The full form of COO is Chief Operating Officer. The day-to-day management and operations of the company are under the responsibility of the COO. The Chief Operating Officer (COO) serves as the CEO’s right-hand man and reports directly to him. In some businesses, the COO also serves as the Executive Vice President of Operations.
The CEO of a company spends far too much time strategizing and managing relationships with customers and other business partners. He is unable to dedicate the necessary time to tasks each day. A COO is therefore required to oversee everyday operations, ensure they are implemented and communicate with the CEO.
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Eligibility Criteria
- A business administration degree or other relevant field is preferred.
- Clearly defined management abilities and competent leadership
- Decision-making and problem-solving skills
- A thorough knowledge of the roles played by organisations’ human resources, advertising, accounting, growth, etc.
- Experience in a related field and a strong track record in positions similar to yours.
Responsibilities of COO
- Putting into practice strategies developed by the CEO and the Board of Directors through teamwork and leadership.
- Monitoring the preparation of company budgets and examining standard business production measures.
- By actively participating in all business choices, you may provide success and foster leadership and ownership.
- Participation in the budget preparation process through the CEO and COO’s active assistance and regular reviews to assess the activity’s progress and challenges.