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Who's Responsible for Strategic Planning?

• 20 Dec 2022

A business thrives when its leaders can define its vision, execute its strategy, and measure its performance. Strategic planning is key to this process. According to intelligence services company IntelliBridge , however, only 10 percent of organizations successfully implement and execute strategic planning, and 50 percent of leadership teams dedicate little to no time to it.

So, what does strategic planning entail, and who’s responsible for it? The short answer is that it requires involving everyone within an organization, regardless of their career level or experience.

Below, you’ll learn what strategic planning is, how it impacts an organization at every level, and how to successfully create a strategic vision.

Access your free e-book today.

What Is Strategic Planning?

Strategic planning is the ongoing, long-term organizational process that defines a company's goals by using available knowledge to document its intended direction. It’s leveraged to prioritize efforts, allocate resources, align stakeholders and employees on goals, and ensure that data collected supports those goals.

Strategic plans help guide projects’ execution and the daily actions that lead to an organization’s overall success.

According to the online course Business Strategy , taught by Harvard Business School Professor Felix Oberholzer-Gee, strategic plans require four key perspectives: financial, customer, internal, and learning and growth. These perspectives should ask and define the following questions:

• How do our customers view us?
• Where should the company excel?
• Where can we continue to improve and create value for our customers?
• How do our shareholders view us?

In Business Strategy, Oberholzer-Gee says these questions prompt organizations to focus on creating value for customers, employees, and suppliers.

Who Should Be Involved in Strategic Planning?

Leaders and board members execute strategic planning by tying it to their organization’s vision. Managers, individual contributors, and stakeholders also play pivotal roles in decision-making as businesses strive to increase employee engagement .

This process is referred to as “Hoshin Kanri,” a strategic deployment method that helps ensure strategic goals drive success throughout an entire organization. According to Business Strategy , “Hoshin” loosely translates to “purpose” or “direction,” and “Kanri” to “management” or “control.”

“The company’s goal should be to drive widespread employee engagement, so management communicates strategic objectives throughout the organization,” Oberholzer-Gee says in Business Strategy. “By setting short-term goals within a longer-term framework, Hoshin Kanri allows companies to tackle bigger challenges in achievable ways.”

Stakeholders can influence decision-making around operations, sales, and investments, while managers can provide direction and guidance to their direct reports. Individual contributors work toward company goals daily and can offer perspective, insight, and analysis related to ongoing projects.

Here’s a more comprehensive overview of how different roles are involved in an organization’s business strategy .

Senior Leadership & Management

When it comes to strategic planning, senior leaders and managers—such as the CEO, executive team, and board of directors—set the early stages in motion by determining their organization’s vision and the guiding principles behind its mission, ethos, and operational goals. Once those are defined, they set strategic priorities and measure success using key performance indicators (KPIs) .

It’s recommended that leadership teams review their company’s vision and its guiding principles annually and update them every five years. They should also assess and shift smaller goals and KPIs yearly, depending on strategic priorities and performance.

Employees at all levels play critical roles in strategic planning and execution. For instance, department leaders and managers may not be as involved in defining the company’s vision, but they establish goals and KPIs that support it. They must also communicate business strategies and track their success to ensure their team members are aligned.

Individual contributors are essential in strategic planning, too. They help their organization achieve its goals by executing critical day-to-day operations. They’re often tasked with creating action plans that, with guidance from their managers, are rooted in company milestones that directly support strategic planning goals .

Individual contributors are uniquely positioned to offer feedback and data on which daily, monthly, and quarterly tactics are effective. As a result, managers should ask for their feedback and perspective to inform future strategies and ensure they feel valued and empowered.

Related: 7 Ways to Empower Your Employees

Stakeholders

Stakeholders have a vested interest in strategic planning. They can be internal (such as customers, employees, board members, and contractors) or external (such as stock owners, suppliers, vendors, and even governments or local communities).

To determine which stakeholders should be part of strategic planning, leaders must consider who has the greatest “investment” in the company’s success, along with the most influence and interest. For example, a CEO has a high degree of interest and influence, while a department manager may have a high degree of interest but a low level of influence.

Keeping open lines of communication with highly influential and interested stakeholders during the strategic planning process is essential. Since a business strategy must address stakeholders’ needs, company leaders should understand their goals and select the right metrics and KPIs to capture past organizational achievements and predict future performance. Keep this in mind when considering short- and long-term wins for stakeholders.

Strategic Planning Is an Organizational Effort

A company's success often hinges on its leaders, employees, and stakeholders understanding and effectively implementing a strategic plan . Using a strategy that leverages all positions within an organization can create an environment of continuous improvement and customer value .

Are you interested in learning more about strategic planning? Explore our online course Business Strategy and download our free e-book on strategy formulation .

About the Author

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Who’s responsible for what structuring your strategic plan..

Creating a structured strategic plan is essential to the success of a planning process. But, creating responsibility at each level of the plan is absolutely pivotal to the success of a plan.

One of the most frequent questions we coach our clients through is, “how do I structure my plan and who should be responsible for what?” While the answer is usually unique to each organization, we’ve broken down the planning elements and organization structure to give you a handy visual to help guide you to structure your plan and create accountability for plan creation and execution throughout your organization.

Now that you have the overall view, let’s take a deeper dive into the elements.

CEO and Executive Team

The CEO and executive team play a big role in setting the foundation of a strategic plan by creating guiding organizational principles, articulating the strategic areas of focus, and creating the long-term goals that guide the organization to create aligned goals and actions to achieve its vision of success. The executive team is responsible for:

Mission, Vision, & Guiding Principles – These are the core foundational elements to your plan that tell your organization who you are, where you’re going, and how you’re going to operate. These principles encompass your organization’s ethos and help serve as the foundation to your long-term strategy to achieve your vision of success. These are updated every 5 years and reviewed by the executive team annually.

Strategic Priorities – These are the long-term areas of strategic focus that are designed to achieve your vision of long-term success. These create the different pillars of your plan and articulate the focus for each area. These are updated every 5 years and reviewed by the executive team annually.

Organization-Wide Goals and Performance Indicators – These are the long-term goals and performance indicators that begin to put action to paper to help achieve strategic priorities. These goals and actions have a lifespan of 3-5 years, but are reviewed and adapted annually.

Managers/Department Leaders

Managers and department leaders don’t have as much responsibility during the plan creation process, but drive your organization to create the annual department goals that support the organization’s goals and performance indicators. Managers and department leaders are responsible for:

Annual Goals – Department leaders and managers create and execute the annual department goals that align and support the organization-wide goals and performance indicators. These goals are established annually.

Get the Free Guide for Writing Better SMART Goals

Individual contributors.

Individual contributors are your soldiers on the ground tasked with helping drive your strategy from the ground up. They play an essential role in your day-to-day operations, but also in the creation and execution of your strategy. Individual contributors are responsible for:

Supporting Action Items with Milestones – Individual contributors create the supporting action plans with milestones that drive the day-to-day focus on strategy. Each of these action plan milestones tally up to achieve your annual goals. These action plans are completed annually.

