What skills does a chief operating officer need?

A chief operating officer needs 20 essential skills including operations management, financial statements, marketing management, business process modelling, company policies. Core competencies include .

Will AI replace chief operating officer jobs?

The AI disruption score for chief operating officer is 65/100 (high risk). Some tasks may be automated but the role will evolve rather than disappear entirely.

Management & LeadershipChief executives, senior officials and legislatorsISCO 1120

chief operating officer

Chief operating officers are the right hand and second in command of a company's chief executive officer. They ensure that the daily operations of the company run smoothly. Chief operating officers also develop company policies, rules and goals.

European Skills Framework

Skills and knowledge areas required for this occupation based on European classification.

Essential (20)

operations managementoperations managementThe backend business functions that are implemented with the aim of achieving the high efficiency and profitability within an organisation.financial statementsfinancial statementsThe set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statem...marketing managementmarketing managementThe academic discipline and function in an organisation which focuses on the market research, market development, and the creation of marketing campaigns to raise awareness on the company's services a...business process modellingbusiness process modellingThe tools, methods and notations such as Business Process Model and Notation (BPMN) and Business Process Execution Language (BPEL), used to describe and analyse the characteristics of a business proce...company policiescompany policiesThe set of rules that govern the activity of a company.integrate strategic foundation in daily performanceintegrate strategic foundation in daily performanceReflect on the strategic foundation of companies, meaning their mission, vision, and values in order to integrate this foundation in the performance of the job position.ensure lawful business operationsensure lawful business operationsComply with legislation in the daily operations of a company.establish collaborative relationsestablish collaborative relationsEstablish a connection between organisations or individuals which may benefit from communicating with one another in order to facilitate an enduring positive collaborative relationship between both pa...lead managers of company departmentslead managers of company departmentsCollaborate and guide the managers of the departments of a company in terms of the objectives of the company, the actions, and expectations required from their managerial scope.evaluate performance of organisational collaboratorsevaluate performance of organisational collaboratorsEvaluate the performance and results of managers and employees considering their efficiency and effectivity at work. Consider personal and professional elements.analyse business plansanalyse business plansAnalyse the formal statements from businesses which outline their business goals and the strategies they set in place to meet them, in order to assess the feasibility of the plan and verify the busine...interpret financial statementsinterpret financial statementsRead, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this informa...abide by business ethical code of conductsabide by business ethical code of conductsConform and follow the ethical code of conducts promoted by companies and businesses at large. Ensure that operations and activities do comply with the code of conduct and ethical operations the suppl...negotiate with stakeholdersnegotiate with stakeholdersNegotiate compromises with stakeholders and strive to reach the most beneficial agreements for the company. May involve building relationships with suppliers and customers, as well as ensuring product...track key performance indicatorstrack key performance indicatorsIdentify the quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting their operational and strategic goals, using preset performance indicators.develop professional networkdevelop professional networkReach out to and meet up with people in a professional context. Find common ground and use your contacts for mutual benefit. Keep track of the people in your personal professional network and stay up ...plan medium to long term objectivesplan medium to long term objectivesSchedule long term objectives and immediate to short term objectives through effective medium-term planning and reconciliation processes.collaborate in company's daily operationscollaborate in company's daily operationsCollaborate and perform hands-on work with other departments, managers, supervisors, and workers in different aspects of the business from preparing accounting reports, envisioning the marketing campa...shape organisational teams based on competenciesshape organisational teams based on competenciesStudy the profiles of collaborators and decide the best place for directors and collaborators following an strategic mindset and serving to the goals of the company.make strategic business decisionsmake strategic business decisionsAnalyse business information and consult directors for decision making purposes in a varied array of aspects affecting the prospect, productivity and sustainable operation of a company. Consider the o...

Optional (23)

financial managementfinancial managementThe field of finance that concerns the practical process analysis and tools for designating financial resources. It encompasses the structure of businesses, the investment sources, and the value incre...lean manufacturinglean manufacturingLean manufacturing is a methodology that focuses on minimizing waste within manufacturing systems while simultaneously maximizing productivity.apply export strategiesapply export strategiesFollow and implement strategies according to the size of the company and possible advantages towards the international market. Set goals to export products or commodities to the market, in order to mi...manage budgetsmanage budgetsPlan, monitor, report on the budget and prepare set production budgets.imprint visionary aspirations into the business managementimprint visionary aspirations into the business managementIntegrate ambition and visionary plans in both the planning and the day-to-day operations in order to set goals for the company to strive for.interact with the board of directorsinteract with the board of directorsPresent the results of the company, answer questions in regards to the organisation, and receive guidelines on the future perspectives and plans for the company.develop organisational policiesdevelop organisational policiesDevelop and supervise the implementation of policies aimed at documenting and detailing the procedures for the operations of the organisation in the lights of its strategic planning.implement operational business plansimplement operational business plansImplement the strategic business and operational plan for an organisation by engaging and delegating to others, monitoring progress and making adjustments along the way. Evaluate the extent to which s...define the corporate structuredefine the corporate structureStudy different company structures and define that one that best represent the interest and goals of the company. Decide among horizontal, functional, or product structures, and managerial independenc...follow the statutory obligationsfollow the statutory obligationsUnderstand, abide by, and apply the statutory obligations of the company in the daily performance of the job.analyse financial performance of a companyanalyse financial performance of a companyAnalyse the performance of the company in financial matters in order to identify improvement actions that could increase profit, based on accounts, records, financial statements and external informati...set organisational policiesset organisational policiesParticipate in setting organisational policies that cover issues such as participant eligibility, program requirements, and program benefits for the service users.liaise with shareholdersliaise with shareholdersCommunicate and serve as communication point with shareholders in order to provide an overview on their investments, returns, and long-term plans of the company to increase profitability.apply import strategiesapply import strategiesFollow and implement strategies for importing according to the size of the company, the nature of its products, the available expertise, and business conditions on the international markets. These str...shape corporate cultureshape corporate cultureObserve and define the elements in the corporate culture of a company in order to reinforce, integrate and shape further the codes, values, beliefs and behaviours aligned with the company's aims.develop revenue generation strategiesdevelop revenue generation strategiesElaborate methodologies through which a company markets and sells a product or service to generate income.integrate shareholders' interests in business plansintegrate shareholders' interests in business plansListen to the perspectives, interests, and vision of the owners of the company in order to translate those guidelines into pragmatic business actions and plans.develop company strategiesdevelop company strategiesEnvision, plan, and develop strategies for companies and organisations aimed at achieving different purposes such as establishing new markets, refurbishing the equipment and machinery of a company, im...define organisational standardsdefine organisational standardsWrite, implement and foster the internal standards of the company as part of the business plans for the operations and levels of performance that the company intends to achieve.assume responsibility for the management of a businessassume responsibility for the management of a businessAdopt and assume the responsibility that entails running a business, prioritising the interest of its owners, the societal expectation, and the welfare of employees.build international relationsbuild international relationsBuild positive communication dynamics with organisations from different countries in order to build a cooperative relationship and optimise information exchange.develop business plansdevelop business plansPlan, write and collaborate in the implement business plans. Include and foresee in the business plan the market strategy, the competitive analysis of the company, the design and the development of th...implement strategic planningimplement strategic planningTake action on the goals and procedures defined at a strategic level in order to mobilise resources and pursue the established strategies.