Certain executive level positions have become extremely crucial for the success of business organizations in the modern day corporate environment. An efficient and extensive management team is especially needed in large-scale enterprises. The job of a COO or the Chief Operating Officer is one of the executive positions whose popularity has surged up quite a bit over the years. The COO of a firm is known to hold one of the most powerful positions at the enterprise and is essentially required to carry out a host of important tasks as well. As highlighted by Larry Polhill, a COO typically is the professional responsible for managing the daily operating and administrative functions of an organization. Being in the position of a COO for quite some time, Larry is quite well-versed with the duties and responsibilities that come with this job.
The COO of a firm is often referred to as the second in command of an organization as their position comes right after the CEO or the Chairman of the company. According to Larry Polhill, the COO is essentially the executive member of a firm who looks after its everyday operations, and also directly reports important matters relating to it to the relevant company head. The company head might be the president, the managing director or the CEO of the organization. Larry has served both in the role of a company COO and a president. He is the Chief Executive Officer, as well as the President of the American Pacific Financial Corp. (APFC). He also used to serve as a COO at the Cafe Valley, Inc.
The years of experience acquired by Larry Polhill as the COO of renowned firms have essentially made him a perfect candidate to provide an insight on the important responsibilities and tasks required to be carried out by such executive professionals. Here are a few of the key responsibilities of a typical Chief Operating Officer:
- Formulating and setting effective long terms plans for the optimal growth, development, and success of an organization
- Planning, designing and ultimately diverse types of business strategies and procedures that can assist in expanding the profit prospects of an organization
- Exemplifying the key vision and mission of the organization, and encouraging the company staff to abide by those set guidelines
- Supervising the diverse daily activities that take place in an organization. The COO of a firm is typically required to provide overall supervision to the production, marketing, IT, sales, human resources and other important departments of the company
- Making note of all the key concerns regarding the business operations, and subsequently reporting them to the CEO of a firm
- Providing the CEO with daily briefs and reports about the process and development of the organization
- Maintaining a positive and affable relationship with the diverse vendors, shareholders, partners and investors of a firm
- Becoming the team leader for the diverse employees working at the firm, and subsequently encouraging them to give them their best
Larry Polhill mentions that the importance of the position of a COO tends to increase with the gradual development and growth of a firm.