Final Thoughts

As you work through building your strategic plan at every level of your organization, it’s important to remember that every player at the table is a key puzzle piece to your plan. Individual contributors play just as big a role as someone on the executive team – and the cascaded responsibility and execution of a plan is what makes strategy execution possible.

Thank you for the highly useful information.

Thank you guys it’s good staff I am getting

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Rethinking the role of the strategist

Many companies have an executive to guide their strategies. The discipline’s professionalization, which began in earnest in the 1980s as it evolved from the chief executive’s domain into a core corporate function, prompted the creation of heads of strategy, strategic-planning directors, and, more recently, chief strategy officers (CSOs). Who better than a professional strategist to help meet the big new uncertainties of the 21st century?

Yet today’s unpredictable environment is utterly incompatible with what, historically, has been one of the chief responsibilities of many strategists: leading the annual strategic-planning process. While nothing new, the weaknesses of traditional strategic planning—characterized by a lockstep march toward a series of deliverables and review meetings according to a rigid annual calendar—have been amplified by the importance of agility in a rapidly changing world. 1 1. Henry Mintzberg wrote about many of these weaknesses in his classic Harvard Business Review article, “Crafting strategy,” more than a quarter century ago. For a recent perspective, see Roger Martin, “The big lie of strategic planning,” Harvard Business Review , January–February 2014, hbr.org.

Strategists have responded by increasing the scope and complexity of their roles beyond planning. In a recent survey of nearly 350 senior strategists representing 25 industries from all parts of the globe, we found an extraordinary diversity of responsibilities (13 by our count). But running the planning process still loomed large, ranking second in priority on that list, even if many respondents said they would prefer to spend significantly less time on this part of their role.

There’s a way out of this box for chief strategists and other senior leaders, particularly CEOs, CFOs, and board members, whose roles are deeply intertwined with the formulation of strategy. The starting point should be thinking differently about what it means to develop great strategy: less time running the planning process and more time engaging broader groups inside and outside the company, going beyond templates and calendars, and mirroring the dynamism of the external environment.

But this isn’t enough. Achieving real impact today requires strategists to stretch beyond strategic planning to develop at least one of a few signature strengths. Several important facets of the strategist’s role emerged from our research, including reallocating corporate resources, building strategic capabilities at key places in the organization, identifying business-development opportunities, and generating proprietary insights on the basis of external forces at work and long-term market trends. A number of these roles are more appropriate for some strategists and organizations than for others. But the core notion of stretching and choosing is relevant for all.

Developing signature strengths

Four years ago, executives around the world told us their companies were creating, by their own admission, substandard strategies. 2 2. In January 2010, McKinsey surveyed 2,135 executives around the world representing the full range of industries, regions, tenures, functional specialties, and company sizes. See Chris Bradley, Martin Hirt, and Sven Smit, “ Have you tested your strategy lately ,” McKinsey Quarterly , January 2011. Only 35 percent were generating strategies that passed more than three of ten tests we use for measuring the likelihood that a given strategy would beat the market. And many respondents blamed the ineffectiveness of the annual strategic-planning processes for the state of their companies’ strategies. 3 3. See Michael Birshan, Renee Dye, and Stephen Hall, “ Creating more value with corporate strategy: McKinsey Global Survey results ,” January 2011.

Since then we’ve sensed, in our work with a wide range of global organizations and strategists, a growing recognition that traditional strategic-planning processes are insufficient to absorb the shocks and disruptions characterizing their markets and to stimulate the ongoing deliberation that a top-management team requires. Increasingly, they recognize a need to rethink their approach to strategic planning and to embrace a more frequent strategic dialogue involving a focused group of senior executives. 4 4. Chris Bradley, Lowell Bryan, and Sven Smit, “ Managing the strategy journey ,” McKinsey Quarterly , July 2012. Effective organizations seem to be transforming strategy development into an ongoing process of ad hoc, topic-specific leadership conversations and budget-reallocation meetings conducted periodically throughout the year. Some organizations have even instituted a more broadly democratic process that pulls in company-wide participation through social-technology and game-based strategy development. 5 5. See Arne Gast and Michele Zanini, “ The social side of strategy ,” McKinsey Quarterly , May 2012.

These experiences are consistent with our own findings. We’ve found that companies that consider themselves “very effective developers of strategy,” and that enjoy higher profitability than their competitors, for example, are twice as likely to review strategy on an ongoing basis (as opposed to say annually or every three to five years). They are, for instance, twice as likely to have a corporate-strategy process that goes beyond the aggregation of business-unit strategies.

Our research also supports one of our major observations about what it takes to innovate in the development and delivery of strategy: over and over, we’ve seen that the chief strategists best at driving more dynamic approaches have a professional credibility that extends well beyond a traditional process-facilitation role. At the same time, we’ve seen tremendous diversity in the characteristics of effective strategists. In a quest for greater precision, we applied statistical cluster analysis to the 13 facets that chief strategists responding to our survey described as most important to their efforts. The analysis yielded five clusters in which the strategist’s role becomes more than the sum of its parts. Widespread across industries, these clusters embody choices that face every strategy leader (exhibit). 6 6. This analysis is based on data from our 2013 survey of nearly 350 senior strategists across the globe in 25 industries ranging from banking to manufacturing.

An analysis of 13 facets of the chief strategist role yielded five clusters, or archetypes, based on a strategist’s signature strengths.

The architect.

These strategists, 40 percent of the executives we surveyed, make the most of their talent for using fact-based analysis to spot industry shifts and to understand their own companies’ sources of competitive advantage as a foundation for clear, differentiated strategies. Organic growth is a core concern, and driving business performance to meet tough organic targets is a critical part of the architect’s role. By monitoring competitors, these strategists can challenge their own organizations to set ambitious targets and reach them. Architects also focus on driving mergers and acquisitions, divestitures, joint ventures, and other opportunities. They may “own” the deal-sourcing and integration teams and work to find the right acquisition targets in line with a strategic vision.

Since this cluster reflects the most traditional part of a strategist’s role, the architect is fairly common. A prototypical architect is the strategist of an oil-and-gas company who recently led a root-and-branch strategic review of her largest business unit. As part of the effort, she built new analytical tools and capabilities to create insight into the true competitive advantage of her business. She is now leading a program to identify potential joint ventures and to continue the pursuit of growth in difficult markets. Another strategist we know has redefined what it means to do strategy in the retail part of his business by creating an analytical and granular view of how each of its “cells” is performing against its plan and the performance of its market. Architects can directly push efforts like these, and they also can stimulate a more broad-based reevaluation of strategy by designing and orchestrating gaming and social spaces where it is developed more democratically.

