Operations Glossary

Operations Manager

An Operations Manager is responsible for overseeing the day-to-day administrative and operational functions of a business. This role typically involves managing key aspects of production, logistics, and resource allocation. Operations Managers ensure that business operations are efficient and effective, and they often work to improve processes, plan and supervise operational activities, and implement strategies to increase productivity. The Operations Manager often reports to the Director of Operations in a larger business or is the sole operations role in a smaller business.

Director of Operations

The Director of Operations holds a senior position within an organization, overseeing the overall internal operations. They are responsible for designing and implementing business strategies, plans, and procedures. They set comprehensive goals for performance and growth, lead employees to encourage maximum performance, and manage relationships with partners/vendors. This role often requires a high level of decision-making and strategic planning. The Director of Operations could report to the COO or be the primary Operations Lead in a business without a COO.

Full-Time COO

A Full-Time Chief Operating Officer is a key member of the senior management team, responsible for the daily administrative and operational functions of a company. This role involves overseeing the organization’s ongoing operations and procedures, establishing policies that promote company culture and vision, and setting comprehensive goals for performance and growth. A Full-Time COO is typically involved in high-level decision-making and plays a critical role in the company’s overall success and strategic direction.

Fractional COO (Chief Operating Officer)

A Fractional COO is a contract role where an experienced operational leader provides services to a company working directly with the CEO/President/Owner/Founder and their leadership team (or the Operations Manager or Director of Operations, depending on the size of the business), typically on a limited basis. This arrangement is often used by smaller to medium-sized companies or startups that need expert operational guidance but cannot afford or do not require a full-time COO or want to prepare their organization for the successful creation of the COO role as a new position and the onboarding of the person to be hired eventually. The Fractional COO serves in strategic planning, improving operational efficiency, and implementing new processes, while not being a permanent staff member.

Interim COO

An Interim COO is temporarily appointed to fill the chief operating officer role during a period of transition or absence of a permanent COO. This position is crucial for maintaining continuity in the company’s operations and strategy. The Interim COO has full responsibility for the role but is expected to serve for a limited time until a permanent COO is appointed.

Project Manager

A Project Manager is responsible for planning, executing, and finalizing projects within a set timeframe and budget. This includes acquiring resources and coordinating the efforts of team members and third-party contractors or consultants to deliver projects according to plan. The Project Manager also defines the project’s objectives and oversees quality control throughout its life cycle.

Business Coach

A Business Coach provides guidance, support, accountability, and encouragement to business owners and entrepreneurs to help them develop a successful business strategy but does not become involved in execution. They work on refining business models, identifying market opportunities, and developing managerial and technical skills. Business Coaches often help in setting goals, developing action plans, and navigating business challenges to improve the overall performance and health of the business.

Executive Coach

An Executive Coach works with high-level executives, leaders, and managers to help them gain self-awareness, clarify goals, achieve their development objectives, unlock their potential, and act as a sounding board. They are focused on improving leadership skills, organizational effectiveness, performance, and addressing personal developmental issues. Executive Coaching is typically more tailored to the individual and can involve deep psychological insights and leadership skill development.

Business Operating System

A BOS is a comprehensive system of processes and tools that help businesses run more efficiently and effectively. It’s a way of codifying and organizing the many different functions of a business, so that everyone knows what they’re supposed to be doing, and how to do it. A good business operating system will help you streamline your operations, improve communication, increase accountability, measure performance, and foster innovation.

Thrive OpsCycle

The Thrive OpsCycle is a business operating system developed by Thrive Business Operations. It’s a comprehensive framework that encompasses all aspects of a
business, from strategy to operations, finance to marketing, and more. It is based on five core components: Strategy Advance, Deep Dive, Quarterly Sprints, Annual Advance and Continued Growth, and Transition Strategy