The CEO is the chief executive of a company; the president is the second highest executive, after the CEO. In some cases, a company's second most important executive is called a chief operating officer (COO). The president is a high-level executive who is usually in second place in command, below the CEO. The salary of an executive vice president is higher than that of a director of operations because he has more job possibilities than an operations manager.
Typically, a CEO is the highest-ranking official in a company, while the president is the second-in-command. However, this is not always the case. This career entails a lower average salary compared to a president's 26% annual salary as chief operating officer. A chief operating officer (COO) is responsible for managing daily operations and, at the same time, is accountable to the highest-ranking executive.
Both chief operating officers and presidents are responsible for keeping the company moving forward by innovating its business strategies. We estimate that 11% of chief operating officers of presidents dominate financial performance, revenue growth, and product development. The chief operating officer (COO), who is responsible for daily operations, has vice presidents in different parts of the company who depend on them. Based on the curricula of presidents, chief operating officers, and executive vice presidents, some of the skills needed to carry out the responsibilities of each position are similar.
The following are examples of the responsibilities of real presidents and chief operating officers, representing the typical tasks they are likely to perform in their roles. For example, the president's responsibilities as chief operating officer are more likely to require skills such as strategic partnerships, healthcare, startup creation, and the chief operating officer. Both the employees who occupy the positions of chief operating officer and division directors are experts in revenue growth, product development, etc. The responsibilities of a vice president of operations will revolve around overseeing business operations and ensuring the efficiency of the workforce and workflow through evaluations and the development of strategic plans that will drive the company to fulfill its vision and mission.
Corporate vice presidents are known to have a level of training similar to that of the presidents of 26% of chief operating officers. The level of education attained by division directors is slightly different from that of 26% of the president's chief operating officers. For example, a president with 26% of chief operating officers is likely to be an expert in revenue growth, strategic partnerships, startups, and logistics, while a typical corporate vice president is an expert in portfolios, project management, financial statements, and treasury. Each position requires different skills, such as start-up, logistics, chief operating officer, and product line, that could be on the resume of a 26% president as chief operating officer.
The Chief Operating Officer (COO) is a senior executive responsible for managing and overseeing the daily administrative functions of 26% of operational functions.