The mobilizer

An additional 20 percent of CSOs surveyed fall into a mobilizer role, developing the strategic muscle of their companies, building capabilities, and delivering special projects. Mobilizers play critical leadership roles in company-wide efforts to build what one CEO in an operationally intensive industry describes as a “higher organizational IQ on strategy.” Chief strategists in this model focus on ensuring that strategy meetings are truly strategic and that the people involved in those discussions are actually skilled at making them so. They ask the right questions, scrutinize critical assumptions, and ensure that their companies are learning organizations: porous to outside trends and examples. They also make sure that strategy is synthesized in a concise and easy-to-communicate way that organizations can seamlessly translate into action.

A strategist at an aerospace company, for example, runs training programs on core skills, such as how to create a business plan, that key members of the organization need to craft clear, well-informed strategic proposals. Another strategist, in the resources sector, ran a large-scale strategy refresh with a multidisciplinary team from across the organization. The team, made up of representatives from the business analysis, marketing & sales, technology, exploration, and operations units, conducted analyses and strove to reach strategic conclusions. This approach brought direct experience and expertise from the front line to the company’s strategy, which therefore became sharper and more relevant. The process also built the team members’ strategic-thinking skills while enhancing their understanding of how the business creates value and their own role in creating it. Finally, the process helped generate strong support throughout the company for the actions the strategy set out. All team members acted as its champion within their part of the business because of the clear ownership they felt.

In today’s fast-moving markets, strategy is set in the microdecisions made by people throughout the organization every day and not only by the strategy function, wherever it sits. Small wonder then that six out of ten chief strategists wish they could spend more time building capabilities. Mobilizers, on the leading edge of this thrust, are often found in industries whose business models depend heavily on talent.

The visionary

A key strength of visionaries (14 percent of respondents) is trend forecasting, which at its simplest involves scanning the landscape for trends and shocks that may create opportunities or risks for the business. The best visionaries are using the advent of big data to create unique perspectives on where the next growth pocket will come from and, specifically, on what will be needed to serve it. For example, one chemical company built a bespoke model of the fundamental drivers of end markets for its chemicals. Its analysis went right down to projections about how much new commercial floor space would be built in Latin American cities, an input to forecasts about how much demand there could be for the plastics it creates for use in electrical wiring. And some consumer companies can pinpoint exactly which street corner in a city in, say, Brazil will be the most effective place for promoting its premium shampoo rather than its standard brand.

Of course, the goal is more than observation; it’s to spot opportunities for creating unique sources of value that can keep the strategy ahead of external trends and competitors. In our survey, technology and consumer-products strategists were most likely to be visionaries. But visionaries can also succeed in slower-moving industries. We’re acquainted with a chief strategist in the paper industry who recently embarked on a structured program of innovation workshops to identify new products, services, and business models, even in markets that look slower, on average. Well versed in key trends, visionaries are often well placed to run innovation processes.

The surveyor

Surveyors are the 14 percent of strategists who define themselves by spotting potential disruptions and quickly advising their businesses on the impact and opportunity such shifts could produce. These are the people with their eyes on the furthest horizon. Like visionaries, they worry about trends, but their brand of trend spotting focuses on the long-range topics that have the greatest potential to change the way an industry operates and therefore require a response. One surveyor we know in the aerospace industry described his role as being the “long-term health” advocate—identifying the trends, shocks, and competitive behavior that will keep the company around for 100 years.

Given the influence of the state in such matters, surveyors often possess a deep knowledge both of government and of regulatory strategy. They proactively shape the public debate for their industries, informing, monitoring, and responding to opportunities and risks that arise from external stakeholders. The strategists we know in this cluster tend to work in traditionally regulated industries with long planning horizons, such as banking, telecommunications, and utilities, and may have titles that extend beyond strategy to reflect responsibilities for risk or external relations. The activities of a surveyor at an agriculture business include managing its lobbyists, thinking about where to deploy government-relations resources so that they have the greatest impact on the agencies of the company’s national government and on international organizations, and engaging personally with external-stakeholder groups.

The fund manager

Fund managers, who accounted for 12 percent of strategists in our study, emphasize reallocating resources and optimizing the corporate portfolio of their businesses. Focusing on performance, they are dynamic in their approach, thus encouraging their organizations to enter and exit businesses and to nurture and prune their existing portfolios. Fund managers tend to inhabit businesses with portfolios of brands, such as fast-moving consumer-goods companies; portfolios of businesses, such as large industrial conglomerates; or portfolios of capital-intensive assets and projects, such as telecommunications. Banking- and insurance-sector companies are also more likely than most to prefer strategists in the fund-manager cluster, reflecting the need to balance risk and return profiles across a portfolio.

Fund-manager strategists rely on robust analytics that underpin decisions to rebalance the portfolio. However, they also need to invest heavily in decision-making processes and in their personal ability to help leadership teams get beyond their natural bias to maintain the status quo. One new chief strategist—unlike her predecessor, who tended to act as a facilitator—is trying to develop her role into that of a fund manager as she faces a major disruption in her company’s core consumer-goods market. Her top priority now is to help the company’s executive committee make a series of unfamiliar and uncomfortable choices to reallocate resources away from traditional cash cows and into a disruptive technology that represents the future of the business.

Above and beyond

Regardless of which profile best fits the needs of a company and its leadership team, three broader issues bear consideration for organizations and strategists seeking to raise their strategic game: career background, resource reallocation, and prioritization.

Why career background matters

While nobody wants to be a prisoner of the past, the familiar is comforting, especially when starting a new and often very wide-ranging role. Many new strategists therefore gravitate to what they know already—a trap that requires an alert and honest self-assessment to avoid.

Chief strategists who are former investment bankers, for example, are 2.5 times more likely to focus on business development than the average strategist. Former project leaders are two times more likely to prioritize the project-delivery facets of the chief strategist’s role. Although a company driving a strategic M&A program may find it advantageous to choose a former investment banker as chief strategist, he or she must be careful to avoid overemphasizing familiar mind-sets and activities.

The data from our survey suggest that basing priorities on prior experience doesn’t necessarily correlate with better strategic performance. For example, among former project leaders who prioritize the project-delivery facet of their role as strategists, only 20 percent feel that their strategy is actually effective, compared with 51 percent of all respondents.

Resources, resources, resources

Whichever type of strategist you may be, or need to be, a shift in the way your company allocates its resources must accompany its strategy. McKinsey research shows that companies tend to allocate 90 percent or more of their resources to the same places year after year, regardless of changes in the environment or their strategies. 7 7. Stephen Hall, Dan Lovallo, and Reinier Musters, “ How to put your money where your strategy is ,” McKinsey Quarterly , March 2012. Dynamic companies that reallocate resources more actively deliver better, less volatile annual returns to shareholders, on average, 8 8. See Michael Birshan, Marja Engel, and Olivier Sibony, “ Avoiding the quicksand: Ten techniques for more agile corporate resource allocation ,” McKinsey Quarterly , October 2013; and Stephen Hall and Conor Kehoe, “ How quickly should a new CEO shift corporate resources? ,” McKinsey Quarterly , October 2013. than their more dormant counterparts—particularly during economic downturns. 9 9. See Mladen Fruk, Stephen Hall, and Devesh Mittal, “ Never let a good crisis go to waste ,” McKinsey Quarterly , October 2013.

