What is a chief operating officer?
Additionally known as the chief operations officer, the chief operating officer (COO) is a C-suite executive position, usually considered second in command to the chief executive officer (CEO). Because the title suggests, she is chargeable for the daily operations of a enterprise, supervising all or most elements of the corporate’s procedures and plans. Depending on the organization, the COO may be tasked with managing issues including marketing, monetary progress and development, sales, research, and personnel.
Position and performance of a COO
The function of the COO is often misunderstood, largely because her responsibilities can range tremendously depending on the organization, what want the organization is attempting to fulfill, and other positions that exist within the business. For instance, if a corporation has a CMO, the COO will probably deal less directly with marketing responsibilities.
Essentially, the COO acts as a supervisor and leader, ensuring that the organization and workers are finishing up the vision of the CEO. We will delve into how the COO capabilities in relation to the CEO in further element below.
The key responsibilities of a COO embrace:
• Analyzing the effectiveness of enterprise strategies
• Finding ways to improve strategies and develop the business operationally
• Supervising employees and dealing with issues with personnel
• Developing development initiatives
• Creating and implementing strategies for meeting firm benchmarks and goals
As you possibly can see, the COO wears many various hats—which again may range in keeping with the wants of the corporate—but ultimately acts as a problem solver.
What’s the distinction between CEO and COO?
The CEO is mostly the highest-ranking officer of an organization. Ultimately, the responsibility for creating plans and strategy for development, communicating with stakeholders, buyers, and the general public, and making main decisions rests on her shoulders.
Meanwhile, the COO carries out the plans as directed by the CEO and oversees the day-to-day operations of the business.
Is COO higher than CFO, CTO, CMO, CIO, or other C-level executives?
Typically, the CEO is the highest-ranking official within a business. Other C-suite executives, such as COO, CFO (chief financial officer), CTO (chief technology officer), CMO (chief marketing officer), CIO (chief info officer), and others usually report to the CEO, although this is just not always the case.
While the COO is often considered second in command, the standing really relies on the character and internal-workings of the company. All C-suite executives are the most senior-level managers of their space of expertise, and infrequently, these executives are peers. Many companies also combine the COO role with another C-level function. For instance, the COO may also be answerable for marketing efforts.
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