|Type of paper:||Research paper|
|Categories:||Career Professional development|
Today, entrepreneurship is among the leading professions in the economies of different nations around the globe. Additionally, entrepreneurship entails the setting up of a business or businesses, acquiring and managing risks and making managerial decisions pertaining a business venture. Entrepreneurship can be practiced in different forms like sole proprietors, partnerships or corporations. Personally, in the future, I plan to become a chief executive officer (CEO) in a publicly traded corporation. Additionally, CEOs are the highest ranking individuals in large corporations and with the primary function of making managerial decisions. This essay will provide a comprehensive discussion of the reasons why I would love to be a CEO in a multinational publicly traded corporation.
Explanation of Selecting the Job Position
Since I was young, I have always been interested in being an entrepreneur. My passion for this profession was derived from the reason that my parents have also been entrepreneurs all their life. Additionally, it is from them that I learned how to become a good entrepreneur at a tender age. Moreover, as I grew, my interest in becoming a CEO in a major entrepreneurial venture like a publicly traded corporation also developed. Since then, I have executed voluminous research pertaining the profession both from academic and secondary sources. Today, I am confident of pursuing this profession mainly after completing my higher level education.
There are two primary things that mainly interests me in taking on this profession. First, I have always loved the prospect of having a lot of money, which is a major pro of being a CEO. Also, the second reason why I am interested in this position is to attain career satisfaction. In this case, I believe being a CEO will make me feel accomplished with my life since it is an ambition that I have had since I was very young. Moreover, I believe that I am suited for this role because I am a hardworking person with a lot of passion for business.
Description of the CEO Job
There is no defined academic qualification that a person must have to be a CEO in a corporation. However, this hypothesis is only true if the corporation started as a sole entrepreneurship venture in which case the owner of the business is also its CEO. However, to be appointed as a CEO in a publicly traded corporation, a person must have excellent leadership and management skills that are attained through taking business and business management-related courses. Also, examples of academic professional courses that a CEO Job position applicant must have to qualify for the position include bachelor and masters' degrees in business administration, commerce, and sales and management among others.
Moreover, appointed CEOs are also supposed to have sufficient working experience in a management-related working position. Additionally, such a working experience can range from five years to over 10 years. Also, the CEO Job position is the highest role in most corporations. However, as part of role advancement, a functioning CEO can also be appointed as the chairman of the corporation whereby she would be tasked with the responsibility of managing the board members of his/her organization. Also, the salary range of CEOs varies in different corporations. Such variations are caused by factors such as the net revenue attained by the corporations by the end of each financial year. Nevertheless, top CEO in the world are paid millions of dollars annually (Martin, 2017).
From an interview conducted on a CEO is a local public limited liability company, potential applicants for the position must have a Master Degree in Business Administration. Also, the applicant must have a working experience of a minimum of five years in a similar position from another public limited liability company. Lastly, according to the respondent of the interview, the CEOs in his company are paid approximately half a million dollars annually as their basic salary and an estimated quarter of a million as a bonus from the corporation.
According to a publication authored and published by Martin (2017) on the CNBC website, Marc Lore who is the CEO of Walmart Corporation was paid a salary of $346,154 as well as a bonus of $1,055,136 in 2017 (Martin, 2017). Also, in a different publication authored by the Glassdoor Team (2015), Discovery Communications paid its CEO, sir, David Zaslav $156,077,912 in 2015. Additionally, according to the publication, the Zaslav was among the highest paid CEO in the United States (Glassdoor Team, 2015).
Availability of the Jobs
Despite its lucrative gains, there are few CEO jobs in the United States and other parts of the world. Additionally, this is respect to the number of potential persons who can qualify for the job positions. Moreover, the low number of CEO jobs is based on the reason that the vetting process is comprehensive, which limits the number of persons who can sufficiently qualify for the jobs if advertised. Also, a single CEO can work in a company for over a decade unless voted out by the corporation's board members.
Moreover, there were only 10 CEO positions that were advertised in my local region and the positions were filled by the respective organizations' members of the board. Also, among the 10 stated CEO jobs, none were advertised in the local jobs directory. Instead, the jobs were published in the respective corporations' websites. Ultimately, in respect to these arguments, it is not easy to speculate on the number of CEO jobs that can occur within a defined geographic region in a specified period of time.
Description of the Process of Entering Into the Job
The first goal I will strive to achieve in order to become a CEO is to attain exemplary academic qualifications, both in the Undergraduate and Masters' academic levels. Secondly, I plan to establish my own business as a sole proprietor, where I can build a large clientele for the products that I will be retailing. Additionally, within two years, I am pessimistic that my business will have grown substantially and I will convert my business into a private limited corporation.
Furthermore, I will look for potential investors who were can team up to further support my business as a corporation. At this point, I believe that I will be a top executive in the business being the initial founder of the corporation. Moreover, I will strive to expand the business through foreign direct investment (FDI) to further support my company. Lastly, in a decade, I believe that the corporation will go public and because I will have demonstrated my good leadership skills, I will be in a position to via and qualify for the CEO Job position.
There are three primary factors that will make me better suited for the job than other potential candidates at the corporation. First, I will have exemplary academic records with outstanding results. Second, being a founder of the corporation, I will have more influence on the board of directors responsible for appointing the CEO, compared to other candidates qualified for the job. Lastly, I will have a long working experience with the corporation, having worked in the business for approximately a decade. In this case, even though other candidates might have a larger working experience in a management position, I will be positioned better for the job having gained the working experience from the same organization.
In conclusion, today, entrepreneurship is among the leading professions in the economies of numerous nations around the world. Subsequently, this has made the CEO Job position to be among the most lucrative profession in the world. Personally, I am interested in becoming a CEO because I have always been interested in becoming an entrepreneur. Furthermore, I believe that being a CEO will offer me career satisfaction. Moreover, to be a CEO, a person must have excellent leadership and management skills. Also, such skills can be attained through taking professional courses like bachelor and masters' degrees in business administration, commerce, and sales and management among others. Additionally, from the secondary data collected during the research, it is evident that CEOs can be paid hundreds of millions of dollar by their respective companies every financial period. Nevertheless, there is a low number of CEO jobs today based on the reason that the vetting process is comprehensive, which limits the number of persons who can sufficiently qualify for the jobs if advertised.
Glassdoor Team. (2015). Here's How Much More CEOs Earn Than Their Employees. Retrieved from Glassdoor: https://www.glassdoor.com/blog/heres-ceos-earn-employee/
Martin, E. (2017). The 5 highest-paid CEOs in the US. Retrieved from CNBC: https://www.cnbc.com/2017/05/11/highest-paid-CEOs-in-america.html
What academic qualification must you have to become a CEO?
How long is the working experience that a CEO Job applicant is required to have to qualify for the CEO position?
How much are you paid as a CEO?
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