Competition for top managerial jobs should remain intense due to the large number of qualified applicants and relatively low turnover.
All organizations have specific goals and objectives that they strive to meet.
General managers and top executives devise strategies and formulate policies to ensure that these objectives are met. A corporation's goals and policies are established by the chief executive officer in collaboration with other top executives, who are overseen by a board of directors. In a large corporation, the chief executive officer meets frequently with subordinate executives to ensure that operations are implemented in accordance with these policies. In publicly-held and nonprofit corporations, the board of directors is ultimately accountable for the success or failure of the enterprise, and the chief executive officer reports to the board. The nature of other high level executives' responsibilities depends upon the size of the organization.