What is your business superpower? Everybody has different talents and skills that make a team strong. Below are 4 priorities every Chief Operating Officer (COO) needs to know.
As reported by Forbes on May 10. 2022 by David Sweetman.
Business Superpowers Unleashed: 4 Mission-Critical Priorities Every COO Needs To Know
What are your business superpowers? Calibrating a supply chain in real time without requiring excess inventory? Placing the right talent in the right place, with the right skills, and at the right time? Or realigning to every new sale, service, and customer desire without increasing costs?
For chief operating officers (COOs), all of these powers are in their possession with the help of technology.
The Trusted and Respected Voice of the Business
COOs certainly have their plates full, managing resources to achieve short, medium, and long-term goals to shape the company’s identity. Heavy reliance on processes and technologies is critical to optimize quality, skill, price and profitability.
This position of trust, and orchestration puts COOs at the center of managing change, driving innovation and implementing new business models. By using technology beyond an operating system for processes, COOs can better understand events, transform organizations and differentiate value in ways that no other executive can.
Managing agile organizations requires integrated technology infrastructure across the enterprise to gain a clear advantage. This may include a Cloud ERP system, and other, integrated systems and solutions that connect divisions, departments, and functions to support reporting, decision-making, and ultimately performance.
This approach can turn every COO into a business hero, especially when tackling four priorities:
1. Increased Customer-Centricity
To deliver unique customer requirements consistently with high quality and resilience, COOs drive a competitive edge that keeps competitors guessing and customers delighted. This tactic includes incorporating digital models, such as service-as-a-product offerings and usage-based billing.
2. Data-Driven Insights and Intelligent Technology
As the primary user of business systems, COOs are constantly changing business rules based on ever-evolving needs, expectations, and industry dynamics. The operations function needs digital agility to unlock the insights needed for the company to succeed. This goal can be achieved with a cloud ERP featuring a fast and dynamic in-memory computing structure in the cloud and enabling the automation of repeatable processes.
3. A Well-Managed Talent Pool
People are vital to an agile organization. From hire to retire, the right mix of skills training and knowledge resources and availability are needed. COOs ensure talent is managed and supported effectively by choosing appropriate HR technologies.
4. Improved Sustainability Performance
Worldwide, sustainability is a top priority for customers, employees, partners, investors, and stakeholders. Companies are expected to exercise fair labor practices, environmentally friendly processes, and source products and materials responsibly.
Building the Resilience to Grow and Expand
COOs have a tough job ‒ in fact, it may be more challenging than ever before. But with a comprehensive cloud ERP integrated with the right digital technologies, they can put their knowledge, ingenuity, and skill to work in ways that enable business model innovation, optimize processes, and implement mission-critical capabilities rapidly.
Best of all, COOs can become the business hero that their company needs to run with the mission-critical resilience that people trust ‒ and value ‒ most.
It is time to turn your talents into superpowers. Take your knowledge and share it with your team.
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