{"73003":{"#nid":"73003","#data":{"type":"news","title":"Researchers Demystify Role of COO in New Book","body":[{"value":"\u003Cp\u003EChief operating officers are something of a mystery. Second in command, they are typically responsible for day-to-day delivery of business results, but their role can vary widely from company to company, causing confusion over COOs\u0027 value, according to a new book.\u003C\/p\u003E\n\u003Cp\u003E\u0022There is no agreed-upon description of what the job entails or even what it\u0027s called,\u0022 says Nate Bennett, a Georgia Tech professor of organizational behavior who is co-author, with Stephen Miles, of \u003Cem\u003ERiding Shotgun: The Role of the COO\u003C\/em\u003E (due June 19 from Stanford University Press) and an article in \u003Cem\u003EHarvard Business Review\u003C\/em\u003E\u0027s May issue on the same subject.\u003C\/p\u003E\n\u003Cp\u003EAnother challenge, in addition to defining the COO role, is determining whether the position is headed for extinction or making a comeback, say Bennett and Miles, a partner of Heidrick \u0026amp; Struggles Leadership Consulting. Although they cite one 2004 study showing that the number of firms with COOs had declined 22 percent over the previous decade, the authors have seen recent evidence that corporate demand for the position is growing. \n\u003C\/p\u003E\n\u003Cp\u003EWhile some firms have declined to fill vacated COO spots, instead dividing the job\u0027s duties among other top managers, many companies in a wide range of industries have announced new COOs in recent years, including Microsoft, RadioShack, Airbus, Allstate, Alcatel, Chiron, Nissan, Comcast, Eli Lilly, Apple, and Medtronic.\n\u003C\/p\u003E\n\u003Cp\u003E\u0022We can easily argue that there is a growing need for the role,\u0022 says Miles, listing such reasons as the widening scope of CEO responsibilities and the increasing desire of boards to identify heirs to the top spot. Bennett adds: \u0022In light of these trends, it\u0027s surprising that COOs are not more common. Our suspicion is that they would be if there were less variability and confusion surrounding the role.\u0022\n\u003C\/p\u003E\n\u003Cp\u003EAiming to shed light on a job largely neglected by scholars and the business press, Bennett and Miles extensively researched what makes a successful COO and why companies might want to add the position. Their book, \u003Cem\u003ERiding Shotgun\u003C\/em\u003E, features in-depth interviews with numerous executives, including Motorola\u0027s Ed Zander, eBay\u0027s Maynard Webb, Starbucks\u0027s Jim Donald, and PepsiCo\u0027s Steve Reinemund.\n\u003C\/p\u003E\n\u003Cp\u003EFinding that COO duties tend to vary greatly because companies adapt the job to meet the needs of particular CEOs, Bennett and Miles identify seven major types of second bananas: 1) the executor, who implements strategies, enabling the CEO to be more externally focused; 2) the change agent, charged with leading major reorganizations, turnarounds, or other strategic imperatives; 3) the mentor, brought on board to help a young or inexperienced CEO; 4) the other half, whose strengths complement the CEO\u0027s; 5) the partner, for CEOs who work best in that kind of relationship; 6) the heir apparent, groomed to take over one day; and 7) the MVP, promoted because he or she is too valuable to lose to a competitor.\n\u003C\/p\u003E\n\u003Cp\u003E\u0022The tremendous variation in COO roles and responsibilities manifestly implies that there is no standard set of \u0027great COO\u0027 attributes\u0027.\u0022 write Bennett and Miles in the \u003Cem\u003EHarvard Business Review\u003C\/em\u003E, noting that the most critical factor for success is a high level of trust between the CEO and COO. \u0022The CEO must feel certain that the COO shares his vision, is not gunning for the top spot, and can get the job done.\u0022\n\u003C\/p\u003E\n\u003Cp\u003EOf potential interest to any manager climbing the ladder, both the journal article and Riding Shotgun are intended as resources to help CEOs and COOs collaborate more effectively. While COOs must keep their egos in check, CEOs should find ways to share the spotlight, the authors note. Frequent communication and a clear division of responsibility between the two are also crucial, they write.\n\u003C\/p\u003E\n\u003Cp\u003EAccording to the authors, reluctance to add a number-two executive can sometimes be detrimental to both the company and CEO. They argue, for example, that ousted Hewlett Packard CEO Carly Fiorina should have hired a COO to help ease the company\u0027s complicated merger with Compaq.\n\u003C\/p\u003E\n\u003Cp\u003E\u0022Understanding what makes for a successful chief operating officer is vital because the effectiveness of COOs is critical to the fortunes of many companies - and could be to many more,\u0022 Bennett says.\n\u003C\/p\u003E\n\u003Cp\u003E\u003Cstrong\u003EWriter:\u003C\/strong\u003E Brad Dixon, College of Management\u003C\/p\u003E","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":[{"value":"Chief operating officers are something of a mystery. Second in command, they are typically responsible for day-to-day delivery of business results, but their role can vary widely by company, causing confusion over COOs\u0027 value, according to a new book.","format":"limited_html"}],"field_summary_sentence":[{"value":"New book titled Riding Shotgun: The Role of the COO"}],"uid":"27301","created_gmt":"2006-05-05 00:00:00","changed_gmt":"2016-10-08 03:02:23","author":"Elizabeth Campell","boilerplate_text":"","field_publication":"","field_article_url":"","dateline":{"date":"2006-05-05T00:00:00-04:00","iso_date":"2006-05-05T00:00:00-04:00","tz":"America\/New_York"},"extras":[],"hg_media":{"73004":{"id":"73004","type":"image","title":"Nate Bennett","body":null,"created":"1449177971","gmt_created":"2015-12-03 21:26:11","changed":"1475894668","gmt_changed":"2016-10-08 02:44:28"}},"media_ids":["73004"],"related_links":[{"url":"http:\/\/mgt.gatech.edu\/directory\/bennett.html","title":"Bennett Faculty Website"},{"url":"http:\/\/mgt.gatech.edu\/index.html?link=logo","title":"College of Management"}],"groups":[{"id":"1214","name":"News Room"}],"categories":[],"keywords":[],"core_research_areas":[],"news_room_topics":[],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cstrong\u003ELisa Grovenstein\u003C\/strong\u003E\u003Cbr \/\u003ECommunications \u0026amp; Marketing\u003Cbr \/\u003E\u003Ca href=\u0022http:\/\/www.gatech.edu\/contact\/index.html?id=lgrovenste3\u0022\u003EContact Lisa Grovenstein\u003C\/a\u003E\u003Cbr \/\u003E\u003Cstrong\u003E404-894-8835\u003C\/strong\u003E","format":"limited_html"}],"email":["lisa.grovenstein@comm.gatech.edu"],"slides":[],"orientation":[],"userdata":""}}}