The COO is a title whose responsibilities and position isn’t always clear. Unlike different C-suite roles, the COO has always been a little bit of a mystery. And, there’s a good reason for that. But let’s start with what COO means and what they do.
A COO, is the chief operating officer or chief operations officer. This title is among the high-ranking executive positions and likewise part of the C-suite in an organization. A COO is the second-in-command after the CEO. The COO reports to the CEO and is chargeable for the day-to-day operations of the company. This position is more common at firms which have heavy operational activities reminiscent of manufacturing firms or transport service corporations such as the airlines. The responsibilities of a COO differ depending on the industry as well as the company. And their role adjustments in keeping with the needs of the company.
Which is why, a COO is required to be multifaceted and be adept in varied skills, somewhat than excel in a few. This ensures that they are able to address and remedy many various problems and are able to deal with many different tasks. The COO isn’t one type of person with a sure skailing set. COOs come from varied completely different backgrounds and numerous career progressions experiences. But listed below are just a few skills COOs are usually anticipated to have;
Distinctive leadership and communication skills
An understanding of fundamental business functions like human resources, finance, sales, marketing, etc.
Strategic planning and business development skills
An understanding and knowledge of data evaluation
Distinctive choice-making and problem-fixing skills
Typically a COO is liable for;
Typically a COO is accountable for;
Overlooking points like,
Production
Sales
Marketing
R&D
Each day activities of executives
Implementing processes
Growing and implementing operational and business strategies
Leading change initiatives
Executing the directives of the CEO
Executing and sustaining policies and company culture
Building core groups
Set and achieve firm goals for progress
Evaluating worker and firm efficiency
Now here’s what makes each COO unique and why there isn’t always clarity as to what a COO does. A COO’s job description is basically primarily based on their CEO. The tasks and job at hand is illustrated in relation to their particular CEO. This makes this position situational and really unique.
While a COO has various kinds of responsibilities, there are also numerous kinds of COOs.
Some COOs are supposed to help implement the CEO’s vision.
Some are appointed so as to make that CEO more efficient in their own role.
COO’s are also appointed with the specific directive to ultimately take the CEO’s place.
Some COO’s are introduced in to mentor a youthful CEO-founder who might not have the expertise required for the job.
Most COOs are hired to enrich the CEO’s skunwell set.
Regardless of the position of a COO, it is definite is that the COO and the CEO must work well together. An incredible CEO-COO duo can achieve everything they set out to do.
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