An important difference between these roles is that a CBO focuses on the financial aspects of the company, while a COO oversees its daily operations. Consequently, CBOs may require strong financial and accounting skills. In comparison, an operations manager may need organizational skills and an understanding of a company's processes.
Often, the chief operating officer will have to balance the objectives, needs, and challenges of all departments in the company. Achieving this balance requires the chief operating officer to think critically and prioritize the needs of departmental supervisors, while taking into account the objectives and direction of the CEO's strategy.
The Chief Operating Officer (COO) is usually second in command of the company, while the Vice President of Operations (VP) plays a more hands-on role with the operations team. Learn more about their roles & responsibilities.