About The Summit Companies
Outsourced Chief Operating Officer Solutions
The Chief Operating Officer, or COO, of an organization provides strategic leadership and vision to coordinate and align divisions and processes. Without having an individual with the expertise and resources necessary accomplish that alignment, many businesses struggle to deliver products and services in an efficient and profitable manner. The good news is that through Summit’s Chief Operating Officer program, any size of organization can reap the benefit of effective strategic guidance without needed to incur the expense of a full-time COO.
With the Summit Executive-as-a-Service program, small and mid-sized businesses and charitable organizations can have access to the same level of marketing expertise and resources that larger corporations find to be indispensable. As part of the Summit Executive-as-a-Service program, clients can add an outsourced operations executive to their team for a fraction of the cost of a full-time staff member. Summit outsourced Chief Operating Officers work with the team to determine what actions the company needs to take to be able to effectively manage all aspects of operations. These specific operations related strategies can cover areas such change management, program improvements, risk management and safety, process management, inventory control, and cost reductions. All of these areas can be critical to build and maintain profitability. Below are just a few examples of steps that a COO from Summit can help a business take to help it grow and thrive.
Coordinate Organizational Processes and Divisions: Organizations are complex combinations of people, departments, and processes. Without the necessary coordination and management, it is impossible to make sure that the right resources and support go to the right places. An outsourced COO can help your business optimize its resources and bring the various elements together to support common goals.
- Work with board members, team members, and direct reports to address issues, coordinate activities, or resolve problems.
- Establish departmental responsibilities and coordinate functions along department lines.
- Appoint department heads or managers and delegate responsibilities accordingly.
- Analyze operations to evaluate performance of the organization relative to meeting objectives or to determine areas of potential cost reduction,
Establish and Track Key Performance Indicators: Not all performance numbers need to be tracked, but those that are key to the success of the organization must be reviewed consistently and by the right members of the team. Key Performance Indicators, or KPI, can help an organization develop a focused scoreboard to evaluate its progress and success. While the KPI’s of different organizations may focus on similar areas, such as growth, margins, and new customers, the selections of specific measures will depend on the unique characteristics and needs of the organization.
- Establish reports to allow team members to view and act upon the performance of the organization.
- Direct existing and future operational actions to maximize success as defined and measure through the KPIs.
Establish and Track Leading Indicators: Tracking KPIs allows the team to see results that relate to the success or failure of the organization. What also should be measured and tracked are “leading indicators,” which are the actions taken that then lead to the results desired by the organization. It is often challenging for the organization to establish the relationship between leading indicators and desired results, but once done, they will accelerate successful results.
- Direct the team to find the best actions (leading Indicators) to drive the business to the desired results.
- Develop Leading Indicator reports to provide a scorecard for the team’s actions to achieve the individual and team goals.