Whether or not chief strategists measure this, they intuitively know it. Some 40 percent of those surveyed cite concerns about translating strategy to action. In particular, linking it to budgets and objectives is their top concern. Yet only 10 percent include resource reallocation among the top three facets of their role. Of the few chief strategists who do prioritize it, only 24 percent feel they do so very effectively—the lowest percentage of any facet. The strategist for a minerals company astutely remarks that, along with building strategic capabilities, “the resource-reallocator role is always critical, since it defines how to execute the strategy. Without it, you just have a good strategy paper.” By fighting inertia in resource allocation, strategists can go a long way toward making strategies stick.

Prioritize!

Implicit in effective resource allocation is prioritization—a critical need for strategists more broadly as the potential scope of their roles continues to widen. Our survey shows that chief strategists are up to four times more effective at the facets of the specific role they prioritize.

To cut through a potentially vast scope of responsibilities, chief strategists, and those who hire them, need to make choices. What drives these choices will depend on the unique circumstances of the organization and, to some extent, the capabilities of individual strategists and their partners on senior-executive teams. A chief strategist may be better placed to take on certain roles that have historically been part of the mandate of other executives, and as CSOs carve out their role, they will need to facilitate a reshuffling of responsibilities within the executive team. For example, a strategist whose priority is to be a fund manager may wish to own the company’s resource-allocation map, which might currently be within the responsibilities of the CFO as part of the budgeting process. (The same could be true in reverse for a CFO assuming greater strategic responsibility.)

Having explicit conversations about expectations and the division of roles and responsibilities across the executive team will improve its dynamics and make the organization as a whole more effective. The chief strategist’s role is partly about setting the mandate for a job that can mean many things in different organizations. These conversations should take place when a new strategist takes over and when the needs of the organization change and it makes sense to reassess priorities. A critical place to start is deciding whether the strategist will shape and run the process that generates the strategy or will instead take responsibility for crafting the strategy itself on behalf of the senior team. A related issue for the CEO, board, and other executives concerned with the quality of the company’s strategic direction is who owns the organization’s resource-reallocation and strategic capability-building efforts. If a hard look in the mirror reveals that these roles aren’t owned elsewhere or aren’t managed effectively, that too can influence the priorities of strategists, including tough questions about whether or not their strengths will lead them to emerge as strong fund managers or mobilizers.

The complexity of today’s strategic landscape places a premium on good strategy. And just as crafting strategy requires tough choices, so does shaping the role of the strategist. The good news, according to our research, is that strategists have a range of powerful options for adding value to their organizations, and nearly 90 percent of the strategists responding to our survey thought they were effective at the elements of the role they prioritized. The bad news is that over time it’s easy for mismatches to develop between those areas of focus and a company’s strategic needs. By identifying those mismatches and reprioritizing accordingly, strategists, chief executives, and other members of the top team can boost the quality of their strategic insights and actions.

Michael Birshan is a principal in McKinsey’s London office, where Emma Gibbs is an associate principal; Kurt Strovink is a director in the New York office.

The authors would like to acknowledge the contributions of Ankur Agrawal, Treina Fabré, Sven Smit, and Blair Warner to this article.

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• What is strategic planning? A 5-step gu ...

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Strategic planning is a process through which business leaders map out their vision for their organization’s growth and how they’re going to get there. In this article, we'll guide you through the strategic planning process, including why it's important, the benefits and best practices, and five steps to get you from beginning to end.

Strategic planning is a process through which business leaders map out their vision for their organization’s growth and how they’re going to get there. The strategic planning process informs your organization’s decisions, growth, and goals.

Strategic planning helps you clearly define your company’s long-term objectives—and maps how your short-term goals and work will help you achieve them. This, in turn, gives you a clear sense of where your organization is going and allows you to ensure your teams are working on projects that make the most impact. Think of it this way—if your goals and objectives are your destination on a map, your strategic plan is your navigation system.

In this article, we walk you through the 5-step strategic planning process and show you how to get started developing your own strategic plan.

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What is strategic planning?

Strategic planning is a business process that helps you define and share the direction your company will take in the next three to five years. During the strategic planning process, stakeholders review and define the organization’s mission and goals, conduct competitive assessments, and identify company goals and objectives. The product of the planning cycle is a strategic plan, which is shared throughout the company.

What is a strategic plan?

A strategic plan is the end result of the strategic planning process. At its most basic, it’s a tool used to define your organization’s goals and what actions you’ll take to achieve them.

Typically, your strategic plan should include: 

Your company’s mission statement

Your organizational goals, including your long-term goals and short-term, yearly objectives

Any plan of action, tactics, or approaches you plan to take to meet those goals

What are the benefits of strategic planning?

Strategic planning can help with goal setting and decision-making by allowing you to map out how your company will move toward your organization’s vision and mission statements in the next three to five years. Let’s circle back to our map metaphor. If you think of your company trajectory as a line on a map, a strategic plan can help you better quantify how you’ll get from point A (where you are now) to point B (where you want to be in a few years).

When you create and share a clear strategic plan with your team, you can:

Build a strong organizational culture by clearly defining and aligning on your organization’s mission, vision, and goals.

Align everyone around a shared purpose and ensure all departments and teams are working toward a common objective.

Proactively set objectives to help you get where you want to go and achieve desired outcomes.

Promote a long-term vision for your company rather than focusing primarily on short-term gains.

Ensure resources are allocated around the most high-impact priorities.

Define long-term goals and set shorter-term goals to support them.

Assess your current situation and identify any opportunities—or threats—allowing your organization to mitigate potential risks.

Create a proactive business culture that enables your organization to respond more swiftly to emerging market changes and opportunities.

What are the 5 steps in strategic planning?

The strategic planning process involves a structured methodology that guides the organization from vision to implementation. The strategic planning process starts with assembling a small, dedicated team of key strategic planners—typically five to 10 members—who will form the strategic planning, or management, committee. This team is responsible for gathering crucial information, guiding the development of the plan, and overseeing strategy execution.

Once you’ve established your management committee, you can get to work on the planning process. 

Step 1: Assess your current business strategy and business environment

Before you can define where you’re going, you first need to define where you are. Understanding the external environment, including market trends and competitive landscape, is crucial in the initial assessment phase of strategic planning.

To do this, your management committee should collect a variety of information from additional stakeholders, like employees and customers. In particular, plan to gather:

Relevant industry and market data to inform any market opportunities, as well as any potential upcoming threats in the near future.

Customer insights to understand what your customers want from your company—like product improvements or additional services.

Employee feedback that needs to be addressed—whether about the product, business practices, or the day-to-day company culture.

Consider different types of strategic planning tools and analytical techniques to gather this information, such as:

A balanced scorecard to help you evaluate four major elements of a business: learning and growth, business processes, customer satisfaction, and financial performance.

