What is the difference between CEO & COO? — Mark Jones COO
Suppose you have a dream of serving as an executive in the company. In that case, it is vital that you clearly understand the difference between a Chief Executive Officer and the Chief Operations Officer. Both the CEO and the COO play executive roles in an organization.
They work together to ensure that the organization grows and that each goal is attained within the period allotted. But you should understand that there are variations in the duties played by both parties in a company. In this post, we will take a look at the differences between a CEO and a Chief Operations Officer.
Who Is a CEO?
This is the person enjoying the highest rank in the company. They are the ones that set corporate goals and take part in making vital decisions in an organization. For instance, a CEO will say when the time is right to expand and dominate a new market, or even come up with a new product.
A CEO will help optimize the business value by stating the company’s vision, framework, direction, and long-term objectives. It is important to note that the roles of a CEO can be affected by a number of factors such as the size of the company, the organization’s line of operation, and the organizational culture.
If a CEO is working in a larger company, they will have a lot of things to do compared to when the company is small. Also, big companies will need more time to work on long-term plans and make them materialize.
If you are a CEO of a publicly traded corporation, you will have to respond to a board of directors and ensure that they get the best investment return. Therefore, there is a good chance you will be actively involved in the company’s day-to-day running.
The Roles of a Chief Operations Officer
Like the CEO, the chief operations officer plays key roles in the company. They help to coordinate the budgeting as well as take part in the financial planning with stakeholders. This means that s/he will work closely with the company’s chief accountant.
The Chief Operations Officer will also ensure that a good marketing strategy is created and embraced by the individuals in charge. This is done to reduce the risks involved while improving organizational growth.
To make sure that the company takes good care of its finances, the chief operations officer will take care of costs and expenses and come up with the right strategies to ensure that losses are kept at a minimum. The officer will also delegate duties to other workers in the company and ensure that each person has the best working environment.
The Bottom Line
We hope that the information shared above helps you understand the organization’s Chief Executive Officer and Chief Operations Officer’s duties. People like Mark Jones are the best to learn from in case you need to get more information about the topic. Also, you can use free internet resources to learn more without spending a dime.
