Chief executive officer
The chief executive officer or just chief executive, is the most senior corporate, executive, or administrative officer in charge of managing an organization – an independent legal entity such as a company or nonprofit institution. CEOs lead a range of organizations, including public and private corporations, non-profit organizations and some government organizations; the CEO of a corporation or company reports to the board of directors and is charged with maximizing the value of the entity, which may include maximizing the share price, market share, revenues or another element. In the non-profit and government sector, CEOs aim at achieving outcomes related to the organization's mission, such as reducing poverty, increasing literacy, etc. In the early 21st century, top executives had technical degrees in science, engineering or law; the responsibility of an organization's CEO are set by the organization's board of directors or other authority, depending on the organization's legal structure.
They can be far-reaching or quite limited and are enshrined in a formal delegation of authority. Responsibilities include being a decision maker on strategy and other key policy issues, leader and executor; the communicator role can involve speaking to the press and the rest of the outside world, as well as to the organization's management and employees. As a leader of the company, the CEO or MD advises the board of directors, motivates employees, drives change within the organization; as a manager, the CEO/MD presides over the organization's day-to-day operations. The term refers to the person who makes all the key decisions regarding the company, which includes all sectors and fields of the business, including operations, business development, human resources, etc; the CEO of a company is not the owner of the company. In some countries, there is a dual board system with two separate boards, one executive board for the day-to-day business and one supervisory board for control purposes. In these countries, the CEO presides over the executive board and the chairman presides over the supervisory board, these two roles will always be held by different people.
This ensures a distinction between management by the executive board and governance by the supervisory board. This allows for clear lines of authority; the aim is to prevent a conflict of interest and too much power being concentrated in the hands of one person. In the United States, the board of directors is equivalent to the supervisory board, while the executive board may be known as the executive committee. In the United States, in business, the executive officers are the top officers of a corporation, the chief executive officer being the best-known type; the definition varies. In the case of a sole proprietorship, an executive officer is the sole proprietor. In the case of a partnership, an executive officer is a managing partner, senior partner, or administrative partner. In the case of a limited liability company, executive officer is any manager, or officer. A CEO has several subordinate executives, each of whom has specific functional responsibilities referred to as senior executives, executive officers or corporate officers.
Subordinate executives are given different titles in different organizations, but one common category of subordinate executive, if the CEO is the president, is the vice-president. An organization may have more than one vice-president, each tasked with a different area of responsibility; some organizations have subordinate executive officers who have the word chief in their job title, such as chief operating officer, chief financial officer and chief technology officer. The public relations-focused position of chief reputation officer is sometimes included as one such subordinate executive officer, but, as suggested by Anthony Johndrow, CEO of Reputation Economy Advisors, it can be seen as "simply another way to add emphasis to the role of a modern-day CEO – where they are both the external face of, the driving force behind, an organisation culture". In the US, the term chief executive officer is used in business, whereas the term executive director is used in the not-for-profit sector; these terms are mutually exclusive and refer to distinct legal duties and responsibilities.
Implicit in the use of these titles, is that the public not be misled and the general standard regarding their use be applied. In the UK, chief executive and chief executive officer are used in both business and the charitable sector; as of 2013, the use of the term director for senior charity staff is deprecated to avoid confusion with the legal duties and responsibilities associated with being a charity director or trustee, which are non-executive roles. In the United Kingdom, the term director is used instead of chief officer". Business publicists since the days of Edward Bernays and his client John D. Rockefeller and more the corporate publicists for Henry Ford, promoted the concept of the "celebrity CEO". Business journalists have adopted this approach, which assumes that the corporate achievements in the arena of manufacturing, wer
Brunei the Nation of Brunei, the Abode of Peace, is a country located on the north coast of the island of Borneo in Southeast Asia. Apart from its coastline with the South China Sea, the country is surrounded by the Malaysian state of Sarawak, it is separated into two parts by the Sarawak district of Limbang. Brunei is the only sovereign state on the island of Borneo. Brunei's population was 423,196 in 2016. At the peak of the Bruneian Empire, Sultan Bolkiah is alleged to have had control over most regions of Borneo, including modern-day Sarawak and Sabah, as well as the Sulu Archipelago off the northeast tip of Borneo and the islands off the northwest tip of Borneo; the maritime state was visited by Spain's Magellan Expedition in 1521 and fought against Spain in the 1578 Castilian War. During the 19th century, the Bruneian Empire began to decline; the Sultanate ceded Sarawak to James Brooke and installed him as the White Rajah, it ceded Sabah to the British North Borneo Chartered Company. In 1888, Brunei became a British protectorate and was assigned a British resident as colonial manager in 1906.
