Automotive

Chip shortage puts a brake on auto industry

Initially downplayed by auto industry bosses, the global shortage of computer chips has worsened and severely hampered carmakers, according to their latest results.

Business

Ozy CEO: 'premature' to shut down after week of scandal

The CEO of Ozy Media on Monday said it had been "premature" to shut down the company and that he wants to keep operating, despite a scandal-ridden week that exposed Ozy as an outlet without much of an audience.

Business

Media company Ozy is shutting down as problems mount

Ozy is shutting down less than a week after a New York Times column raised questions about the media organization's claims of millions of viewers and readers, while also pointing out a potential case of securities fraud.

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Chief operating officer

A chief operating officer or chief operations officer (COO) is a corporate officer responsible for managing the day-to-day activities of the corporation and for operations management (OM). The COO is one of the highest-ranking members of an organization's senior management, monitoring the daily operations of the company and reporting to the board of directors and the top executive officer, usually the chief executive officer (CEO). The COO is usually an executive or senior officer.

The focus of the COO is on operations management, which means he is responsible for the development, design, operation, and improvement of the systems that create and deliver the firm's products/services. The duties of the COO may reside in certain organizations with a vice president of operations. The COO is responsible for ensuring that business operations are efficient and effective and that proper management of resources, distribution of goods and services to customers, and analysis of queue systems is done.

COOs ideally need to have domain knowledge of the business & industry, understand modern management theories (Total Quality Management, Kaizen), employ process/quality improvement techniques (business process reengineering, Six Sigma) and sometimes quality process standards if required by customers or desired by the company (ISO 9001).

Functions of a COO:

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