A chief operating officer typically oversees the daily operations of a company and reports on their efficiency to the chief executive officer. A COO monitors the functioning of a company's production systems and discusses his ideas for improvement with the CEO.Continue Reading
For a company to have a successful COO, the board must choose the right person for the position and provide him with the support he needs. A company must also create the COO position for the right reasons and at the right time. One of the right reasons for creating a COO position is to train an executive to take over the CEO role. A COO must evolve with his changing roles as a company grows.
The CEO must accept the creation of a COO position because he must willingly share his power with the COO. For a COO to succeed, the CEO must invest time helping him fit into his new role. The CEO and the COO must have a good interpersonal fit and a knowledge overlap that complements their roles.
The CEO must abide by the boundaries set between his role and that of the COO for both roles to succeed. A CEO must back the decision making authority of the COO, especially when someone challenges it.Learn more about Careers