Business Operations Management
The formal education and experience required by top executives vary as widely as their responsibilities do, but many of these workers have at least a bachelor's degree and considerable experience.
Many top executives have a bachelor's or graduate degree in business administration, liberal arts, or a more specialized discipline. The specific degree required often depends on the type of organization for which they work. College presidents, for example, typically have a doctorate in the field in which they originally taught, and school superintendents often have a master's degree in education administration. A brokerage office manager needs a strong background in securities and finance, and department store executives generally have extensive experience in retail trade.
Some top executives in the public sector have a background in public administration or liberal arts. Others might have a more specific background related to their jobs. For example, a health commissioner might have a graduate degree in health services administration or business administration.
Many top executive positions are filled from within the organization by promoting experienced, lower-level managers when an opening occurs. In industries such as retail trade or transportation, for instance, it is possible for individuals without a college degree to work their way up within the company and become managers. However, many companies prefer that their top executives have extensive managerial experience and, therefore, hire individuals who have been managers in other organizations.
Top executives must have highly developed personal skills. An analytical mind able to quickly assess large amounts of information and data is very important, as is the ability to consider and evaluate the relationships between numerous factors. Top executives also must be able to communicate clearly and persuasively. For managers to succeed they need other important qualities as well, including leadership, self-confidence, motivation, decisiveness, flexibility, sound business judgment, and determination.
Advancement may be accelerated by participation in company training programs that impart a broader knowledge of company policy and operations. Managers also can help their careers by becoming familiar with the latest developments in management techniques at national or local training programs sponsored by various industry and trade associations. To facilitate their promotion to an even higher level, managers who have experience in a particular field, such as accounting or engineering, may attend executive development programs geared towards their background.
Participation in conferences and seminars can expand knowledge of national and international issues influencing the organization and can help the participants develop a network of useful contacts. For example, the Institute of Certified Professional Managers offers the Certified Manager (CM) credential, which is earned by completing training and passing an exam. The certification is held by individuals at all experience levels, from those seeking to enter management to those who are already senior executives. Certification is not necessary for advancement but may be helpful in developing and demonstrating valuable management skills.
General managers may advance to a top executive position, such as executive vice president, in their own firm or they may take a corresponding position in another firm. They may even advance to peak corporate positions such as chief operating officer or chief executive officer. Chief executive officers often become members of the board of directors of one or more firms, typically as a director of their own firm and often as chair of its board of directors. Some top executives establish their own firms or become independent consultants.