After the Japanese occupation during World War II, in 1959 a new constitution was written. In 1962, a small armed rebellion against the monarchy was ended with the help of the British. Brunei gained its independence from the United Kingdom on 1 January 1984. Economic growth during the 1990s and 2000s, with the GDP increasing 56% from 1999 to 2008, transformed Brunei into an industrialised country, it has developed wealth from extensive petroleum and natural gas fields. Brunei has the second-highest Human Development Index among the Southeast Asian nations, after Singapore, is classified as a "developed country". According to the International Monetary Fund, Brunei is ranked fifth in the world by gross domestic product per capita at purchasing power parity; the IMF estimated in 2011 that Brunei was one of two countries with a public debt at 0% of the national GDP. Forbes ranks Brunei as the fifth-richest nation out of 182, based on its petroleum and natural gas fields. According to local historiography, Brunei was founded by Awang Alak Betatar to be Sultan Muhammad Shah, reigning around AD 1400.
He moved from Garang in the Temburong District to the Brunei River estuary. According to legend, upon landing he exclaimed, Baru nah, he was the first Muslim ruler of Brunei. Before the rise of the Bruneian Empire under the Muslim Bolkiah Dynasty, Brunei is believed to have been under Buddhist rulers, it was renamed "Barunai" in the 14th century influenced by the Sanskrit word "varuṇ", meaning "seafarers". The word "Borneo" is of the same origin. In the country's full name, Negara Brunei Darussalam, darussalam means "abode of peace", while negara means "country" in Malay; the earliest recorded documentation by the West about Brunei is by an Italian known as Ludovico di Varthema, who said the "Bruneian people have fairer skin tone than the peoples he met in Maluku Islands". On his documentation back to 1550; the people are men of goodwill. Their colour is whiter than that of the other sort... in this island justice is well administered... The settlement known as Vijayapura was a colony to the Buddhist Srivijaya empire and was thought to be located in Borneo's Northwest which flourished in the 7th Century.
In the aftermath of the Indian Chola invasion of Srivijaya, Datu Puti lead some dissident datus from Sumatra and Borneo in a rebellion against Rajah Makatunao, a Chola appointed local Rajah. The dissidents and their retinue tried to revive Srivijaya in a new country called Madja-as in the Visayas islands in the Philippines. One of the earliest Chinese records of an independent kingdom in Borneo is the 977 AD letter to Chinese emperor from the ruler of Po-ni, which some scholars believe to refer to Borneo. In 1225, a Chinese official, Chau Ju-Kua, reported that Po-ni had 100 warships to protect its trade, that there was a lot of wealth in the kingdom. In the 14th century, the Javanese manuscript Nagarakretagama, written by Prapanca in 1365, mentioned Barune as the constituent state of Hindu Majapahit, which had to make an annual tribute of 40 katis of camphor. In 1369, Sulu, formerly part of Majapahit, had rebelled and attacked Po-ni, looting it of treasure and gold. A fleet from Majapahit succeeded in driving away the Sulus, but Po-ni was left weaker after the attack.
A Chinese report from 1371 described Po-ni as poor and controlled by Majapahit. During the 15th century, Po-ni had seceded from Majapahit and converted to Islam, thus transforming into the independent Sultanate of Brunei. Brunei became a Hashemite state when she allowed the Arab Emir of Mecca, Sharif Ali, to become her third sultan. Scholars claim that the power of the Sultanate of Brunei was at its peak between the 15th and 17th centuries, with its power extending from northern Borneo to the southern Philippines and in the northern Philippines which Brunei incorporated via territorial acquisition accomplished through royal marriages. However, Islamic Brunei's power was not uncontested in Borneo since it had a Hindu rival called Kutai in the sou
The chairman is the highest officer of an organized group such as a board, a committee, or a deliberative assembly. The person holding the office is elected or appointed by the members of the group, the chairman presides over meetings of the assembled group and conducts its business in an orderly fashion. In some organizations, the chairman position is called president, in others, where a board appoints a president, the two different terms are used for distinctly different positions. Other terms sometimes used for the office and its holder include chair, chairwoman, presiding officer, moderator and convenor; the chairman of a parliamentary chamber is called the speaker. The term chair is sometimes used in lieu of chairman, in response to criticisms that using chairman is sexist, it is used today, has been used as a substitute for chairman since the middle of the 17th century, with its earliest citation in the Oxford English Dictionary dated 1658–1659, only four years after the first citation for chairman.