A SWOT analysis to help you assess both current and future potential for the business (you’ll return to this analysis periodically during the strategic planning process). 

To fill out each letter in the SWOT acronym, your management committee will answer a series of questions:

What does your organization currently do well?

What separates you from your competitors?

What are your most valuable internal resources?

What tangible assets do you have?

What is your biggest strength? 

Weaknesses:

What does your organization do poorly?

What do you currently lack (whether that’s a product, resource, or process)?

What do your competitors do better than you?

What, if any, limitations are holding your organization back?

What processes or products need improvement? 

Opportunities:

What opportunities does your organization have?

How can you leverage your unique company strengths?

Are there any trends that you can take advantage of?

How can you capitalize on marketing or press opportunities?

Is there an emerging need for your product or service? 

What emerging competitors should you keep an eye on?

Are there any weaknesses that expose your organization to risk?

Have you or could you experience negative press that could reduce market share?

Is there a chance of changing customer attitudes towards your company? 

Step 2: Identify your company’s goals and objectives

To begin strategy development, take into account your current position, which is where you are now. Then, draw inspiration from your vision, mission, and current position to identify and define your goals—these are your final destination. 

To develop your strategy, you’re essentially pulling out your compass and asking, “Where are we going next?” “What’s the ideal future state of this company?” This can help you figure out which path you need to take to get there.

During this phase of the planning process, take inspiration from important company documents, such as:

Your mission statement, to understand how you can continue moving towards your organization’s core purpose.

Your vision statement, to clarify how your strategic plan fits into your long-term vision.

Your company values, to guide you towards what matters most towards your company.

Your competitive advantages, to understand what unique benefit you offer to the market.

Your long-term goals, to track where you want to be in five or 10 years.

Your financial forecast and projection, to understand where you expect your financials to be in the next three years, what your expected cash flow is, and what new opportunities you will likely be able to invest in.

Step 3: Develop your strategic plan and determine performance metrics

Now that you understand where you are and where you want to go, it’s time to put pen to paper. Take your current business position and strategy into account, as well as your organization’s goals and objectives, and build out a strategic plan for the next three to five years. Keep in mind that even though you’re creating a long-term plan, parts of your plan should be created or revisited as the quarters and years go on.

As you build your strategic plan, you should define:

Company priorities for the next three to five years, based on your SWOT analysis and strategy.

Yearly objectives for the first year. You don’t need to define your objectives for every year of the strategic plan. As the years go on, create new yearly objectives that connect back to your overall strategic goals . 

Related key results and KPIs. Some of these should be set by the management committee, and some should be set by specific teams that are closer to the work. Make sure your key results and KPIs are measurable and actionable. These KPIs will help you track progress and ensure you’re moving in the right direction.

Budget for the next year or few years. This should be based on your financial forecast as well as your direction. Do you need to spend aggressively to develop your product? Build your team? Make a dent with marketing? Clarify your most important initiatives and how you’ll budget for those.

A high-level project roadmap . A project roadmap is a tool in project management that helps you visualize the timeline of a complex initiative, but you can also create a very high-level project roadmap for your strategic plan. Outline what you expect to be working on in certain quarters or years to make the plan more actionable and understandable.

Step 4: Implement and share your plan

Now it’s time to put your plan into action. Strategy implementation involves clear communication across your entire organization to make sure everyone knows their responsibilities and how to measure the plan’s success. 

Make sure your team (especially senior leadership) has access to the strategic plan, so they can understand how their work contributes to company priorities and the overall strategy map. We recommend sharing your plan in the same tool you use to manage and track work, so you can more easily connect high-level objectives to daily work. If you don’t already, consider using a work management platform .  

A few tips to make sure your plan will be executed without a hitch: 

Communicate clearly to your entire organization throughout the implementation process, to ensure all team members understand the strategic plan and how to implement it effectively. 

Define what “success” looks like by mapping your strategic plan to key performance indicators.

Ensure that the actions outlined in the strategic plan are integrated into the daily operations of the organization, so that every team member's daily activities are aligned with the broader strategic objectives.

Utilize tools and software—like a work management platform—that can aid in implementing and tracking the progress of your plan.

Regularly monitor and share the progress of the strategic plan with the entire organization, to keep everyone informed and reinforce the importance of the plan.

Establish regular check-ins to monitor the progress of your strategic plan and make adjustments as needed. 

Step 5: Revise and restructure as needed

Once you’ve created and implemented your new strategic framework, the final step of the planning process is to monitor and manage your plan.

Remember, your strategic plan isn’t set in stone. You’ll need to revisit and update the plan if your company changes directions or makes new investments. As new market opportunities and threats come up, you’ll likely want to tweak your strategic plan. Make sure to review your plan regularly—meaning quarterly and annually—to ensure it’s still aligned with your organization’s vision and goals.

Keep in mind that your plan won’t last forever, even if you do update it frequently. A successful strategic plan evolves with your company’s long-term goals. When you’ve achieved most of your strategic goals, or if your strategy has evolved significantly since you first made your plan, it might be time to create a new one.

Build a smarter strategic plan with a work management platform

To turn your company strategy into a plan—and ultimately, impact—make sure you’re proactively connecting company objectives to daily work. When you can clarify this connection, you’re giving your team members the context they need to get their best work done. 

A work management platform plays a pivotal role in this process. It acts as a central hub for your strategic plan, ensuring that every task and project is directly tied to your broader company goals. This alignment is crucial for visibility and coordination, allowing team members to see how their individual efforts contribute to the company’s success. 

By leveraging such a platform, you not only streamline workflow and enhance team productivity but also align every action with your strategic objectives—allowing teams to drive greater impact and helping your company move toward goals more effectively. 

Strategic planning FAQs

Still have questions about strategic planning? We have answers.

Why do I need a strategic plan?

A strategic plan is one of many tools you can use to plan and hit your goals. It helps map out strategic objectives and growth metrics that will help your company be successful.

When should I create a strategic plan?

You should aim to create a strategic plan every three to five years, depending on your organization’s growth speed.

Since the point of a strategic plan is to map out your long-term goals and how you’ll get there, you should create a strategic plan when you’ve met most or all of them. You should also create a strategic plan any time you’re going to make a large pivot in your organization’s mission or enter new markets. 

What is a strategic planning template?

A strategic planning template is a tool organizations can use to map out their strategic plan and track progress. Typically, a strategic planning template houses all the components needed to build out a strategic plan, including your company’s vision and mission statements, information from any competitive analyses or SWOT assessments, and relevant KPIs.

What’s the difference between a strategic plan vs. business plan?

A business plan can help you document your strategy as you’re getting started so every team member is on the same page about your core business priorities and goals. This tool can help you document and share your strategy with key investors or stakeholders as you get your business up and running.

