive officer of the organization is held responsible for the proper functioning of the given organization. The evaluation of the chief executive officer is mandatory for the proper implementation of the several benefits on the part of the organization (Jenter & Kanaan, 2015). These benefits might include the proper implementation of the missions and the vision of the organization. The evaluation of the chief executive officer must also focus on the activities of the chief executive officer on the mission and the strategic plans that have been adopted by the concerned organization.
The following essay deals with the evaluation process of the chief executive officer of an organization. The essay further proceeds to discuss the various challenges that might be faced by the concerned organization due to the sole focus on the financial metrics for the determination of the long-term success of the organizations. The essay finally nears its conclusion with the discussion of the challenges that are faced by the leader in the balancing of the financial performance metrics and the as well as the governance metrics, the environmental metrics as well as the factors that are related to the social metrics within the given organization.
The leadership qualities as depicted by the chief executive officers of the organization help in the improvement of the overall performance of the organization. The chief executive officer of the organization should depict certain qualities that are necessary for the proper functioning of the concerned business organization. The chief executive officer of the organization is held responsible for the proper functioning of the given organization (Fee, Hadlock, Huang & Pierce, 2017). The chief executive officer of the organization is held responsible for the communications that have to be maintained by the given organization, the development of the strategies that are adopted by the given organization for the short as well as the long-term goals. The chief executive officer is also known to be responsible for the implementation of the vision and the mission of the organization among the various employees of the organization. The chief executive officer is also known to be the major point for the communicational purposes of the board of directors of the company and the corporate operations within the company.
The evaluation of the functionalities of the chief executive officer is thus one of the major responsibilities of the board of directors of the given business organization. The evaluation of the chief executive officer is mandatory for the proper implementation of the several benefits on the part of the organization (Brea?Solís, Casadesus?Masanell & Grifell?Tatjé, 2015). These benefits might include the proper implementation of the missions and the vision of the organization. The evaluation of the chief executive officer must also focus on the activities of the chief executive officer on the mission and the strategic plans that have been adopted by the concerned organization. The chief executive officer of the organization should be evaluated on the factors that pertain to the overall performance of the company and not just the financial aspects of the company. The evaluation of the chief executive officer should include the factors that are related to the factors like the establishment of the several expectations of the performance of the executive of the organization as well as the teamwork that exists among the chief executive officer of the organization as well as the board of directors of the concerned organization (Lobo, Neel & Rhodes, 2018). The evaluation of the chief executive officer of the organization should be organized annually. This might help to keep a track of the performance of the chief executive officer of the company.
The major factors that need to be evaluated while discussing the evaluation of the chief executive officer of the organization does not solely depend on the financial progress of the company. These factors further consider the matters that are related to the environmental metrics, the social metrics and the governance metrics that need to be maintained by the concerned company (Bennett, James & Klinkers, 2017). The chief executive officer of the organization might be evaluated on the various measures that have been related to the effects of the operations of the company on the environment wherein the company has been operating. The evaluation of the chief executive officer of the business organization further attempts to focus on the matters that are related to the functioning of the concerned organization and the contribution of the organization to the social standards that are maintained within the area wherein the company has been featuring (Boling, Pieper & Covin, 2016). The evaluation of the chief executive officer should also take into consideration the contribution of the chief executive officer towards the governance of the organization.
The chief executive officer is held responsible for the matters that are related to the governance within the given organization, especially the employees of the organization as well as the employment of the various tactics within the organization. The evaluation of the chief executive officer of a given organization does not generally depend on the matters that have been pertaining to the financial performance of the organization (Mangen, 2017). The topmost chief executive officers who according to the Forbes list of the best chief executive officers include the chief executive officer of Amazon, Jeff Bezos who would have topped the chart had the evaluation of the chief executive officers been based solely on the financial performance of the company (Amazon.com.au., 2018). The Forbes list further includes the chief executive officer of the parent company of Google, Alphabet, Larry Page (Abc.xyz., 2018). The chief executive officer of the company is known for the fact that the organization helps in the growth of the sister organization, Google. This helps in the maintenance of the sustainability of both the parent and the sister organizations. The other chief executive officer who might be cited as an exemplary chief executive officer is Mark Zuckerberg, the chief executive officer of the leading social media website, Facebook (Facebook.com., 2018). Mark Zuckerberg, the chief executive officer of Facebook is known to have been holding high positions in the list. however, in the recent years there is observed a decline in the position due to the major breach of trust that has been referred to as the Cambridge Analytica scandal. Thus, the chief executive officer of the various business organizations should be analyzed on the basis of the matters that are related to the implementation of both the financial performance of the organization as well as the performance of the company in the matters related to the environmental metrices, the governance metrices as well as the social metrices.
The multitude of the business organizations that have been functional all over the world tend to be evaluated on the performance that they aim to deliver in the financial metrices, the environmental metrices, the governance metrices as well as the social metrices. The company might face huge challenges in the conditions that include the evaluation of the company in the matters that are related to the financial performances. The high rating of the company in the financial matters reveal the fact the company has been living up to the expectation of the clientele. However, the company should also consider the matters that are related to the non-financial objectives that help in the growth of the company (Sroufe & Gopalakrishna-Remani, 2018). The non-financial factors that are related to the growth of the company tend to include the employees of the organization as well as the factors that are related to the engagement of the employees of the organization (Grant, 2016). The long-term goals of the organization deal with the expansion of the given business organization within the given market or even at the global markets wherein the concerned organization might face significant growth. The organization should undertake several measures in order to help in the retention of the organizational employees.