Major dictionaries state that the word derives from a person. A 1994 Canadian study found the Toronto Star newspaper referring to most presiding men as "chairman", to most presiding women as "chairperson" or as "chairwoman"; the Chronicle of Higher Education uses "chairman" for men and "chairperson" for women. An analysis of the British National Corpus found chairman used 1,142 times, chairperson 130 times and chairwoman 68 times; the National Association of Parliamentarians adopted a resolution in 1975 discouraging the use of “chairperson” and rescinded it in 2017. The Wall Street Journal, The New York Times and United Press International all use "chairwoman" or "chairman" when referring to women, forbid use of "chair" or of "chairperson" except in direct quotations. In World Schools Style debating, male chairs are called "Mr. Chairman" and female chairs are called "Madame Chair"; the FranklinCovey Style Guide for Business and Technical Communication, as well as the American Psychological Association style guide, advocate using "chair" or "chairperson", rather than "chairman".
The Oxford Dictionary of American Usage and Style suggests that the gender-neutral forms are gaining ground. It advocates using "chair" to refer both to women; the Telegraph style guide bans the use of both "Chair" and "Chairperson" on the basis that "Chairman" is correct English. The word chair can refer to the place from which the holder of the office presides, whether on a chair, at a lectern, or elsewhere. During meetings, the person presiding is said to be "in the chair" and is referred to as "the chair". Parliamentary procedure requires that members address the "chair" as "Mr. Chairman" rather than using a name – one of many customs intended to maintain the presiding officer's impartiality and to ensure an objective and impersonal approach. In the United States, the presiding officer of the lower house of a legislative body, such as the House of Representatives, is titled the Speaker, while the upper house, such as the Senate, is chaired by a President. In his 1992 State of the Union address, then-U.
S. President George H. W. Bush used "chairman" for men and "chair" for women. In the British music hall tradition, the Chairman was the master of ceremonies who announced the performances and was responsible for controlling any rowdy elements in the audience; the role was popularised on British TV in the 1960s and 1970s by Leonard Sachs, the Chairman on the variety show The Good Old Days."Chairman" as a quasi-title gained particular resonance when socialist states from 1917 onward shunned more traditional leadership labels and stressed the collective control of soviets by beginning to refer to executive figureheads as "Chairman of the X Committee". Vladimir Lenin, for example functioned as the head of Soviet Russia not as tsar or as president but in roles such as "Chairman of the Council of People's Commissars of the Russian SFSR". Note in particular the popular standard method for referring to Mao Zedong: "Chairman Mao". In addition to the administrative or executive duties in organizations, the chairman has the duties of presiding over meetings.
Such duties at meetings include: Calling the meeting to order Determining if a quorum is present Announcing the items on the order of business or agenda as they come up Recognition of members to have the floor Enforcing the rules of the group Putting questions to a vote Adjourning the meetingWhile presiding, the chairman should remain impartial and not interrupt a speaker if the speaker has the floor and is following the rules of the group. In committees or small boards, the chairman votes along with the other members. However, in assemblies or larger boards, the chairman should vote only when it can affect the result. At a meeting, the chairman only has one vote; the powers of the chairman vary across organizations. In some organizations the chairman has the authority to hire staff and make financial decisions, while in others the chairman only makes recommendations to a board of directors, still others the chairman has no executive powers and is a spokesman for the organization; the amount of power given to the chairman depends on the type of organization, its structure, the rules it has created for itself.
