Why do some businesses keep thriving while some are stuck in the same position for the last few years? Google, Facebook, Salesforce are some examples of companies that kept growing over the years. The credit, of course, goes to the founders of these companies, but other leaders of these organizations are equally responsible.
For these companies, to thrive, amid increasing complex market dynamics, regulations, competition, has been the primary focus. Growth-centric business strategies have been instrumental in the prosperity of this business. To emulate this growth, other businesses, employ similar strategies that are created and overseen by business strategy leaders.
In a nutshell, business strategy leaders are architects of the future of a business. To do this, they are expected to analyze market, competitors, organization culture, and study other factors that define the growth of a business.
What do strategy leaders do?
The objective of business strategy leaders is to grow a business, which requires them to undertake various tasks —
1. Evaluate organizational culture – A business has several functions working together. It’s important for strategy leaders to know how each function operates and delivers its intended purpose to the organization, so the strategy can be executed smoothly. All in all, strategy officers are guardians of a business, driving the growth of the organization.
2. Market Research – How are competitors positioned in the market and their value proposition is important criteria to consider for the success of a product and increase the bottom-line. Strategy leaders are expected to consider the market aspects of competitors.
3. Take feedback – Strategy leaders take regular feedback from stakeholders and track progress and make necessary amends to keep moving toward the goal. Generally, progress reports and tools are often at this stage that make tracking convenient easier.
How to get started
Becoming a business strategy leader starts at a B-school. Most people in this position are MBA graduates with a holistic experience in running a business.
Start with a business school
Joining a good B-school should be the top priority if you want to become a business strategy leader. B-schools have a dedicated curriculum that you can take to equip yourself with the skills and abilities required to perform good work in this area.
Business strategy certifications are another good option for business executives looking to move to a strategy role. While occupied with work, these certifications are easier to take and learn the ins and out of business strategy.
Some B-schools also offer executive programs that are intended for working business executives and can be taken in the comfort of sitting at home. Professionals with a tight working schedule can benefit from such programs and learn the skills of strategy trade.
Develop skills
Strategic managers require a gamut of skills. Analytical skills and a strategic mindset are pre-requisites to perform well in this role. Strong communication skill is required as strategy officers are required to communicate their ideas clearly with other departments and keep them on track toward the progress. As a strategic manager, collecting, analyzing, and reporting are central tasks to perform the job. Therefore, building key skills would be an important task for business strategy officers.
Additionally, leadership skills – assembling, managing, and leading teams – make an important part of strategy officers’ skills.
Final word
Business strategy officers are growth enablers of business. It requires the officers to be prudent in their approach and practice a high level of discretion in their work. Strategy officers are becoming common to a growth-oriented business that believes the growth of a business is steered by tactical moves. The conundrum is – there’s no easy way to do this.
Strategy officers put their heart and soul to move to do this. Becoming a business development strategy officer depends a lot on your will than the skills you have..
