What is the full form of COO?
The full form of COO is Chief Operating Officer. The COO is in control of the corporation’s day to day administration and running. The COO directly reports to the CEO (Chief Executive Officer) and is regarded as his right-hand. The COO is also recognized for being the Executive Vice President of Operations in some companies.
A company’s CEO is too engaged in strategic planning and the management of relations with both clients and other trading partners. He can’t commit sufficient time to tasks every day. Thus, a COO is needed who will monitor and ensure daily operations are enforced and connect to the CEO.
- A degree in business administration or related sector is preferred
- Clear management skills and professional leadership
- Problem-solving and decision-making abilities
- A good understanding of the positions of organizations such as HR, Ads, Accounting, Growth etc.
- Relevant career experience and excellent track record in similar posts.
Responsibilities of COO
- Implementing approaches built by the CEO and the Board of Directors by team engagement and leadership.
- Supervising the planning of the corporate budgets and reviewing the routine business output indicators.
- Offer success and promote leadership and ownership by actively participating in all company decisions.
- Participation in the production of the budget preparation exercise via the active help of the CEO & COO and their regular review to determine the progress and difficulties faced in the same activity.