The COO (Chief Operating Officer) is the right-hand man or woman to the CEO of a business organization, and hence has a major role to play in the operational success of the company. 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 a proper executive management becomes vital for all growing companies. There are many experienced and skilled professionals who work in the position of a COO, such as Scott Tominaga.
Every company is different and tends to be a distinct stage of growth. A brand-new company will have quite different needs than a firm that has been around for several decades and already enjoys a good market share of its industry. Depending on a company, its needs, stage of its cycle and characteristics, it shall require a distinctive type of a COO to help it realize its goals. Here are some of the common types of COOs present in the corporate landscape today:
- The executor: One important role of a COO is to lead the execution strategies that are developed by the top management team. It is just a concession to the scope and complexity of the job of the CEO today, along with its varying external commitments. Managing large, global enterprises at times requires two sets of hands. In this situation, COO generally takes responsibility delivering results on a daily, quarter-to-quarter basis. This is why the position of COO is almost ubiquitous in businesses that are operationally intensive, as well as are in companies that operate in dynamic and hypercompetitive marketplaces.
- The change agent: Certain companies name a COO to lead a particular strategic imperative like a turnaround, a planned rapid expansion or a major organizational change. While the mandate is not as broad as the general execution of strategy, the overall magnitude of the challenge does demand that the change agent COO to have a level of unquestioned authority that is similar to the executor COO.
- The mentor: Certain companies bring a COO on board for the purpose of mentoring an inexperienced or young CEO, often a founder. Any rapidly growing entrepreneurial venture might require the expertise of an industry veteran who has wisdom and rich network to help both 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 at making 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, stage of its cycle and characteristics, it shall require a distinctive type of a COO to help it realize its goals.