Career Profile: General Management
We are all familiar with the titles top-line executives receive, from CEO to CTO; these are the individuals who assume responsibility for management of their organizations at large. Companies, in particular large and publicly traded companies, have a general management team that consists of all of their headline executives, which often consists of the CEO, President, COO, CFO, and CTO. As a unit the general management team, under the leadership of the CEO, work within their department to execute on company driven objectives.
Primarily the general management team is accountable for achieving revenue targets, maintaining organizational efficiency, and working together to progress company interests.
Prior to the corporate scandals in the early 2000s, general management teams exercised a lot of discretion with the permission of shareholders and board members because profits targets were being achieved. Fast forward a few years later and many companies rocked by scandal because of the misdeeds of their most senior management leaders know keep a watchful eye on the activities of the general management team.
As more shareholders have developed a heightened sense of mistrust, general management teams are held to higher standards of performance and ethical business practices. Since CEOs, CFOs, etc. occupy many different industries, best practices are defined by the respective company and field of specialty.
Most C-level executives in today’s companies have an established record of success in their field and have worked their way up the traditional corporate ladder. In terms of career outlooks and job growth, the U.S. Bureau of Labor Statistics predicts that the job growth rate for top executives will keep pace for all jobs overall through 2014. Competition will remain fierce as many talented executives contend to work their way up to the C-suite and enjoy the many financial perks that accompany the title.
Before entering a management position you’ll have to have proven yourself in your industry. As you gain experience you’ll have to work your way through varying degrees of management as you climb up the corporate latter. You’ll have to be handle a lot of pressure and scrutiny as your actions will be watched by the entire company. If you’ve proven yourself and you can work well under pressure you may be fit for a c-level title.
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