An operation like alter table drop column cannot be completed until Oracle acquires an exclusive table level lock meaning nobody else would be able to touch the table while the operation is in progress.

Oracle wouldn't be able to initiate the operation until acquiring such a lock.

The operation itself is very time consuming so for a large table you can expect a large timeframe.

You may want to schedule these kind of operations during scheduled maintenance window.

By the way, alter table drop column is not a "simple operation" -take a look at Oracle documentation and find out all the work Oracle has to perform on the background to complete your command.