Most companies comprise a wide range of operating groups pursuing different organizational goals. The chief operating officer (COO) - who may also be a vice president - is a top-level executive who helps ensure the success of all of these operations. They perform a number of tasks such as making high-level business decisions, supervising groups of managers, and coordinating all of the organization's operations to maximize profitability. They also make presentations to employees, as well as to the chief executive officer and the organization's board. Chief operating officers typically work in a business setting during regular business hours, although overtime may be required for emerging issues and deadlines. They generally report to the chief executive officer.
The chief operating officer must be a hard-working, detail-oriented individual who has a thorough understanding of their company's goals. The chief operating officer must use all available resources to stay aware of all operations, so as to formulate and execute new strategies as needed. Excellent communications skills are vital, as is a willingness to be cooperative and collaborative; this helps establish relationships with the chief executive officers and the many employees under their supervision.
The minimum educational requirements for this position depending on the size of the company and the scope of the chief operating officer's responsibilities. A bachelor's degree in business, management, or a related field is sufficient for some operations; larger corporations generally expect a master's degree or more. Experience in the field is also required, preferably in a managerial role.
Vice President, Chief Operating Officer (COO) Tasks
- Execute operational strategies to deliver products or services and provide leadership and guidance.
- Manage overall budget and financial policies, and oversee specific reports and forecasts.
- Identify growth and market opportunities.
- Direct, coordinate and evaluate operational teams and product implementation.