COO Full Form | What is the Full Form of COO
COO Full Form - Chief Operating Officer
Chief Operating Officer
- COO stands for Chief Operating Officer.
- It's the company title of the senior manager of a company who is liable for managing critical departments of the company like production, marketing and sales. He reports to chief executive officer (CEO) of the company.
- Some of the alternative corporate titles used for COO are Chief Operations Officer, Operations Director and Director of Operations.
Need of COO
- CEO of a company remains too busy in strategy making and maintaining relations with investors and other trading partners. He can't devote much time to day to day operations. So, a COO is required who can supervise and make sure the smooth running of day to day operations and report back to CEO.
- A degree in business administration or related field is preferred.
- Excellent interpersonal and leadership skills.
- Ability to resolve problems and take decisions.
- In-depth knowledge of business functions like HR, Marketing, Finance, Production etc.
- Relevant experience and proven record in similar roles.
Responsibilities of COO
- Responsibilities of a COO aren't fixed. The tasks of the COO vary from company to company on the idea of the history, culture and nature of business of a company. A number of the common responsibilities of a COO are:
- Searching low cost supply sources
- Inventory management
- Working capital management
- Timely production and delivery of products
- To supervise the marketing and sales departments
- Increasing sales and tapping emerging markets
Skills and Qualification
- Usually, the candidates with the following skills and qualifications are found to be suitable for the role of Chief Operating Officer:
- Minimum ten years of experience in a professional started with experience in handling operations during a large organization at the leadership level is one of the essential prerequisites. However, the amount of years’ experience varies based on the organization and industry.
- Masters degree in business administration alongside certifications in operations management from a reputed institute
- Strong communication skills and a clear understanding of the business. Background in a related line of business may be a big advantage and makes the candidate a perfect fit.
- These are a number of the talents and traits that organizations usually look for when choosing somebody for the Chief Operating Officer’s role.
- There could also be numerous other skills and requirements depending upon the organization also as role requirement which maybe check out by different Organizations that are specific to the organization in question and isn't generalized in nature.