You should create a business plan when you’re: 

Just starting your business

Significantly restructuring your business

If your business is already established, you should create a strategic plan instead of a business plan. Even if you’re working at a relatively young company, your strategic plan can build on your business plan to help you move in the right direction. During the strategic planning process, you’ll draw from a lot of the fundamental business elements you built early on to establish your strategy for the next three to five years.

What’s the difference between a strategic plan vs. mission and vision statements?

Your strategic plan, mission statement, and vision statements are all closely connected. In fact, during the strategic planning process, you will take inspiration from your mission and vision statements in order to build out your strategic plan.

Simply put: 

A mission statement summarizes your company’s purpose.

A vision statement broadly explains how you’ll reach your company’s purpose.

A strategic plan pulls in inspiration from your mission and vision statements and outlines what actions you’re going to take to move in the right direction. 

For example, if your company produces pet safety equipment, here’s how your mission statement, vision statement, and strategic plan might shake out:

Mission statement: “To ensure the safety of the world’s animals.” 

Vision statement: “To create pet safety and tracking products that are effortless to use.” 

Your strategic plan would outline the steps you’re going to take in the next few years to bring your company closer to your mission and vision. For example, you develop a new pet tracking smart collar or improve the microchipping experience for pet owners. 

What’s the difference between a strategic plan vs. company objectives?

Company objectives are broad goals. You should set these on a yearly or quarterly basis (if your organization moves quickly). These objectives give your team a clear sense of what you intend to accomplish for a set period of time. 

Your strategic plan is more forward-thinking than your company goals, and it should cover more than one year of work. Think of it this way: your company objectives will move the needle towards your overall strategy—but your strategic plan should be bigger than company objectives because it spans multiple years.

What’s the difference between a strategic plan vs. a business case?

A business case is a document to help you pitch a significant investment or initiative for your company. When you create a business case, you’re outlining why this investment is a good idea, and how this large-scale project will positively impact the business. 

You might end up building business cases for things on your strategic plan’s roadmap—but your strategic plan should be bigger than that. This tool should encompass multiple years of your roadmap, across your entire company—not just one initiative.

What’s the difference between a strategic plan vs. a project plan?

A strategic plan is a company-wide, multi-year plan of what you want to accomplish in the next three to five years and how you plan to accomplish that. A project plan, on the other hand, outlines how you’re going to accomplish a specific project. This project could be one of many initiatives that contribute to a specific company objective which, in turn, is one of many objectives that contribute to your strategic plan. 

What’s the difference between strategic management vs. strategic planning?

A strategic plan is a tool to define where your organization wants to go and what actions you need to take to achieve those goals. Strategic planning is the process of creating a plan in order to hit your strategic objectives.

Strategic management includes the strategic planning process, but also goes beyond it. In addition to planning how you will achieve your big-picture goals, strategic management also helps you organize your resources and figure out the best action plans for success. 

Related resources

Grant management: A nonprofit’s guide

How Asana uses work management to optimize resource planning

How Asana uses work management for organizational planning

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Manager of Strategic Planning

Job summary:.

The Manager of Strategic Planning will develop and direct the strategic and long-range goals of the organization including proposals to enter new markets and to expand existing market presence.

Supervisory Responsibilities:

• Recruits, interviews, hires, and trains new staff in the department.
• Oversees the daily workflow of the department.
• Provides constructive and timely performance evaluations.

Duties/Responsibilities:

• Collaborates with executives and managers to develop long-range, strategic goals for the organization.
• Identifies and reviews pricing and market trends; analyzes and applies this information in development of strategies for individual market segments.
• Monitors business climate, trends in technology and development, and government activity in areas of the companys current and anticipated product lines.
• Leads trials concerning new business initiatives, pilot programs, and regional rollouts; based on results, makes, recommends, and implements adjustments and modifications.
• Collaborates with business unit administration and line managers to produce business and product plans that are profitable; evaluates these plans on a periodic basis.
• Serves as negotiator with third parties for potential mergers or product acquisitions.
• Performs other related duties as assigned.

Required Skills/Abilities:

• Excellent verbal and written communication skills.
• Thorough understanding of business administration, management, and business forecasting strategies and techniques.
• Excellent interpersonal and negotiation skills.
• Excellent organizational skills and attention to detail.
• Strong analytical and problem-solving skills.
• Strong supervisory and leadership skills.
• Proficient with Microsoft Office Suite or related software.

Education and Experience:

• Bachelors degree in Business, Marketing, or industry-related field required; MBA highly preferred.
• At least five years of experience in the industry or acting as a consultant on major strategic planning projects required.

Physical Requirements:

• Prolonged periods of sitting at a desk and working on a computer.
• Must be able to lift 15 pounds at times.

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Strategic Planner Job Description

A strategic planner identifies the long and short-term goals of the company and develops strategies to accomplish these goals.

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Strategic Planner Job Description Template

We are looking for a results-driven strategic planner to assess the short and long-term goals of our company and suggest ways to accomplish them. The strategic planner is also responsible for conducting market research and analyzing industry trends.

To be successful as a strategic planner, you must have excellent analytical skills. A good strategic planner is able to use sound logic to make observations about the company's current methods and where improvements are needed.

Strategic Planner Responsibilities:

• Assessing the company's goals.
• Identifying areas where improvements can be made in the company.
• Researching industry trends.
• Conducting market research.
• Preparing reports on strategy ideas for senior management.
• Presenting research findings to senior management.
• Assessing sales metrics to gauge the success of new strategies.

Strategic Planner Requirements:

• A degree in business, finance, marketing, or a related field.
• Prior experience as a strategic planner or business analyst.
• Excellent interpersonal and communication skills.
• Excellent knowledge of industry strategies.
• Ability to problem-solve.
• Ability to interpret relevant data.

Related Articles:

Strategic planner interview questions, strategy manager job description, strategy manager interview questions, brand strategist job description, brand strategist interview questions.

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Corporate Planning Job Description

Corporate planning duties & responsibilities.

To write an effective corporate planning job description, begin by listing detailed duties, responsibilities and expectations. We have included corporate planning job description templates that you can modify and use.

Sample responsibilities for this position include:

Corporate Planning Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Corporate Planning

List any licenses or certifications required by the position: MBA, CPA, APICS, CIA, CA, PMP, CMA, CSCP, CPIM, RA

Education for Corporate Planning

Typically a job would require a certain level of education.

