Strategy Managers are the lifeline of every corporate entity. Planning for the long term is instrumental to the success of any business establishment. A business has to determine its strengths and weaknesses, and in turn, use those to come up with effective strategies that benefit the company in the long run.
Most companies and startups rely on the Chief Executives to come up with strategies for the long-term success of a business. While that works, the primary job of an executive member of a company is not about devising strategies, it’s more about implementing them.
The best professional to devise tactics to help further the goals of a company is the strategy manager. In this article, you’ll learn what a strategy manager means, the job description of a typical strategy manager, and the academic pathway to becoming one in a top establishment.
Strategy Manager Job Description
A strategy manager is a business professional saddled with the tasks of reviewing and identifying flaws in a company’s current strategies and mode of operation. They also come up with strategies for the day-to-day operations of the company to reduce costs and maximize productivity in the workplace.
A strategy manager usually occupies a high-ranking executive post within the organization, thanks to their sensitive and highly impactful position. Becoming a strategy manager is usually possible after years of educational attainments and experience working in an executive position.
In addition to mapping out strategies for the general running of the company, it’s also not uncommon for these professionals to help devise means to improve the performance of employees. These ideas may include but aren’t limited to helping to hire new talents and recommending training programs to improve their pool of knowledge.
Of course, the role of a strategy manager doesn’t end with the above. There are many other functions of an average strategy manager, which vary according to the organization. The following section will outline some of the top roles and responsibilities of the average strategy manager in an organization.
Strategy Manager Roles and Responsibilities
While the introductory part has explained some of the major roles of strategy managers, that’s nowhere near comprehensive. The roles of strategy managers across different companies are a lot more comprehensive, and you should know all if you’re gunning for that position.
To save you the stress of having to scour around the internet in search of the responsibilities of a strategy manager, we’ve collected them for you. Here are some of the roles of a strategy manager in the average organization.
- Strategic planning
A strategy manager is responsible for coming up with plans and proposals on the resources, time, and human capital required to meet organizational goals. They evaluate the priorities of a company and help to assign portions of the resources to achieve the tasks in the best order.
Strategic managers also collaborate with top executives in the company to create a focal point for the company. They also work with the rest of the company staff to achieve all the goals by converting the main focus to actionable plans that the company can follow.
- Data analysis and risk management
Strategy managers are some of the most influential decision-makers in the average organization. To make far-reaching decisions as they do effectively, they’ll need access to plenty of data and the required skills to analyze the data to identify improvement opportunities.
Thanks to their access to data for analysis, strategy managers are usually ahead of the entire management in identifying potential risks to the company. Naturally, they’ll also be expected to suggest ideas to help mitigate the potential effects of the risks that they identify.
- Coaching and employee development
Strategy managers are saddled with the task of improving the quality of the staff in an organization by coming up with the best strategies to train them for enhanced productivity. They’re directly involved in reviewing the importance of employees to a company and how to make them even more productive.
In addition to improving the quality of existing staff through training workshops, strategy managers will also play an active role in hiring new talents for the company. Since they come up with the ground strategy for the company, they’ll also devise new roles and determine what sort of candidate will best fill the role.
Academic Requirements for a Strategy Manager
As with most other professions in existence, there are certain academic requirements for anyone aspiring to become a professional strategy manager. Since this job isn’t IT-focused, a formal college education is necessary to land your first paying job in this career.
However, there are no universities where you can take strategy management as a major. If you’re hoping to become a strategy manager, you’ll have to take a related course and gain relevant experience by working in related roles along the way.
Some of the related courses that will put you on the path to being a strategy manager include risk management, accounting, business policy, and human resources management among others. As said earlier, your soft skills and related experience are far more important than your college major when trying to build a career in strategic management.
Secondary Skills Required for a Strategy Manager
Since there are no universities offering strategy management as a course, your secondary skills will go a long way in helping you build a career in this line. Some of the important soft skills you need to be an effective strategy manager include communication, problem-solving, and analysis skills.
Oral and written communication skills are necessary, as you’ll need to communicate your strategies to the company management in a way. Also, analysis and problem-solving skills are required to even identify the company’s problems and come up with potential solutions in the first place.
Strategy management is fast becoming popular among top companies in the United States, but the fact that schools don’t offer it as a course still makes specific details blurry. In this article, I’ve outlined all you may want to know about strategy management before jumping into the career.
Information like the job description for an average strategy manager, what a strategy manager does, and the academic path to becoming a strategy manager are some of the things discussed in the article.