What Is A Chief Operating Officer Job Responsibilities?
Chief Operating Officer is usually referred to as COO which is its abbreviated form. The role of a Chief Operating Officer is to oversee the overall working of the organization. The heads of different departments and other senior officials generally report to the Chief Operating Officer and discuss the performance of individual employees as well as the organization as a whole with him.
In association with these senior company officials the Chief Operating Officer also prepares plans to increase the company’s productivity and improve the services being provided by the company. The position of a Chief Operating Officer is that of great responsibility and only a person having several years of experience and thorough knowledge about the field can handle it well.
Chief Operating Officer’s position is available in various industries/ organizations and the educational requirement of the candidate various based on the industry he is employed in. Though a master’s in business administration is recommended with specialization in the field you wish to get into. Chief Operating Officer is required to handle a number of responsibilities. Two of the major responsibilities handled by a chief operating officer are mentioned below in detail:
Prepare Annual Budget: The main job responsibility of a chief operating officer is to prepare the annual budget of the organization. In order to prepare this he needs to take various company activities and also the financial condition of the company into account. He is required to review the past budget, analyze it, review the manufacturing cost and other related things while preparing the budget.
Draft Appraisal Policy: Chief Operating Officer is required to prepare appraisal policy. He is involved in deciding whether the appraisal should take place every 6 months or yearly. Chief Operating Officer in association with the other senior officials is required to decide as to which parameters should the employees be judged on.
Category: Job Responsibilities