Introduction
A Chief operating officer is considered as a responsible duty one can do for his company. As every task has its force and the main head to operate it, the COO is asked to do it. The COO is one of the vital pillars to functionalize and maintain the company.
To become the COO, an individual must go through who is COO, its working, the types of COOs and most importantly, the role of a Chief Operating Officer.
Who is the COO?
There are multiple corporations where the COO is also addressed as “executive vice president of the operations.” Also, “chief operations officer,” or “operations director” are some given names to address a COO.
The COO executes the senior tasks being given throughout the necessity being requested. The tasks asked of a COO to oversee the day-to-day administrative and operational business functions.
As per the CEO’s preference, the COO should often handle the task given at the time. It includes internal affairs while the CEO handles the social face of the company.
COO is expected to be skillful among strong analysis, management skills, communication skills and leadership skills. However, leadership skills remain the most crucial of all. There are usually seven different types of COOs, considered to be well suited among different companies.
COO’s Working
As the COO commands many employees under his position. The main focus of a COO is to execute the company’s business strategy while analyzing the established business model, as the CEO is often concerned about long-term targets and the broader outlook of the company.
In a way to say that, the CEO creates the plans meanwhile COO carries it out. Even if a company loses its market share, the CEO asks for an increase in control of quality. To maintain its reputation among the clients, it is a requirement to be done.
In a situation like that, the COO must carry out CEO’s order; while also giving guidance to the human resources department to improve the quality control personnel.
The COO’s Role
The COO most probably handles the company’s internal affairs despite the face of the company. The COO remains the main link towards holding a company.
As looking upon the CEO’s preference dependence, the COO is chosen to perform the skill sets of the sitting CEO. If an entrepreneurial situation occurs, the COO stands out to be more experienced than the CEO.
The COO might come up with a brilliant concept but misses the skill set to start up a company and manage its new stages while the company develops.
The COOs design operation strategies more consequently, communicate policies to its employees and assist the human resources (HR) to create new core teams.
Types of COOs:
A new company will have different requirements than a company that is stabilized for over 100 years. This has a large market among the industrial business since every company struggles between its different growth stages.
There are a total of seven types of COOs among the workings, which are:
– “The executor,” which overlooks the process of company strategies created by the senior management. This carries the duty of displaying results each day on quarter to quarter basis.
– “The change agent,” innovates some new initiatives. This particular COO is called to lead a task towards its target among the requirements.
– “The mentor,” the person being hired, is required to counsel new younger team members, specifically young CEOs.
– “An MVP,” the person who is being promoted internally to make sure that their company doesn’t fall against a rival company.
– “The COO” is the one who mainly performs tasks under the CEO with opposite characteristics and abilities as the CEO.
– “The partner,” the following COO type is being brought as another version of the CEO.
– “The heir apparent” is the person who becomes the COO to learn under the CEO to take the CEOs position after the current being.
So these are the main types that operate as COO, while the post has many tasks to achieve.
Conclusion
To become the chief operating officer, one must be fully aware of the facts behind the COO. Applying and achieving the role is something that everybody does but, to fulfill the role of what’s been asked of you is something not everybody can accomplish.