What do Chief Operating Officers do?

A Chief Operating Officer would typically need to:

• Assist the organisation in carrying out long-term and short-term plans and directions by the use of judgement, vision, management, and leadership.
• Examine strategies to improve both internal and external operational procedures while monitoring their efficacy.
• Establish, devise, and implement business strategies, plans, and procedures in order to achieve overall performance and growth.
• Create and implement policies that promote the company’s culture and vision.
• Appoint, lead, and supervise the daily operations of the organisation as well as the work of department heads and managers in order to encourage maximum performance and dedication.
• Evaluate performance by analysing and evaluating data and metrics such as revenue, efficiency, and even waste snapshots.
• Establish a structure for employee wages and benefits; ensure that staff feel appreciated.
• Manage relationships with partners/vendors; act as a quality assurance liaison between the company and the client
• Mentor all employees, including management; collaborate with the human resources department to attract and retain qualified people
• Collaboration with operations managers to ensure that all departments have adequate resources and processes for proper employee training.
• Collaborate with company analysts to examine physical assets and how they may be maintained, repaired, or upgraded.
• Inform the board of directors and other company officers of new ideas and cash flow plans.
• Encourage communication among coworkers to ease information flow and prevent problems from arising.
• In all topics of importance, write and submit reports to the Chief Executive Officer; aid in fundraising ventures; and participate in expansion activities such as acquisitions.
• Contracts and agreements must be negotiated or approved.

Standard Work Environment

Chief Operating Officers work from comfortable offices and occasionally attend meetings in conference rooms. They spent some of their time communicating with the CEO and important staff members, and some of their time alone at their laptops. They frequently travel to conferences, meetings, and various business units within their firm. Unless otherwise noted, the typical dress code is business formal.

Work Schedule

CEOs frequently work long hours, including evenings and weekends. COOs are recommended to dress in accordance with the expectations of their clients.

Employers

Chief Operating Officers can be found in almost any sector. They work for both small and large enterprises, from sole proprietorships to corporations with hundreds of thousands of employees.

COOs are generally employed by:

• Professional, Scientific & Technical Services
• Wholesale Trade Concerns
• Manufacturing Concerns
• Retail Trade Concerns
• Construction Companies

Unions / Professional Organizations

Professional associations and organisations are a valuable resource for Chief Operating Officers who want to further their professional development or network with other professionals in their industry or career. Membership in one or more of these organisations looks great on your resume and helps to strengthen your credentials and qualifications.

Workplace Challenges

• Immensely stressful because of the myriad of challenges, responsibilities, and expectations
• Jobs in jeopardy due to poorly performing organizations or departments
• Frequent travel to attend meetings and conferences or to visit the company’s other offices
• Less time for personal commitments

Suggested Work Experience

Many Chief Operating Officers have previously served as Directors or Managers within a company and are expected to have experience in the speciality area of the organisation. A prospective COO will require substantial practical experience. Many top executives advance inside their company, rising from lower-level management or supervisory positions. Fundraising experience is preferred.

Recommended Qualifications

If you have five to fifteen years of expertise in the area, an online short course from a world-class university may be able to provide you with the operations management credential you need to advance to a senior leadership position.

Most Chief Operating Officers have extensive educational backgrounds in business and management, often with graduate degrees.

Certifications, Licenses and Registration

Certification from an objective and reputable organisation can assist a Chief Operating Officer in standing out in a competitive job market, validating and expanding your knowledge in a certain area, and assisting you in becoming an independent consultant.

Successful certification programmes also promote and increase the visibility of a Chief Operating Officer and provide companies with a baseline against which to evaluate staff applicants.

Projected Career Map

In the future, 40% of present Chief Operating Officers envisage themselves becoming Chief Executive Officers or Managing Directors. 53 percent of C-suite employees predict the COO will become CEO within the next five years.

However, not every COO aspires to be CEO; 30% of COOs polled saw their current job as a destination in and of itself.

Job Prospects

Job opportunities for top executives are expected to be competitive. The high compensation and prestige associated with these professions attract a large number of skilled candidates. Those with a master’s degree and substantial management experience will have the finest work opportunities.

Beneficial Professional Development

Company training programmes and executive development programmes can frequently aid Managers or Executives aspiring to the post of Chief Operating Officer.

Whatever your ultimate goal, the key to progressing on this career path is to learn how diverse components of the organisation function together as a business, which may entail rotating through different job responsibilities. Over the course of 10 to 20 years working in large corporate organisations, you must develop a diverse set of business abilities and expertise.

Working across departments will allow you to view all areas of the business and understand how they may be improved.

Conclusion of Chief Operating Officer

There is no single agreed-upon description of, or even name for the Chief Operating Officer’s position. Unlike other roles, which are defined primarily by the work to be done and the organisational structure, the COO’s role is defined in connection to the CEO as an individual. Individuals who are confident in their talents are required to do full honour to the unique and extremely difficult job of a COO, even as others wait for a role of greater significance.

Advice from the Wise

Leadership does not involve either bullying or hostility. The assumption of leadership is that you can use your voice for good…that you can make the world a better place.

Explore Also: How to Become a Chief Executive Officer