Chief Operating Officer How to become, career path, income potential
Do you have a natural talent for taking the lead? If you have an interest in all areas of a business, how they work together, and how they are managed? If so, a chief operating officer (COO) could be the position calling your name. Chief operating officers look at complex problems, find creative and effective solutions, and execute them.
COOs are usually second in command in an organization. They are responsible for the daily business operations of a company and report directly to the chief executive officer (CEO). The COO takes the vision, strategies, plans, and goals of the CEO and turns them into a successful business framework. Since a COO has their hands in many different departments, they need to be knowledgeable of all aspects of the business and experienced in a wide range of functions within the company.
The COO is sometimes called the operating director, managing director, or executive vice president of operations. Whatever the title, the COO is the person who gets things done in the organization.
Sample job description
[Your Company Name] is looking for a strong and responsible person to join our team as COO. As the operating director of our company, you will be responsible for financial strategies, business plans, creating and executing company goals, directing managers, and more. The individual we’re looking for should have a knack for directing, organization, and being a leader. You will be tasked with overseeing all daily aspects of the company and should be committed to creating a safe employee environment that is successful and hardworking.
Typical duties and responsibilities
Design, plan and implement business strategies, plans, and procedures
Set broad goals for business growth and success
Create policies and procedures that promote company culture and vision
Maintain and direct daily operations of the business
Lead employees by example
Support and motivate senior executives and employees
Analyze and interpret data and metrics
Generate management and operations reports for the CEO
Take the lead in expansion activities
Maintain healthy relationships with partners and vendors
Education and experience
Bachelor’s degree at minimum; master’s degree preferred
Fifteen years of related business experience
Extensive experience in management and leadership roles
Required skills and qualifications
Strong leadership skills
Excellent people management skills
Strong project management skills
Understanding of critical business functions
Outstanding organizational skills
Ability to multi-task
Prior experience in a chief operating officer role of a relevant position
Experience in management
Master’s degree in business or related field
Strong interpersonal and communication skills
Typical work environment
The job and working environment of a COO can vary greatly from one company to another, but they typically work in large, comfortable offices. They spend a lot of time sitting in front of a computer and spend part of their day in conference rooms attending meetings. They work closely with the chief executive officer and key staff members, and the work can be stressful as the success of the business depends on them.
The normal workday for a COO is from 9 AM to 5 PM, Monday through Friday. However, COOs typically work well beyond a 40 hour week, and many can work 60 hours or more, which includes nights and weekends.
Here are some of the best certifications for COOs:
Project Management Professional (PMP). APMP demonstrates a solid foundation in project management, demonstrating that you have the specific skills, dedication to excellence, and the ability to perform at the highest levels. To qualify for a PMP credential, you need a four-year degree, 36 months of experience leading projects, and 35 hours of project management. If you don’t have a 4-year degree, you’ll need 60 months of leading projects. You must also agree to adhere to a code of professional conduct. The rigorous multiple-choice examination assesses and measures your ability to apply project management knowledge in areas such as initiating the project, planning the project, and executing the project.
Program Management Professional (PgMP). ThePgMPis the next step after thePMP certification. The PgMP acknowledges your ability to lead and coordinate multiple projects at the same time and to ensure the success of the programs. This certification shows that you have the knowledge and experience to make important decisions, to manage complex activities that might involve multiple functions and organizations across different cultures and locations, and to employ strategic objectives to enhance business results. To apply, you’ll need at least a high school diploma or associate’s degree, 48 months of project management experience, and 84 months of program management experience in the last 15 years. If you have a 4-year degree, you can apply with 48 months of project management experience and 48 months of program management experience within the last 15 years.
COO-C Chief Operating Officer – Certified. The COO-C is for chief operating officers, executives, and senior managers who want to broaden their skills in operations management. Admission to the course is very selective and is based on your professional level, your achievements, and your organizational responsibility. Although there are no educational requirements, most applicants have a Bachelor’s, Master’s, or PhD.
A bachelor’s degree in business or a related field is highly recommended. A master’s or doctoral degree will give you an extra boost above your competition. A major key to becoming a COO is gaining years of experience in management, operations, and leadership. Roles such as general manager or chief financial officer are typical stepping stones to becoming a COO.
US, Bureau of Labor Statistics’ job outlook
SOC Code: 11-1011
Projected Employment in 2021
Projected 2019-2029 Percentage Shift
Projected 2019-2029 Numeric Shift
Technology is vitally important to the COO, and as technology quickly advances, the COO has to stay on top of the changes for the company to be competitive in the market moving forward. A COO must know how to use technology correctly. Organizational structure is also becoming more important. As the remote working force expands, organizational structures will have to be redesigned. Change is occurring all around us at a rapid pace, and the COO’s of the future will have to quickly evaluate and leverage those changes to keep their companies working at their maximum potential. Tomorrow’s COOs will need skills like foresight, change management, mentoring, technical aptitude, and business acumen.
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