If the chairman exceeds the given authority, engages in misconduct, or fails to perform t
The United Nations is an intergovernmental organization, tasked to maintain international peace and security, develop friendly relations among nations, achieve international co-operation and be a centre for harmonizing the actions of nations. The headquarters of the UN is in Manhattan, New York City, is subject to extraterritoriality. Further main offices are situated in Geneva, Nairobi and The Hague; the organization is financed by voluntary contributions from its member states. Its objectives include maintaining international peace and security, protecting human rights, delivering humanitarian aid, promoting sustainable development and upholding international law; the UN is the largest, most familiar, most internationally represented and most powerful intergovernmental organization in the world. In 24 October 1945, at the end of World War II, the organization was established with the aim of preventing future wars. At its founding, the UN had 51 member states; the UN is the successor of the ineffective League of Nations.
On 25 April 1945, 50 governments met in San Francisco for a conference and started drafting the UN Charter, adopted on 25 June 1945 in the San Francisco Opera House, signed on 26 June 1945 in the Herbst Theatre auditorium in the Veterans War Memorial Building. This charter took effect on 24 October 1945; the UN's mission to preserve world peace was complicated in its early decades during the Cold War between the United States and Soviet Union and their respective allies. Its missions have consisted of unarmed military observers and armed troops with monitoring and confidence-building roles; the organization's membership grew following widespread decolonization which started in the 1960s. Since 80 former colonies had gained independence, including 11 trust territories, which were monitored by the Trusteeship Council. By the 1970s its budget for economic and social development programmes far outstripped its spending on peacekeeping. After the end of the Cold War, the UN shifted and expanded its field operations, undertaking a wide variety of complex tasks.
The UN has six principal organs: the General Assembly. The UN System agencies include the World Bank Group, the World Health Organization, the World Food Programme, UNESCO, UNICEF; the UN's most prominent officer is the Secretary-General, an office held by Portuguese politician and diplomat António Guterres since 1 January 2017. Non-governmental organizations may be granted consultative status with ECOSOC and other agencies to participate in the UN's work; the organization, its officers and its agencies have won many Nobel Peace Prizes. Other evaluations of the UN's effectiveness have been mixed; some commentators believe the organization to be an important force for peace and human development, while others have called the organization ineffective, biased, or corrupt. In the century prior to the UN's creation, several international treaty organizations such as the International Committee of the Red Cross was formed to ensure protection and assistance for victims of armed conflict and strife.
In 1914, a political assassination in Sarajevo set off a chain of events that led to the outbreak of World War I. As more and more young men were sent down into the trenches, influential voices in the United States and Britain began calling for the establishment of a permanent international body to maintain peace in the postwar world. President Woodrow Wilson became a vocal advocate of this concept, in 1918 he included a sketch of the international body in his 14-point proposal to end the war. In November 1918, the Central Powers agreed to an armistice to halt the killing in World War I. Two months the Allies met with Germany and Austria-Hungary at Versailles to hammer out formal peace terms. President Wilson wanted peace, but the United Kingdom and France disagreed, forcing harsh war reparations on their former enemies; the League of Nations was approved, in the summer of 1919 Wilson presented the Treaty of Versailles and the Covenant of the League of Nations to the US Senate for ratification.
On January 10, 1920, the League of Nations formally comes into being when the Covenant of the League of Nations, ratified by 42 nations in 1919, takes effect. However, at some point the League became ineffective when it failed to act against the Japanese invasion of Manchuria as in February 1933, 40 nations voted for Japan to withdraw from Manchuria but Japan voted against it and walked out of the League instead of withdrawing from Manchuria, it failed against the Second Italo-Ethiopian War despite trying to talk to Benito Mussolini as he used the time to send an army to Africa, so the League had a plan for Mussolini to just take a part of Ethiopia, but he ignored the League and invaded Ethiopia, the League tried putting sanctions on Italy, but Italy had conquered Ethiopia and the League had failed. After Italy conquered Ethiopia and other nations left the league, but all of them realised that they began to re-arm as fast as possible. During 1938, Britain and France tried negotiating directly with Hitler but this failed in 1939 when Hitler invaded Czechoslovakia.
