Why is the trend for successful business leaders to prepare themselves for their next CEO
The word owner is a very broad word that is used not only for business or enterprises but also for everyday life. It implies to a person, an entity who has some right and ownership. But, the most common mistake what people do is to confuse between CEO and owner. The CEO is the Chief Executive Officer who holds the highest rank in the corporate world.
The owner has the right to use, hold, and transfer, benefit from, enjoy, convey and even let go of some of his or her properties. But the CEO has restricted and defined rights. However, it is the fact that the CEO can hold ownership rights and vice versa.
The role of the CEO is to work on strengthening both the internal and external visions of the company. It is a huge responsibility as there are some big multinational corporations in Asia and another part of the world that practices the habit of having not only two but three CEOs.
But, it is now fast gaining trend that the CEO is the owner of the company. This is a possibility but not all the time. One can be a CEO and owner as well.
The reason for the owner becoming the CEO as well as to have autonomous control over the business. This is mainly common in the small and midsized companies where multitasking is the forte. Well, the trend is fast catching up in big MNC’s as well.
The owner is the generic term and CEO is the title and position offered to someone who has the full responsibility and management skills to run and operate the business. So, it is the trend for an owner to become the next CEO to give them a designated position.