What’s a chief operating officer?
Also known as the chief operations officer, the chief working officer (COO) is a C-suite executive position, often considered second in command to the chief executive officer (CEO). Because the title suggests, she is responsible for the each day operations of a business, supervising all or most facets of the corporate’s procedures and plans. Depending on the group, the COO may be tasked with managing issues together with marketing, monetary development and development, sales, research, and personnel.
Role and performance of a COO
The position of the COO is usually misunderstood, largely because her responsibilities can range vastly depending on the organization, what need the organization is trying to meet, and other positions that exist within the business. For instance, if an organization has a CMO, the COO will probably deal less directly with marketing responsibilities.
Essentially, the COO acts as a supervisor and leader, guaranteeing that the group and staff are carrying out the vision of the CEO. We will delve into how the COO features in relation to the CEO in additional element below.
The key responsibilities of a COO include:
• Analyzing the effectiveness of business strategies
• Discovering ways to improve strategies and grow the business operationally
• Supervising staff and dealing with issues with personnel
• Developing growth initiatives
• Growing and implementing methods for assembly company benchmarks and goals
As you may see, the COO wears many alternative hats—which again may fluctuate in accordance with the wants of the company—however in the end acts as a problem solver.
What’s the difference 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, speaking with stakeholders, investors, and the general public, and making major selections 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?
Normally, the CEO is the highest-ranking official within a business. Other C-suite executives, comparable to COO, CFO (chief financial officer), CTO (chief technology officer), CMO (chief marketing officer), CIO (chief data officer), and others typically report to the CEO, although this shouldn’t be always the case.
While the COO is usually considered second in command, the standing really depends upon the nature and inside-workings of the company. All C-suite executives are essentially the most senior-level managers of their space of experience, and sometimes, these executives are peers. Many firms also mix the COO role with another C-level function. For instance, the COO may also be accountable for marketing efforts.
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