A chief strategy officer is a senior executive who assists in the research, design, and implementation of short- and long-term business strategies. He consults with other executives, managers, and employees to come up with the best strategies for achieving goals. A chief strategy officer may focus on improving production efforts, organizing new marketing campaigns, or expanding a company into new industrial and geographical regions, depending on the nature of the company. Strategy officers ensure that their companies thrive employing strong leadership, communication, and reasoning skills.
In every aspect of business, sound planning is required for success, and it is typically up to the strategy officer to make the final decision on whether or not to proceed with a proposal. Officers spend a lot of time reviewing ideas proposed other managers, but they also conduct their own market research and come up with their own strategies for achieving objectives. Before issuing any orders, they carefully consider the risks and benefits of implementing a new policy.
In many companies, besides the executive officer, the chief strategy officer is involved in more aspects of the business than any other professional. He or she might look at production policies to see if new equipment, systems, or labor is required. If a product isn’t selling well, the officer can advise on whether it should be improved, marketed differently, or discontinued entirely. He or she is also responsible for developing effective advertising campaigns, company expansion, and new business acquisitions.
To be successful as a chief strategy officer, a person must possess a number of distinct personal characteristics as well as practical skills. He or she must be able to effectively communicate with other executives, employees, and clients. Because most presentations, documents, and research are done electronically, computer skills are required. A chief strategy officer must also be assertive, rational, organized, and committed to achieving the company’s objectives.
Although there are no specific educational requirements for becoming a chief strategy officer, most large-company executives have master’s degrees or higher in business administration. After gaining several years of experience and performing exceptionally well in middle and upper management positions, an individual may be able to advance to an executive position within a company. A strategy officer may have the opportunity to become a corporation’s chief executive officer or president with continued experience and success in the position.