In this article, we will delve into the key responsibilities of a COO and explore the skills and attributes needed to excel in this position.
Definition of COO COO Duties and Responsibilities The difference between COO and CEO, CFO, and CMO
7 Key Qualifications to Become a COO
1. Have a Relevant Academic Degree 2. Have extensive work experience and be able to be an agent of change 3. Able to be a mentor or have leadership qualities 4. Be a Balancer and Complement Experience for CEO 5. Able to be a discussion partner for the CEO 6. Able to Become an “Heir” 7. Has Great Potential
Closing
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As explained previously, a person who holds the position of COO is responsible for the company’s administrative and operational functions. In general, some of the COO’s duties are to focus on implementing the company’s business plan in accordance with the established business model. Of course, these duties are very different from the CEO’s duties which focus more on long-term goals and the company’s overall outlook.
In short, the COO has the task of implementing various business plans that have been prepared by the CEO. For example, when a company experiences a decline in sales, the CEO will most likely request increased production quality control and so on. This order must of course be carried out directly by the COO who will convey the chain of instructions to the human resources department, one of which is managing personnel in the quality control division.
The COO position itself is very suitable for those of you who have extensive work experience and quality and have previously served as C-Level . Many companies are in dire need of someone experienced for this executive leadership position. Therefore, many vacancies are opened for operational directors in this company.
In addition, another example of the COO’s duties can be seen when a business product on the market has been widely imitated or many competing products are almost the same. The CEO as the highest office holder will likely request a specific strategy. This strategy will then be submitted to the COO so that it can be implemented through strengthening the research and development division, so as to produce products with new variants.
In a company, the COO is usually responsible for various things that are in the operational realm of the company. A person who holds the position of COO will monitor how the strategy comes from the CEO while overseeing the implementation of the strategy or the development of the company’s operations, starting from the development stage, production, to pre-marketing.
Although they look equal, each position or position held by these C-Levels has its own level or rank. These levels are of course adjusted to the responsibilities and roles in a company.
This can be seen from the existence of strata of instructions or assignments for each position from CEO to CMO. However, in general, the CEO is the highest leader in the company, while the COO, CFO, and CMO are under his responsibility.
Holding the position of operational leader of the company.
Responsible for supervising and making decisions regarding company operations.
Have responsibility to solve company problems through operational areas (communication, collaboration, improvisation, recruitment, operational analysis, and strategy implementation).
Occupying the number two position as the principal senior vice president in the company.
Holding the position of the company’s highest leader.
Responsible for making decisions and general strategies for the company.
Have general responsibility in the company, both the strengths and weaknesses of the company.
Occupying the main position as president/chief director of a company.
Holds the position of company finance manager.
Responsible for supervising planning and all financial administration of the company.
Have responsibility for finance and accounting functions in the company, supervision of staff related to finance, and understanding applicable tax regulations.
Occupying the position of senior vice president in the company (financial affairs).
Holding the position of marketing manager for the company.
Responsible for overseeing the planning and marketing process of the company’s products.
Have responsibility for market analysis, marketing processes, and marketing strategy collaboration with operational leaders.
Have the ability to understand market opportunities and potential, as well as existing risks.
Occupying the position of senior vice president in the company (marketing affairs).
As the second highest position in a company after the CEO, the Chief Operating Officer is considered one of the highest positions for someone to achieve in the world of work or a company. Someone who can achieve this position is known to have high competitiveness and adequate capacity in their professional career.
According to Harvard Business Review and career advice from Seek Australia, there are 7 main qualifications that must be possessed by someone to be able to become a Chief Operating Officer (COO) in a company. Some of them are as follows:
The first qualification is of course a relevant or appropriate academic degree, so that it can be the basis for a COO’s qualifications. Although not everyone who holds the position of COO has a relevant academic degree. However, for those of you who have a dream of becoming a COO, it is highly recommended to have a qualified educational base.
Relevant academic degrees are not only those that are always related to business economics or Master of Business Administration (MBA). Several other degrees are also required, as long as they have high enough relevance to the company’s operations.
For example, the top leader in a pharmaceutical business or hospital. The required degree is usually related to medical matters or hospital management. A relevant degree will greatly support a COO to be able to better understand every complexity that occurs in his work.
