The COO: zoom in on this job that boosts company growth

In the family of English business acronyms, today we're going to talk about the COO!

Behind these three mysterious letters lies the Chief Operating Officer. This strategic management position, along with the CEO, CMO and CTO, is akin to an operational conductor. He steers the company's activities, collaborating with all departments such as finance, marketing, sales, supply chain and R&D.

But who exactly is the COO? What are his/her missions, skills and place in the company? All the answers in this article!

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The role of the COO: definition

The role of the COO (Chief Operating Officer) is to support the growth of his or her company or startup, by implementing or improving processes, actions and tools, and by managing operational teams.

Also known as Director of Operations (DOP ), he/she is responsible for ensuring that teams are able to carry out their missions and achieve their objectives successfully.

He/she is the CEO's deputy, and steers operations thanks to his/her strategic and field vision of the organization, and in collaboration with the various team leaders.

The COO's missions

The COO's scope of action is more or less extensive, depending on the structure in which he or she works. Whether working for a start-up or a major corporation, the COO's main missions are to :

• contribute to the definition of the corporate vision and strategy;
• translate corporate vision into action plans. Thanks to his or her strategic and operational vision, the COO is in a position to propose the most appropriate actions to be taken to achieve objectives;
• implement processes to optimize task allocation and streamline workflows between teams. He/she closely monitors the efficiency of processes and working methods, improving them if necessary;
• problem-solving, with the ability to make quick decisions to overcome unforeseen obstacles;
• manage teams by providing them with the resources they need to accomplish their tasks, and by motivating and supporting them.

© CFO.com

🤝To successfully carry out his or her missions, the COO works closely with the various team leaders, and acts as a link between them, especially when working on a problem that affects several departments. And when solving a problem requires specific skills, he or she mobilizes the relevant in-house expertise.

COO profile

Skills and qualities

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Here is a non-exhaustive list of the COO's skills:

• strategic vision, which enables you to see the big picture and give insight to activities in the field,

• project management, to keep on top of different projects, costs, deadlines and resources,
• extensive experience in the field, to be at ease when faced with problems,
• operational English, often necessary for this type of strategic position, etc.

The indispensable qualities of a COO :

• leadership skills , to keep teams motivated and encourage them to reach their full potential,
• good communicator, to get messages across effectively,
• observant, to analyze what works and what needs to be improved,
• cool-headed, in all circumstances
• a good manager, able to delegate and support,
• curious, especially when it comes to monitoring the market and the latest trends,
• organized and rigorous in project management.

Career path

There are no specific courses of study for this profession, but in general you'll need a Master's degree from a :

• business school,
• business school,
• engineering school,
• or university (management, administration, sales, marketing, etc.).

However, a degree is not enough, as several years' experience are needed to take on this role to perfection. Only a senior profile can be equipped with the range of cross-functional skills, and that strategic vision expected of the COO.

💡Working for a few years in the consulting business means you'll be confronted with a wide range of issues, in different companies and contexts. And very often, the COO is the fruit of internal promotion, as already knowing the company well can be quite an asset in carrying out his or her missions.

Salary

In France, the minimum salary for a COO is between €50,000 and €65,000 per year. It varies according to length of service with the company, scope of responsibilities, experience and type of organization. Some companies pay between 80,000 and 120,000 euros.

CEO vs COO: what's the difference?

While both functions are strategic to the company, here are a few points to help us differentiate between CEOs and COOs.

The COO's tools

When it comes to software, the COO makes intelligent use of the many tools on the market to help him collaborate with his teams, and effectively manage the progress of different projects. To this end, business management software such as Axonaut provides an overview of business activity, thanks to functionalities such as :

• project tracking,
• task management
• time management,
• project profitability calculation, etc.

Unified communications software, such as Slack or Front App, are also effective tools for centralizing information and resources, as well as considerably streamlining exchanges between collaborators. Sometimes, they can even provide a dynamic that welds the group together, thanks to features such as instant messaging, videoconferencing, file sharing and so on.

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Is a good COO an excellent future CEO?

The COO is the person with the broadest, most transversal and ultimately accurate vision of an organization.

Equally at ease with strategy and hands-on management, he or she knows the ins and outs of a company's strengths and weaknesses, especially if he or she has established a relationship of trust with all the players.

A wealth of experience as COO confers all the knowledge and skills to succeed the CEO, and embody this role with brio.