Employers hiring for the corporate planning job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Finance, Accounting, Business, MBA, Economics, Business/Administration, Engineering, Education, Management, Statistics

Skills for Corporate Planning

Desired skills for corporate planning include:

Desired experience for corporate planning includes:

Corporate Planning Examples

• Microsoft Word (.docx) .DOCX
• PDF Document (.pdf) .PDF
• Image File (.png) .PNG
• Seek opportunities to automate & improve financial reporting, forecasting, and month-end close processes
• Create new reports to track new incentives evolve reporting to a more centralized and interactive tool
• Prepare Management Discussion and Analysis section of SEC filings
• Prepare information for Audit & Finance Committee of the Board of Directors
• Ensure accuracy of earning release and earnings call scripts
• Support Investor Relations and Public Relations teams
• Manage monthly management reporting for Executive Committee and majority shareholder
• Act as a liaison with IT to ensure optional set up of consolidation systems for management reporting
• Contribute to the analysis for the Board of Director meetings
• Lead an efficient, thorough and insightful planning process
• Develop an understanding of Item Life Cycle in electronic retailing
• Learn how to write a show to attain sales and margin plans
• Used English for business
• Strong business partnership, collaboration and influence skills
• Highly motivated proactive individual and team player with ability to lead and manage various work streams
• Ability to collaborate with other teams in the organization
• Responsible for analyzing and track current and forecasted capital expenditures
• Lead capital budgeting and management, inventory, sales/ mix analysis, new products business case development
• Responsible for creating & maintaining planning tools, summaries & associated analysis, including global consolidation for Product Divisions and Regions, members of the Senior Leadership Team
• Ensure/Coordinate landlord/retailer criteria have been received and logged to the Corporate Retail Development Platform
• Coordinate and ensure all projects are accurately loaded in to the Corporate Retail Development Platform and maintain its status on a daily basis
• Process/maintain/log all purchase orders and related invoices
• Maintaining a strong working relationship with the brands, Corporate Real Estate and Finance, Corporate Retail Store Education, Corporate Store Planning + Development Canada and retail partners
• Assist in the production and coordination of the FR Y-14A forms, rule interpretation and documentation
• Produce critical data to support the strategic and business planning (SBP) process at OSTA
• Provide five-year financial plan, incorporate business trends, integrate new product and value engineering valuations
• Ability to comprehend business issues and develop coherent & comprehensive business solutions
• BPC 10 experience preferred – or other financial planning software
• Knowledge or experience with Real Estate and/or Construction industry preferred
• Ability to work under tight deadlines, handle multiple tasks and varied personalities with diplomacy, tact, good judgment, patience and flexibility
• Experience in Long Range Financial Planning and Budgeting
• 5 to 10 years experience in a Financial Planning & Analysis
• Ensure an effective framework exists for managing and diagnosing company and business unit progress against objectives
• Provide concise feedback to all levels of management regarding performance against annual KPIs
• Partner cross-functionally with sites to align on detailed action plans to avoid or overcome issues
• Develop a thorough knowledge of business partners’ needs in order to provide customized and relevant input in the building of financial models
• Accountable to maintain and/or develop financial models and seek continuous improvement that would reduce risks
• Educate business partners on financial analysis models and processes
• Participate as a subject matter expert in special projects and provide ad hoc analysis as required
• Analyze sales performance, gross margin performance cost trends
• Oversee quarterly forecast process annual budget preparation
• Ownership of the firm non-compensation CCAR Model and business unit coordination, communication and documentation
• Must be able to relocate to Peoria, IL area for the duration of the internship and complete daily work commute using reliable transportation
• 15+ years of business/ finance related
• Bachelor’s degree with emphasis on coursework of a quantitative nature, preferably Economics, Mathematics
• Engineering or related fields
• Proficiency in Hyperion Smartview or similar tool
• While based in Melville, this position will require regular travel to the NYC based company operations
• Partner with key senior stakeholders to define strategic plans, actions and capability gap assessments
• Help coordinate Corporate Strategic Discussions on key initiatives/topics
• Coordinate timelines and reporting requirements for the planning and quarterly projection process
• Partner with and provide superior customer service to divisional controllers and finance managers to ensure smooth execution of plan and projection cycles
• Analyze Corporate and Divisional plans/projections to identify material trends
• Prepare consolidated financial statements and presentation materials for Management
• Develop Corporate Profit and Loss and Balance Sheet for plan, projection and long range plan
• Coordinate plan and projection data for company owned distributor(s)
• Assist corporate cost center managers with budgeting, projections and in obtaining approval for capital
• Assist and train corporate personnel in preparing ROI’s and lease vs
• 3+ Years in an administrative/coordinator role, financial and systems experience preferred
• Knowledge or experience with Real Estate and/or Construction industry helpful
• Must have excellent command of writing, reading and speaking English and Japanese
• Master of Business Administration from an accredited institution
• Candidates must be legally authorized to work in US without company sponsorship now or in the future
• Master of Business Administration from a top tier business school preferred
• In-depth experience utilizing software tools (Excel, Tableau) to effectively present graphs, reports, and dashboards
• Manage and develop KTI unit budgeting and planning process
• Contribute to the development of the KTI Financial metrics and KPI’s
• Create high quality, visual financial presentations with analytical focus on business performance
• Develop analysis methodologies to value R&D and IT investment proposals
• Manage a portfolio of projects that aim to develop financial planning and analysis tools and methods for KTI
• Investigating and updating metrics
• Reconciliation of various reporting
• Assisting with the implementation of Qlik project
• Other ad hoc projects that may arise
• BA degree with an emphasis in analytical disciplines (Finance and/or Accounting) is preferred
• Minimum of 10 years business planning and financial management experience is required
• Minimum of 3 years in both corporate planning and division finance experience is preferred
• Minimum of 4 years supervisory or management experience is essential
• Must have achievements demonstrating strategic thinking the ability to lead initiatives through implementation
• Strong oral and written communication skills are esential

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Strategic Planning Manager

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Strategic Planning Manager manages the analytical and research activities supporting an organization's strategic, short-term, and long-range goal planning function. Oversees data collection and conducts organizational reviews to identify the business's strengths and weaknesses and evaluate operational effectiveness. Being a Strategic Planning Manager leads the research of emerging trends, expansion opportunities, competitive threats, and the viability of outside business partners. Develops recommendations for internal business process improvement. Additionally, Strategic Planning Manager designs and executes methods to track and measure organizational performance data to use for planning. Requires a bachelor's degree. Typically reports to a director. The Strategic Planning Manager manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. To be a Strategic Planning Manager typically requires 5 years experience in the related area as an individual contributor. 1 - 3 years supervisory experience may be required. Extensive knowledge of the function and department processes.

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Strategy Manager: Job Description and Responsibilities

In recent years, the role of a Strategy Manager has gained significant importance in the business world. Strategy Manager, also known as Strategic Planning Manager, is a key executive position responsible for driving an organization’s overall strategy and ensuring business success. In this article, we will explore the definition of a Strategy Manager, discuss the importance of their role within an organization, and explore why this position is becoming increasingly in demand.

Definition of Strategy Manager

A Strategy Manager is an experienced professional responsible for developing and executing strategies to achieve a company’s long-term goals. They are responsible for analyzing market trends, conducting competitive research, and identifying new business opportunities. They also work closely with executive leadership to align strategy with overall company goals and objectives.

In addition to their analytical skills, Strategy Managers must also possess excellent communication and leadership abilities, as their role often requires them to communicate complex information to stakeholders at all levels.

