Every business operates with a CEO, yet only 40% of the world’s leading companies have a Chief Operating Officer (COO). The COO acts as second in command to the CEO, often labeled the CEO’s secret weapon. But what happens when the COO is undertrained?
Companies lose roughly 20% to 30% of their revenue each year from inefficiencies in the workflow due to poor management. A COO is tasked with important responsibilities such as executing strategies, leading business decisions such as mergers, mentoring younger talent, etc. They should be able to juggle multiple tasks effectively, quickly grasp complex problems, and allocate the right amount of attention to major goals. The company may suffer serious repercussions if they have not received the proper training to carry out these tasks.
Fortunately, there are modern solutions to such a problem. New training tools provided by companies like Catapult Ai are specifically designed to train leadership roles and maximize potential. These programs allow COOs to increase their skill set so they can, in turn, expand company capability. These improvements include refining clarity and accountability within roles, a more aligned, focused, and forward-moving company, and accelerated results business-wide.
Investing in the leadership of a company is essential to setting a structured foundation for the company to expand. With strong authority to lead a company in the right direction, increases across the board have been noted. Organizational performance has the ability to increase by 48%, with team performance rising by 50%, and individual performance by 70%. These accelerated performances can be directly traced to improvements in a company’s management.
A company that recognizes the importance of growth and development sees faster results than one that does not. Holding leadership to a high standard only promotes the same high standard to lower divisions. This positive ripple effect not only secures trust between management and employees but ensures a strong foundation for future success.
Source: Diane Integrates
