What is the primary responsibility of a Chief Executive Officer (CEO)?

The primary responsibility of a Chief Executive Officer (CEO) lies in the overall management of the business. This role encompasses a wide range of functions, including setting the strategic vision and direction for the company, making high-level decisions that affect the organization's operations, and ensuring that all departments align with the company's goals. The CEO acts as the main point of communication between the board of directors and corporate operations, facilitating effective governance and leadership.

While managing cash flow and budget is crucial, it is typically a responsibility that falls under the purview of the Chief Financial Officer (CFO) or finance team rather than the CEO. Similarly, overseeing product development is usually managed by specific departments like product management or R&D. Direct involvement in daily operations may occur, but it can distract from the broader responsibilities a CEO has in terms of strategic management and leadership, often leading them to delegate these tasks to subordinate managers. Thus, the core duty of a CEO centers around holistic management of the business rather than the specifics of operational tasks.