Duties Of A Corporate Strategy Manager: Key Responsibilities

The Corporate Strategy Manager responsibilities include overseeing strategic plans and ensuring that they are implemented. Read more from the article.

As an emerging function, corporate strategy is still evolving. While many companies now have a chief strategy officer (CSO) on staff or hire consultants to help them develop a strategic plan, few have a dedicated team to execute and monitor that plan on a day-to-day basis. As a result, most strategic initiatives are ad hoc, haphazard efforts that are difficult to track and account for. And most importantly, these initiatives are often disconnected from the rest of the organization, leading to inefficient use of resources. It tends to take different forms in different companies and may have subtle differences depending on the industry. In general, the corporate strategy focuses on identifying and analyzing key business opportunities or threats to inform a companys decision-making processes. Depending on the organization, a corporate strategy manager may have distinct responsibilities and goals that align with the wider scope of the department.

Corporate strategy is often a broad topic that touches all aspects of a companys activities, so it may be helpful to think about how you can contribute to the companys goals by using your unique skills and interests. Depending on the companys size and structure, a corporate strategy manager may have different tasks each day. Its important to have a solid understanding of the companys goals, who your audience is, and how your role contributes to those goals to be successful in this position. As such, these professionals will have their own unique set of job responsibilities and skills needed to succeed in the role. To start your journey into this rewarding field, weve outlined some advice for those hoping to land a corporate strategy manager role. Read on for more details on what it takes to be successful in this field as well as advice from former executives who transitioned from another role into this one.

What is a corporate strategy manager?

A corporate strategy manager uses business analytics to identify and assess key business opportunities or threats. They compile data and research to inform the companys decision-making processes, such as where to invest resources, how to enter new markets, or how to respond to industry disruptors. Corporate strategy managers may also advise the CEO or board of directors on their companys long-term strategy and goals. They may also be involved in managing or leading large projects that require company-wide collaboration, such as mergers or acquisitions. Corporate strategy managers can be found in many industries. Before entering this field, its important to determine if your skills and experience align with the typical job description. This can help you quickly identify if this is the right role for you.

Key responsibilities of a corporate strategy manager

Advance company knowledge through research

A corporate strategy manager should have the ability to collect and assess data that helps the organization make informed decisions. This may include researching the companys competitors, consumers, or the wider industry and having the tools and knowledge needed to make important conclusions. Gathering and analyzing data can be a crucial part of any job, and it can help you to make better business decisions. Whether youre doing this manually or using software, there are a few key ways to make it as efficient as possible. Firstly, make sure you have the right tools for the job whether thats good software or the right knowledge. Secondly, make sure you have a clear plan of what you want to achieve, and how youll go about it. Finally, keep track of everything you do, as this can be incredibly helpful for future reference.

Develop and monitor the companys strategic plan

A corporate strategy manager should also be skilled at creating and monitoring a strategic plan. This plan outlines the companys core objectives, such as increasing profit or growing its customer base. The strategy manager should be able to tailor the plan to the companys unique needs. There should be the option to adjust the plan as market conditions change. If a companys main focus is international expansion, its strategic plan should take that into account. It should also outline the most likely scenarios under which the company could face significant risk. The best strategic plans are dynamic, and they are updated constantly to reflect changes in the marketplace and the companys position in it.

Help shape the companys vision through market research

Corporate strategy managers should also be aware of their customers needs and the broader industry trends. When deciding on a course of action, they should aim to create a long-term win for the company and its stakeholders. For example, if a companys main focus is increasing profits, but its customers are hungry for a new product offering, it must choose the path that allows it to deliver the new product. This can help them inform the companys decisions and vision.

Manage organizational change and employee engagement

In addition to these responsibilities, a corporate strategy manager should be equipped to effectively manage organizational change. This may include managing the companys day-to-day operations and helping to effectively communicate new initiatives and goals. You may be required to compile regular reports, analyze performance metrics, or even train new staff members to help them grow within the company. 

Conclusion

This field requires a combination of skill and experience, as well as a focus on continuous learning. Before you start searching for a corporate strategy manager job, you should be clear about the type of company you want to work for and the type of role that you want to fill. There are many different types of corporate strategy managers, and they all have different responsibilities. You can work in marketing, sales, or business development. You can focus on a specific industry or a variety of industries. You can work in a particular field or industry, or you can be a generalist. You can work at a large corporation or a small business. You can have a fixed-term contract or a permanent position. You can perform your responsibilities in person or remotely. Additionally, you should ensure that you have the necessary skills, experience, and qualifications for the job. When youre ready to start applying for jobs, make sure you have a tailored resume and cover letter to showcase your skills and experience. If youre ready to make a change, this could be the start of an exciting new chapter in your career.