What is the full form of COO?

COO stands for Chief Operating Officer.

It is the corporate title of the senior manager of a company who is responsible for managing critical departments of the company such as production, marketing, and sales. He reports to the 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 for a day to day operations. So, a COO is needed who can supervise and ensure the smooth running of day-to-day operations and report to the CEO.

Eligibility/Requirements

• A degree in business administration or related field is preferred
• Excellent interpersonal and leadership skills
• Ability to solve problems and take decisions
• In-depth knowledge of business functions like HR, Marketing, Finance, Production, etc.
• Relevant experience and proven track record in similar roles.

Responsibilities of COO

Responsibilities of a COO are not fixed. The tasks of the COO vary from company to company on the basis of the history, culture, and nature of the business of a company. Some of the common responsibilities of a COO are:

• Searching for 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