The COO (Chief Operating Officer) is the right-hand man or woman to the CEO of a business organization and, hence, has a significant role to play in the company’s operational success. There has been a growing need for COOs in the contemporary corporate landscape owing to the widening scope of the role of the CEO. Among increasing company sizes, expanding global operations, and aggressive acquisitions, having proper executive management becomes vital for all growing companies. Many experienced and skilled professionals work as a COO, such as Scott Tominaga.
Every company is different and tends to be in a distinct growth stage. A brand-new company will have entirely different needs than a firm that has been around for several decades and already enjoys a good market share in its industry. Depending on a company, its needs, the stage of its cycle, and its characteristics, it shall require a distinctive type of COO to help it realize its goals. Here are some of the common types of COOs present in the corporate landscape today:
- The executor: A critical role of a COO is to lead the execution of strategies developed by the top management team. It is just a concession to the scope and complexity of the CEO’s job today and its varying external commitments. Managing significant global enterprises at times requires two sets of hands. In this situation, the COO generally takes responsibility for delivering results daily, quarter-to-quarterly. This is why the position of COO is almost ubiquitous in operationally intensive businesses and companies that operate in dynamic and hyper-competitive marketplaces.
- The change agent: Certain companies name a COO to lead a strategic imperative like a turnaround, a planned rapid expansion, or a significant organizational change. While the mandate is not as broad as the general execution of strategy, the challenge’s overall magnitude demands that the change agent COO have a level of unquestioned authority similar to the executor COO.
- The mentor: Certain companies bring a COO on board to mentor an inexperienced or young CEO, often a founder. Any rapidly growing entrepreneurial venture might require the expertise of an industry veteran with wisdom and a a rich network to help the CEO and the business. As the CEO develops, the role of COO usually gets heavily restructured.
- The partner: At times, the appointed CEO can be a person who works the best with a partner. This can lead to a situation of a “two in a box” model or co-leadership.” However, this model does not work with all. Much like there are doubles specialists in tennis, only certain executives are more effective when paired.
No matter the particulars of their role, COOs like Scott Tominaga always aim to make sure that a company is run in the most competent manner possible. Thereby effectively maximizing its profits and customer satisfaction levels. Depending on a company, its needs, the stage of its cycle, and its characteristics, it shall require a distinctive type of COO to help it realize its goals.