The major non-financial factors that need to be implemented within the organizational workforce are the trust within the employees of the organization, the ability of the management of the organization to make proper decisions, the networking abilities within the organization, the proper survey of the competitor of the organization within the given market (Klettner, Clarke & Boersma, 2014). The non-financial factors that have been observed to be helpful in the matters that are related to the satisfaction of the customers, the human resources within the organization, the several innovation techniques and targets that have been undertaken within the organization (Schaltegger & Burritt, 2017). The non-financial metrics further include the training of the concerned employees of the organization as well as the quality of the products and the services that have been extended to the concerned employees.
The long-term success of the organizations should consider the engagement of the employees of the organization towards the proper functioning of the employees of the organization. The sole focus on the financial metrics of the organization tends to deviate from the other non-tangible sources that affect the overall performance of the organization (Gitman, Juchau & Flanagan, 2015). The factors that influence the performance of the organization include the experience of the employees of the organization, the skill that is depicted within the organization as well as the knowledge that is demonstrated by the concerned employees of the organization. The various employees of the organization should be considered to be the major assets of the organization in discussion (De Villiers, Venter & Hsiao, 2017). The chief executive officer of Amazon, Jeff Bezos who would have topped the chart had the evaluation of the chief executive officers been based solely on the financial performance of the company (Amazon.com.au., 2018). The Forbes list further includes the chief executive officer of the parent company of Google, Alphabet. The chief executive officer of the company, Larry Page, is known for the fact that the organization helps in the growth of the sister organization, Google (Abc.xyz., 2018). This helps in the maintenance of the sustainability of both the parent and the sister organizations. The other chief executive officer who might be cited as an exemplary chief executive officer is Mark Zuckerberg, the chief executive officer of the leading social media website, Facebook. Mark Zuckerberg, the chief executive officer of Facebook is known to have been holding high positions in the list (Facebook.com., 2018). However, in the recent years there is observed a decline in the position due to the major breach of trust that has been referred to as the Cambridge Analytica scandal.
The leaders of the multitude of the business organizations face a huge number of problems in balancing the financial metrics within the organization as well as the governance metrics, the environmental metrics as well as the factors that are related to the social metrics within the given organization. The concerned leaders might implement the various decisions that have been implemented in order to put forth a balance in the matters related to the governance of the organization (Epstein, 2018). This might include the factors that are related to the increment in the remuneration of the employees of the organization. The company should further focus on the matters that pertain to the organizational inertia and the organizational resistance (Epstein, Buhovac & Yuthas, 2015). The organizational resistance within the company refers to the resistance that is faced in the implementation of the changes within the company. The CEOs are often observed to face the various issues that stem from the resistance faced by the management of the organization in the implementation of the changes within the organization (Georgalis et al., 2015). The other challenge that the CEOs might face refers to the organizational inertia within the organization. The organizational inertia refers to the tendency of the concerned organization to continue in the direction and follow the same trajectories that it has been following till date. The CEOs might also face huge challenges in the management of the organizational inertia (Adegbite et al., 2018). This might also result in the stagnation of the organization. The chief executive officer of Amazon, Jeff Bezos had opined that the satisfaction of the clients of the organization is one of the primary matters that the concerned company needs to satisfy (Amazon.com.au., 2018). The concerned chief executive officer of Amazon, is known to place a lot of importance in meeting the demands of the clientele of the organization. The chief executive officer of Amazon stated that the concerned companies should pay the greatest importance to even the smallest bit of details that have been highlighted within the activities of the customers of the organization. The chief executive officer of Amazon further reveals that the organizational performance also depends on the various factors that are related to the satisfaction of the employees of the given organization. The renowned chief executive officer further opined that the major amount of the improvement of the organizational performance depends on the satisfaction among the employees of the organization.
The chief executive officer of the famous social media platform, Facebook is known to implement the transformational leadership style within the given organization (Facebook.com., 2018). The chief executive officer is observed to discard all the traditional hierarchical methods that are implemented in order to deal with the various factors that help in the matters related to the organizational performances. The chief executive officer is observed to have broken down all the various walls that were present executives and the employees of the organization. The chief executive officer has implemented proper and effective communication channels within the organization (Storey, 2016). This has further helped in the reduction of the issues that were raised by the employees. The chief executive officer is known for the single-handed implementation of an idea that changed the communication style among the residents of the several countries all over the globe (Ortiz?de?Mandojana & Bansal, 2016). The chief executive officer is known to be very daunting in his attitude towards the given employees of the organization and is known to have developed trustworthy relationships with the employees of the organization. The concerned chief executive officer is known to ignore the traditional workplace attitude that seemed to be pointless in the present world. The chief executive officer is best known for propagating the idea that the work depicted by the employees of the organization is more important than the other factors like the maintenance of the dress code by the employees of the organization. The chief executive officer is known to be highly involved with the employees of the organization in order to facilitate the overall growth of the organization. The chief executive officer is also known to distribute healthy perks towards the deserving employees within the organization. This ensures the motivation of the employees of the organization and thus pushes them to serve the organization in a more diligent manner. The chief executive officer is also known for empowering the employees of the organization in order to encourage the creativity of the employees which in turn helps in the proper growth of the company.
Conclusion:
In lieu of the above discussion, it might be derived that the financial metrics is one of the factors that might be implemented in order to bring forth an improvement in the overall performance of the organization. The high rating of the company in the financial matters reveal the fact the company has been living up to the expectation of the clientele. However, the company should also consider the matters that are related to the non-financial objectives that help in the growth of the company. The organization should undertake several measures in order to help in the retention of the organizational employees. It can also be stated that the chief executive officer of the various business organizations should be analyzed on the basis of the matters that are related to the implementation of both the financial performance of the organization as well as the performance of the company in the matters related to the environmental metrices, the governance metrices as well as the social metrices. The leadership styles that are followed by the concerned organizational leader also impacts the overall performance of the given company.
References:
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