When war broke out in 1939, the League closed down and its headquarters in Geneva remained empty throughout the war. The earliest concrete plan for a new world organization began under the aegis of the U. S. State Department in 1939; the text of the "Declaration by United Nations" was drafted at the White House on December 29, 1941, by President Franklin D. Roosevelt, Prime Minister Winston Churchill, Roosevelt aide Harry Hopkins
A public company, publicly traded company, publicly held company, publicly listed company, or public limited company is a corporation whose ownership is dispersed among the general public in many shares of stock which are traded on a stock exchange or in over the counter markets. In some jurisdictions, public companies over a certain size must be listed on an exchange. A public company can be unlisted. Public companies are formed within the legal systems of particular nations, therefore have national associations and formal designations which are distinct and separate. For example one of the main public company forms in the United States is called a limited liability company, in France is called a "society of limited responsibility", in Britain a public limited company, in Germany a company with limited liability. While the general idea of a public company may be similar, differences are meaningful, are at the core of international law disputes with regard to industry and trade. In the early modern period, the Dutch developed several financial instruments and helped lay the foundations of modern financial system.
The Dutch East India Company became the first company in history to issue bonds and shares of stock to the general public. In other words, the VOC was the first publicly traded company, because it was the first company to be actually listed on an official stock exchange. While the Italian city-states produced the first transferable government bonds, they did not develop the other ingredient necessary to produce a fledged capital market: corporate shareholders; as Edward Stringham notes, "companies with transferable shares date back to classical Rome, but these were not enduring endeavors and no considerable secondary market existed." The securities of a publicly traded company are owned by many investors while the shares of a held company are owned by few shareholders. A company with many shareholders is not a publicly traded company. In the United States, in some instances, companies with over 500 shareholders may be required to report under the Securities Exchange Act of 1934. Public companies possess some advantages over held businesses.
Publicly traded companies are able to raise funds and capital through the sale of shares of stock. This is the reason publicly traded corporations are important; the profit on stock is gained in form of capital gain to the holders. The financial media and the public are able to access additional information about the business, since the business is legally bound, motivated, to publicly disseminate information regarding the financial status and future of the company to its many shareholders and the government; because many people have a vested interest in the company's success, the company may be more popular or recognizable than a private company. The initial shareholders of the company are able to share risk by selling shares to the public. If one were to hold a 100% share of the company, he or she would have to pay all of the business's debt; this increases asset liquidity and the company does not need to depend on funding from a bank. For example, in 2013 Facebook founder Mark Zuckerberg owned 29.3% of the company's class A shares, which gave him enough voting power to control the business, while allowing Facebook to raise capital from, distribute risk to, the remaining shareholders.
Facebook was a held company prior to its initial public offering in 2012. If some shares are given to managers or other employees, potential conflicts of interest between employees and shareholders will be remitted; as an example, in many tech companies, entry-level software engineers are given stock in the company upon being hired. Therefore, the engineers have a vested interest in the company succeeding financially, are incentivized to work harder and more diligently to ensure that success. Many stock exchanges require that publicly traded companies have their accounts audited by outside auditors, publish the accounts to their shareholders. Besides the cost, this may make useful information available to competitors. Various other annual and quarterly reports are required by law. In the United States, the Sarbanes–Oxley Act imposes additional requirements; the requirement for audited books is not imposed by the exchange known as OTC Pink. The shares may be maliciously held by outside shareholders and the original founders or owners may lose benefits and control.
The principal-agent problem, or the agency problem is a key weakness of public companies. The separation of a company's ownership and control is prevalent in such countries as U. K and U. S. In the United States, the Securities and Exchange Commission requires that firms whose stock is traded publicly report their major shareholders each year; the reports identify all institutional shareholders, all company officials who own shares in their firm, any individual or institution owning more than 5% of the firm's stock. For many years, newly created companies were held but held initial
Institute of Chartered Secretaries and Administrators
ICSA: The Governance Institute is a professional body that certifies company secretaries through examination and post qualifications programmes. It has three membership grades: GradICSA for members that pass the exams, Associate for higher level members and Fellow for more senior members, it has 37,000 members and was founded in 1891. The Institute was granted a Royal Charter in 1902. ICSA is one of eleven professional bodies whose members are allowed by the Charities Act 2011 to conduct independent examination of charities whose gross income exceeds £250,000 but is not otherwise subject to statutory audit. Institute of Business Administration and Management Chartered Secretaries New Zealand Governance Institute of Australia ICSA Official Site
The United Kingdom the United Kingdom of Great Britain and Northern Ireland, sometimes referred to as Britain, is a sovereign country located off the north-western coast of the European mainland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, many smaller islands. Northern Ireland is the only part of the United Kingdom that shares a land border with another sovereign state, the Republic of Ireland. Apart from this land border, the United Kingdom is surrounded by the Atlantic Ocean, with the North Sea to the east, the English Channel to the south and the Celtic Sea to the south-west, giving it the 12th-longest coastline in the world; the Irish Sea lies between Great Ireland. With an area of 242,500 square kilometres, the United Kingdom is the 78th-largest sovereign state in the world, it is the 22nd-most populous country, with an estimated 66.0 million inhabitants in 2017. The UK is constitutional monarchy; the current monarch is Queen Elizabeth II, who has reigned since 1952, making her the longest-serving current head of state.
