Strategists – Their Roles & Levels
Who is strategist?
- Strategists are individuals or groups who are primarily involved in the formulation, implementation, and evaluation of Strategy.
- In a limited sense, all managers are Strategists. But we may have outside agencies involved in various aspects of Strategic Management, who are also Strategists.
Board of Directors:-
- Board is an ultimate legal authority of an organisation.
- Board is responsible to owners, share holders, government, controlling agencies, and financial institutes. They get elected and appointed by holding or parent company.
- Board is requires to direct and is involved in reviewing and screening executive decisions in light of their environmental, business and organisational implications.
- Role of Board of Directors is to guide the senior management in setting and accomplishing objectives, reviewing and evaluating organisational performance, and appointing senior executives.
- Board is involved in setting strategic direction, establishing objectives & strategy, monitoring and reviewing achievement
Chief Executive Officer:-
- is responsible for all aspects of strategic management from the formulation to evaluation of strategy.
- CEO plays a pivotal role in setting mission, objectives and goals.
- He formulates and implements strategy and ensures that organisation does not deviate from a predetermined path
- is the person who starts a new business, is a venture capitalist.
- He has to play a proactive role to provide sense of direction, set objectives and formulate strategies.
- He is different from formal system and plays all strategic roles simultaneously.
- consists of higher management level starting from CEO to functional managers and profit centre or SBU heads.
- They are responsible for implementing the strategies and plans and for a periodic evaluation of their performance.
- Organisationally they come together in the form of committees, task forces, work groups, think tanks and play a very important role in Strategic management.
SBU level Executives
SBUs are formed with each business having a clearly defined product – market segment and a unique strategy. They are CEOs for their SBUs and hence SBU level strategy formulation and implementation is their main role.
- It assists management in all aspects of strategy formulation, implementation and evaluation.
- They are responsible for preparation and communication of strategic plans, provides administrative support and plays a measurement and controlling role.
- They do not from strategy and do not initiate a process on their own.
- in absence of a Corporate planning many organisation take an outside help in the form of a consultants or consulting companies.
- Besides providing corporate strategy and strategic planning, they are specialist, knowledgeable, outsider, unbiased and provide objective evaluation.
E.g. AF Ferguson, PWC, KPMG, Mckinsey etc.