Chief Operating Officer (COO) is an individual who is in charge of planning, directing and overseeing the organization’s operational rules and policies, and also its initiatives and aims. A Chief Operating Officer assists the organization to implement its long and short term plans and policies through his leadership, good judgment and management skills.
COO is a very important and senior member of any organization’s management team and is accountable only to company’s Chief Executive Officer. The main function of a COO is to make sure there if full functionality in business operations for its sustainable expansion.
Basic roles, duties & responsibilities of COO
So, what does a COO do? Learn the basic roles, duties & responsibilities of Chief Operating Officers here:
- Formulate and implement business plans and strategies
- Set goals for company’s growth and betterment
- Supervise day to day operations of company
- Assess performance of employees
- Assist CEO in different fundraising operations
- Manage rapport with other parties and partners
- Coordinate and recruit human resources
- Assess newly implemented marketing plans
Given the seniority of the position, a COO has to perform wide variety of jobs to ensure smooth operation and management of company. The duties and responsibilities vary largely from organization to organization.
Employers of Chief Operating Officer
- Banks and financial institutions
- Public Organizations
- Hospital and private clinics
- Educational institutes
- Corporate businesses
- Charity Organizations
Virtually all organizations need a Chief Operating Officer for successful operation of the organization and to materialize opportunities to congeal its market position.
Qualification and Training
To become a COO, the qualifications that will mostly be required comprises of the four years college education, in the relevant field that they want to enter. Individuals may pursue Master of Business Administration (MBA) or other related post-graduate degree qualification. These sorts of degrees can be undertaken alongside some relevant work. One can also pursue these degrees after gaining some work experiences as well. Students can study part time and work part time to apply the practical knowledge into their studies. This also gives them fair amount of experience and prepares for their proper entry in the field.
An individual must acquire some experience in the relevant field before aspiring to be a COO. Since COOs have to provide track and strategies to a business, they must be proficient enough to recognize risks and opportunities. High level managerial experience is required so that the individual has good experience of managing and supervising.
Required skills or job specifications for COOs
The position of Chief Operating Officers is not as fancy as it may seem. There are many vital responsibilities and duties one must perform to drive the organization in right direction. Some skills one must require to become a competent Chief Operating Officer are:
- Good communication and interpersonal skills
- Good Bargaining skills
- Ability to build good relationships
- Ability to work under pressure
- Strong influencing personality
- Ability to inspire
- Strong leadership skills
- Problem solving abilities
- Good judgment