The United Kingdom's capital and largest city is London, a global city and financial centre with an urban area population of 10.3 million. Other major urban areas in the UK include Greater Manchester, the West Midlands and West Yorkshire conurbations, Greater Glasgow and the Liverpool Built-up Area; the United Kingdom consists of four constituent countries: England, Scotland and Northern Ireland. Their capitals are London, Edinburgh and Belfast, respectively. Apart from England, the countries have their own devolved governments, each with varying powers, but such power is delegated by the Parliament of the United Kingdom, which may enact laws unilaterally altering or abolishing devolution; the nearby Isle of Man, Bailiwick of Guernsey and Bailiwick of Jersey are not part of the UK, being Crown dependencies with the British Government responsible for defence and international representation. The medieval conquest and subsequent annexation of Wales by the Kingdom of England, followed by the union between England and Scotland in 1707 to form the Kingdom of Great Britain, the union in 1801 of Great Britain with the Kingdom of Ireland created the United Kingdom of Great Britain and Ireland.
Five-sixths of Ireland seceded from the UK in 1922, leaving the present formulation of the United Kingdom of Great Britain and Northern Ireland. There are fourteen British Overseas Territories, the remnants of the British Empire which, at its height in the 1920s, encompassed a quarter of the world's land mass and was the largest empire in history. British influence can be observed in the language and political systems of many of its former colonies; the United Kingdom is a developed country and has the world's fifth-largest economy by nominal GDP and ninth-largest economy by purchasing power parity. It has a high-income economy and has a high Human Development Index rating, ranking 14th in the world, it was the world's first industrialised country and the world's foremost power during the 19th and early 20th centuries. The UK remains a great power, with considerable economic, military and political influence internationally, it is sixth in military expenditure in the world. It has been a permanent member of the United Nations Security Council since its first session in 1946.
It has been a leading member state of the European Union and its predecessor, the European Economic Community, since 1973. The United Kingdom is a member of the Commonwealth of Nations, the Council of Europe, the G7, the G20, NATO, the Organisation for Economic Co-operation and Development and the World Trade Organization; the 1707 Acts of Union declared that the kingdoms of England and Scotland were "United into One Kingdom by the Name of Great Britain". The term "United Kingdom" has been used as a description for the former kingdom of Great Britain, although its official name from 1707 to 1800 was "Great Britain"; the Acts of Union 1800 united the kingdom of Great Britain and the kingdom of Ireland in 1801, forming the United Kingdom of Great Britain and Ireland. Following the partition of Ireland and the independence of the Irish Free State in 1922, which left Northern Ireland as the only part of the island of Ireland within the United Kingdom, the name was changed to the "United Kingdom of Great Britain and Northern Ireland".
Although the United Kingdom is a sovereign country, Scotland and Northern Ireland are widely referred to as countries. The UK Prime Minister's website has used the phrase "countries within a country" to describe the United Kingdom; some statistical summaries, such as those for the twelve NUTS 1 regions of the United Kingdom refer to Scotland and Northern Ireland as "regions". Northern Ireland is referred to as a "province". With regard to Northern Ireland, the descriptive name used "can be controversial, with the choice revealing one's political preferences"; the term "Great Britain" conventionally refers to the island of Great Britain, or politically to England and Wales in combination. However, it is sometimes used as a loose synonym for the United Kingdom as a whole; the term "Britain" is used both as a synonym for Great Britain, as a synonym for the United Kingdom. Usage is mixed, with the BBC preferring to use Britain as shorthand only for Great Britain and the UK Government, while accepting that both terms refer to the United K