WHY DOES EVERYONE ALWAYS BLAME THE CEO'S FOR REAL/PERCEIVED PROBLEMS IN THE BUSINESS WORLD?

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WHY DOES EVERYONE ALWAYS BLAME THE CEO'S FOR REAL/PERCEIVED PROBLEMS IN THE BUSINESS WORLD?

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ethics : WHY DOES EVERYONE ALWAYS BLAME THE CEO'S FOR REAL/PERCEIVED PROBLEMS IN THE BUSINESS WORLD?

[+] ballot by CletuSlackedJawYokel
created Thu Jul 14, 05
In publicly owned companies, which virtually all large companies are, the Board of Directors has more power than the CEO, and the CEO is placed in charge of seeing that the Board's goals are achieved. He or she would not keep the job if they weren't acting in the interests of the Board of Directors, which has the power to hire/fire him or her. Is this a big misconception that you have noticed?

Yes
CEOs are figureheads charged with a $$ directive
Because they are overpaid for what they do
Because they have responsibility/power
They need a skapegoat and they are jealous.

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COMMENTS:
Bubba, no they are not. I'm not supporting CEO's here, but they have a skill that virtually nobody else has. Same as entertainers and athletes, who are the best in the world at what they do. The market determines that pay.

by CletuSlackedJawYokel on Thu Jul 14, 05 2:06pm [+]

Comes with the job. The board of directors and the CEO know who and what they are. It's the way things work. Every organization needs a frontman (a Mick Jagger)--someone with charisma, someone whose image fits the company. Owners are the foundation of any corporation, but every organization needs a quaterback. Unfortunately the CEO is often the scapegoat--but that's why he or she gets the big bucks.

by elvislennon on Thu Jul 14, 05 2:17pm [+]

Someone has to take responsibility, thats why they make the big bucks.

by ABC on Thu Jul 14, 05 2:18pm [+]

I agree with you, elvis and abc. However, it still doesn't make sense or seem fair to blame the quarterback (in the example elvis gave) for the coaches bad play-calling if that was the problem.

by CletuSlackedJawYokel on Thu Jul 14, 05 2:20pm [+]

Yep. The "Mick Jaggers" of the corporate world take the hit in the event of any fallout.

by Paradoxical on Thu Jul 14, 05 2:30pm [+]

Cletus: What you assert was true, at one time. However, one major problem has been rank collusion. Who are the members of the average Board? Answer: Other CEOs!

As Boards of Directors became more inbred over the past decade or two, more and more collusion crept in (i.e., You vote me a raise and I'll vote you one.)

The myth of the CEOs "unique skill sets" has been firmly entrenched. Unfortunately, the average CEO gets his position due to how well he/she is connected -- not on their merit. Witness the number of companies with absolutely disastrous results ... who still vote their CEOs huge bonuses.

CEO pay and CEO compensation have been growingly disconnected, in the past years.

by Cathexis on Thu Jul 14, 05 3:34pm [+]

Sorry: Meant to say CEO performance and compensation.

by Cathexis on Thu Jul 14, 05 3:35pm [+]

They have power and responsibility. If you are going to get the big (enormous) bucks then you ought to expect the criticism

by FiddleFaddleOnLSD on Thu Jul 14, 05 4:41pm [+]

Why would someone pay someone else millions of dollars, just because they are "well connected".

by eoganan on Thu Jul 14, 05 5:31pm [+]

eogana: It is the GOB -- the Good Ol' Boy network.

by Cathexis on Thu Jul 14, 05 6:45pm [+]

Generally its because a great many of them are greedy liars who don't deserve thier jobs and don't earn the money they are paid.

by patch22us on Thu Jul 14, 05 11:24pm [+]

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