What's it like to be a Vice President?
A Vice President is part of the executive management’s support system. They are often the second or third in line after the president or CEO. Vice Presidents oversee the operations of the entire company. They can represent the company, be signatories in contracts and make executive orders for the managers to rank and file employees. As Vice President of a company, the financial responsibilities of the entire company may be included in their job description. Their role is sometimes dependent on arrangements made by the President. Vice Presidents may take on the role of the President of a company if needed.
Tasks and duties
- Building plans for and leading department heads and providing mentorship if needed.
- Studying the company’s state and understanding its strengths and weaknesses while looking for opportunities for growth.
- Ensuring the productivity and cost analysis of the company’s outputs and expenses.
- Identifying objectives and strategies to help the company hit goals and targets.
- Managing relationships with stakeholders and key clients.
- Handling and approving the budget of the departments.
- Representing the President to the board of directors when needed.
- Appearing in local and international forums or gatherings in the industry to represent the company.
How to become a Vice President
To become Vice President, you will need more than ten years of managerial and departmental experience. Vice Presidents of a company should have experience working in the team or area they are leading.
Graduate with a bachelor degree in the industry you would like to work in.
Gain a good reputation in the company. Start with an entry-level position, and gain a minimum of five years of experience to be considered for the management position.
Pursue further studies such as a Master of Business Administration (MBA) or a postgraduate degree in Management.
Take seminars and leadership training from various agencies or institutions to gain executive-level expertise.
Work your way towards a director position to work closely with the executives.
Take on bigger responsibilities to be noticed for the position of Vice President the moment the position opens or an opportunity arises in a different company.