The full form of COO is Chief Operating Officer. The COO handles the day-to-day management and operations of the company or an organisation. The COO serves as the right-hand to the Chief Executive Officer (CEO) and directly reports to the CEO. In a few businesses, the COO also serves as an Executive Vice President of Operations. The COO invests its time strategising and managing customer relationships and relations with other business partners. They oversee everyday operations and ensure their effective implementation and communicate with the CEO.
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What are the Responsibilities of a COO?
The following are the responsibilities of a COO:
- The COO is responsible for putting into practice the strategies that the CEO and Board of Directors developed through teamwork and leadership
- They monitor and prepare the company budget and examine the standard business production measures
- They also foster leadership and ownership to provide success by actively participating in all business choices
- The COO participate in the budget preparation process through the CEO and provides assistance with regular reviews to assess the progress of the activity and challenges
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What are the Eligibility Criteria to Become a COO?
The following are the eligibility criteria to become a COO:
- An individual is required to have a degree in business administration or any other related field
- Must have defined management skills and leadership capabilities
- The candidate must have decision-making and problem-solving qualities
- A proficient COO must have knowledge of various sectors of the organization and its functioning like human resources, accounting, advertising and growth
- Must have a work experience in the related field with a strong track record in the similar position
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