COO Full Form | What is Chief Operating Officer
What is the full form of COO
COO: Chief Operating Officer
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 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 needed who can supervise and ensure the smooth running of day to day operations and report to 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 business of a company. Some 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