The meaning of COO is Director of Operations. This is the CEO's second-in-command. COOs take the CEO's vision for the company and turn it into an executable business plan. They oversee all operations and ensure that teams work to achieve business objectives.
The COO (Chief Operations Officer) reports to the CEO and is the right hand of the CEO, responsible for the general functions and operations of a company. CEOs focus more on the general long-term aspects of managing a company, while chief operating officers focus on current operations and the financial state of the organization. The chief operating officer, or COO, is a senior executive who oversees the day-to-day administrative and operational functions of a company. They are generally considered to be the second in command of a company and are dependent on the CEO.
The main difference between the CEO and the COO is that the CEO is the person who is the best man on the ship, the leader of the company in Toto, while the chief operating officer is responsible for the day-to-day operational and administrative functions of the company and depends on the CEO. The COO also works closely with the chief financial officer (CFO), chief information officer (CIO) and other officials to make appropriate operational adjustments. Understanding what makes a chief operating officer successful is vital because their effectiveness is fundamental to many companies' success. The CEO must be sure that the chief operating officer shares their vision, is not looking for their first position and can do the job.
The chief operating officer must ensure that the CEO will provide everything necessary to get the job done, will not put any obstacles in their way and will not hinder future career advancement. In general, the CEO is considered to be the highest CEO of a company, while the president is second in charge; however, in corporate governance and structure, several permutations can take shape, so the roles of both may be different depending on the company. Chief operating officers are highly visible and powerful by virtue of their inherent talents and organizational position. This is why this position is almost omnipresent in companies that require intensive use of operations, such as airlines and automotive industries, as well as in organizations that operate in hypercompetitive and dynamic markets, such as high-tech companies.