The organizational structure that we see in organizations today is prone to subtle transformations as new positions keep making a place a for themselves, while, many become obsolete. And, sometimes, the same position keeps on getting new names.
In this article, there is going to be an emphasis on a designation that has always been there, but, has had various names in the past and is now referred to as the Strategy Manager. Starting from what it means to the responsibilities that it encompasses, I am going to cover everything that is important to be discussed about a strategy manager.
Business Strategy Manager
A business has a set of objectives that are supposed to be achieved in the best possible way and with minimal risk involved in the process. The person who creates a route that needs to be taken in order to achieve these objectives is called a Strategy Manager.
Fundamentally, there is more than one strategy manager in a company and they are responsible for analyzing the company’s goals in the pursuance of separating the realistic ones from others that do not seem achievable. Further, they collaborate with business leaders for constructing strategies that should be followed to accomplish them.
Working a professional business strategy manager is serious business and not everyone can do that. What I mean to say is that this position is not meant for entry-level or even mid-level employees as it is an immensely important duty to carry out growth planning that decides the future of a firm. Therefore, in most companies, Strategy managers are at par with the leading executives.
The Role & responsibilities of a Business Strategy Manager
Though there are several employees involved in deciding the objectives that a company to work towards, however, strategy managers are the topmost responsible people for making sure that those goals are met and the organization moves in the correct direction. The duties that they undertake to attract growth are:
- Data Analysis
As I mentioned earlier, strategy managers provide recommendations as to what way a company must take for getting closer to its objectives, but, this cannot be done without backing up suggestions with factual data. Therefore, data analysis is a big part of a business strategy manager’s job as they have to evaluate the individual organization alongside the whole industry to come up with meaningful conclusions.
- Business goals recommendations
Offering recommendations for business growth is the primary function of a strategy manager and to do that religiously, they have to focus on a plethora of projects that demands from them to build multitude statistical and financial models for making business leaders believe that their investment plans shall entice a certain amount of returns.
- Developing action plans
Once the recommended goals put in front of the board of directors or the organization’s executives are approved, a business strategy manager amalgamates with the leaders of different departments for setting the strategies into motion. This shall involve things like discussing with the finance departments to create budgets or coordinating with the HR professionals for acquiring a certain level of talent for the firm.