July 26, 2024
Strategic Management

Strategists – Roles and Levels

by noteswa

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

Entrepreneur:–

  • 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.

Senior management:-

  • 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.

Corporate Planners:-

  • 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.

Consultants:-

  • 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.

 

noteswa

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