Not only that, higher education and relevant ones can also help a COO in implementing or implementing various companies easily and precisely. As a position that is responsible for all forms of implementation, COO means that he must be willing and able to take various risks related to the company’s operations. In addition, implementing a strategy is part of a step in maintaining the quality of the company’s business itself.
In accordance with a wise saying, “the best teacher is experience”. As someone who occupies the second highest position in the company, the COO must of course have extensive work experience. Not only that, this extensive work experience must also be balanced with qualified abilities and capacities. Extensive work experience and qualified capacities are proof that someone can make a significant contribution to the company.
The time required for someone to reach the COO level is usually 10 years of work in an equivalent position below it. Not only that, the relevance of the work done during this 10-year period can make the experience of a prospective COO more complete and solid.
As written above, a COO is required to have extensive work experience. This ability is a benchmark that a COO must have when occupying C-Level in the company. In addition, a COO is usually also needed to be a mentor for young CEOs or even a company founder who is not too experienced.
As a mentor, a COO can be said to have the responsibility to be an elegant character and not closed to others. Although having the task of being a mentor, it does not mean that the COO is free to do whatever he wants to his subordinates. This step is usually used by several CEOs of a new company to gain experience through COOs from similar industries or businesses.
It is common that one of the reasons companies bring in a senior COO is not only as a mentor, but also as a counterbalance to the CEO. This counterbalance function itself can also be said to complement a CEO’s experience in the company.
CEOs usually need a COO with this qualification so that they do not appear to be walking alone or get a calmer co-worker, so that they can be a balance in various decisions or activities.
Harvard Business Review stated that various large companies in the world, such as Microsoft, also need COOs with such qualifications. Bill Gates once had two COOs who were needed as a balance for himself.
The two men are Jon Shirley and Michael Hallman to balance him. Some say that Shirley and Hallman are the balance and the “calm” side of Bill Gates. In the case of this company, a COO is basically not directed towards the CEO position.
In a company, the CEO can be likened to a brain or center that carries out control. As someone who holds the highest position, the CEO still needs a discussion partner or interlocutor for strategy and problem solving issues. Hierarchically, one of the positions that must be a discussion partner in solving various operational problems of the company is the COO.
Therefore, a COO must also have the qualifications as a partner for the CEO. In this case, the COO is required to be able to give feedback to the CEO for all his thoughts related to the company, both practical and psychological. This is because being a CEO is a big responsibility that is very risky. The role of the COO is needed to minimize risk by opening discussions, both formally and informally to develop the company.
It is not surprising that COO is often referred to as the second position in a company, after CEO. One of the most important responsibilities of qualifying as a COO is being the “Heir Apparent”. The meaning of “Heir” itself is that the COO must be ready to “inherit” the company if the CEO wishes so.
The role of the COO who is second in the company hierarchy is indeed very potential for this kind of inheritance. For a COO, becoming the “Heir” of the CEO is the final stage of promotion.
Although it seems that there is a very big potential for a COO to rise to become a CEO. However, the COO must also be prepared for the big risks that are waiting ahead. Some things that are needed to face this are of course self-preparation, both mentally and physically.
Serving as a CEO can certainly drain a lot of thought and time, just like the way a CEO solves problems or creates strategies that are also tiring. Therefore, one of the things that a COO needs to learn and prepare when getting a promotion is being able to solve problems and create strategies.
The great potential of a COO is expected to be a personal selling point for the company. The last qualification that needs to be possessed to become a COO is great potential. A COO is expected to have great potential so that it can be a personal selling point for the company. Some observers believe that a prospective COO must have the best and most valuable potential to be wasted.
So, it is not surprising that some companies give promotions to people with extensive experience and who have been in the top senior manager ranks and have played a very good role.
Someone who has high bargaining power and selling value is usually an employee with a senior level and has been proven to be very familiar with the ins and outs of the company. In addition, the company will think hundreds of times to release someone with great potential and competence from the company. With the departure of someone with great potential, it will be very potential to become a competitor.
This is certainly very much avoided, one of which is by giving a promotion to the senior employee, so that he sits in the position of COO. The appointment of a senior employee with achievements as COO will certainly make the future of the company more secure and the CEO does not need to be confused about getting balanced co-workers.
Closing If you listen to the review above, the position of COO can be said to be an achievement that is worth pursuing by an employee with extensive experience in the company. Although it requires high experience and flying hours, a person’s capacity is able to soar ahead of time. This makes this position also possible for someone who is still young.