Importance of Strategy Manager in an Organization

The importance of a Strategy Manager within an organization cannot be overstated. These individuals play a vital role in overall business success, working to ensure that a company is operating efficiently and effectively, and can adapt to changing market conditions.

A Strategy Manager’s responsibilities may vary depending on the industry, size of the company, and the organization’s goals, but typically their core responsibilities include:

• Developing and implementing strategic plans that align with long-term goals
• Conducting market research and identifying areas of opportunity for growth
• Analyzing financial data to identify trends and make informed decisions
• Managing cross-functional teams to ensure that initiatives are executed seamlessly
• Communicating with stakeholders to ensure that everyone is aligned and working towards the same goals

Without a strong Strategy Manager, an organization may lack direction, struggle to compete in the market, and be unable to navigate changing conditions effectively.

Why is Strategy Manager in Demand?

As the business environment becomes increasingly complex and globalized, the need for experienced Strategy Managers is steadily increasing. Companies understand the value of having a strong strategic vision to ensure growth and success in a rapidly changing market.

Additionally, as technology continues to evolve, strategy managers play a critical role in helping organizations adapt to new trends such as digitalization and automation.

In an industry where businesses must be agile and responsive to changes in the market, a strong strategy manager is a valuable asset. That is why the role of Strategy Manager is in high demand, and the competition for the best candidates is intensifying.

The Strategy Manager position is a key driver of business success. The right person in this role has the ability to formulate and execute a vision that can impact a company’s success for years to come. As businesses continue to face new challenges and opportunities, the role of the Strategy Manager is only set to become more critical.

Educational Qualifications for Strategy Manager

To become a successful strategy manager, you need to have a solid educational background. A typical requirement for a strategy manager position is a master’s degree in business administration (MBA) or a related field. However, an equivalent degree from an accredited institution is also acceptable.

The candidate’s educational qualifications should provide them with the foundational knowledge necessary to understand the complexities of strategy management, including strategic planning, risk management, and market analysis. An MBA or a masters in a related field equips the candidate with a deep understanding of the business environment, including the economic, financial, and organizational complexities that strategy managers must navigate.

In addition to a post-graduate degree, a candidate pursuing a strategy manager role should also have relevant certifications in strategy management. Certification programs equip candidates with the necessary skills and expertise to better understand the intricacies of developing and implementing successful business strategies.

Certifications in strategy management may include short term courses, workshops, or extensive training programs, providing candidates with a deeper understanding of the subject matter. While there is no single certification program that is mandatory, relevant certificates from reputable institutions can enhance the candidate’s applicant profile.

Some organizations prefer candidates with deeper knowledge and experience in different industries, and in such a case, the candidate may seek industry-specific certifications. Such certifications provide specialized knowledge and position the candidate as an expert in their field.

Candidates who aspire to pursue a career in strategy management must possess a strong educational background and certification in the subject matter. Obtaining relevant qualifications and certifications will equip them with the skills they need to develop and implement successful business strategies.

Key skills and competencies required for Strategy Manager

Being a successful Strategy Manager requires possessing a combination of skills and competencies that allow them to effectively lead and execute strategic planning efforts. The following are some of the key skills and competencies required for Strategy Manager.

Critical thinking skills

The ability to think critically and analyze complex problems is a critical skill for Strategy Managers. They must be able to dissect and evaluate large amounts of information to identify patterns, trends, and connections that inform strategic decision-making.

Analytical skills

Strategy Managers must be skilled in data analysis to identify key performance indicators, track progress against goals, and assess the effectiveness of strategies. They need to be able to assess information quickly and accurately and devise solutions that will drive business outcomes.

Strategic planning and execution skills

The ability to create and execute strategic plans is essential for Strategy Managers. They need to be adept at identifying company goals and setting priorities, as well as developing strategies and tactics to achieve these goals. An essential aspect of effective strategic planning is the ability to break down complex plans into manageable tasks that are executed efficiently.

Leadership qualities

Leadership qualities are a must-have for successful Strategy Managers. They need to have excellent communication and interpersonal skills, the ability to motivate and inspire teams, and a talent for building relationships both within and outside the organization. They must foster a culture of innovation, encourage creativity and foster an environment that nurtures and develops talent.

Communication and interpersonal skills

As a key member of a leadership team, Strategy Managers need exceptional communication and interpersonal skills to liaise between different departments, stakeholders and executives. They must be able to communicate strategic goals and objectives clearly and persuasively, listen to feedback from team members, and effectively resolve disputes.

For a professional to be successful as a Strategy Manager they must develop and master a diverse set of skills and competencies that enable them to lead and execute strategic planning efforts effectively. These include critical thinking and analytical skills, strategic planning and execution skills, leadership qualities, and communication and interpersonal skills.

Roles and Responsibilities of a Strategy Manager

As a strategy manager, your responsibilities are multifaceted and pivotal to the success of the organization. It is important to have a keen understanding of the business goals, industry trends, and competitive landscape to be able to develop effective strategies that drive growth and innovation. Here are the essential roles and responsibilities of a strategy manager:

Conduct market research and analysis

As a strategy manager, one of your primary responsibilities is to conduct thorough market research and analysis. This involves identifying market trends, customer needs, and competitive threats. You must stay up-to-date with the latest technologies, developments, and best practices in the industry. This information is critical in developing and implementing strategies that help the organization remain profitable and competitive.

Develop strategies and tactics to achieve organizational goals

Based on your market research and analysis, you will develop various strategies and tactics that align with the organization’s goals. These strategies could relate to any area of the business, such as marketing, sales, finance, or operations. You should design these strategies keeping long-term objectives and future growth opportunities in mind. Effective strategies help the organization make optimal use of resources and achieve its targets.

Monitor and evaluate progress towards goals

A key responsibility of the strategy manager is to monitor and evaluate progress towards organizational goals closely. This involves monitoring key metrics, creating dashboards and status reports, and communicating progress to stakeholders. You should also proactively identify, analyze and report on relevant KPIs that show progress and the impact of these strategies on the organization’s goals.

Liaise with different departments within the organization

As a strategy manager, you will work closely with various departments in the organization, including marketing, sales, HR, operations, and finance, among others. You must develop meaningful working relationships with department heads, and their teams to be successful in your role. A strong understanding of the needs and requirements of different departments and stakeholders is essential in developing and executing effective strategies that benefit the whole organization.

Create reports and presentations for stakeholders

Reporting and communication are other significant responsibilities of the strategy manager. You should be able to present complex data and ideas in an accessible and easy-to-understand format to different groups, including management, executives, and board members. To accomplish this, you will need excellent communication, presentation, and writing skills.

Drive innovation and stay up-to-date with industry trends

Driving innovation is critical to the success of every organization. As a strategy manager, you must stay current with industry trends and ensure your organization adapts to changes in the market, by keeping up-to-date with what your rivals are up to. Innovation requires an open mindset, hunger for knowledge, and the ability to take calculated risks.

Manage risk and ensure compliance with regulations

Finally, managing risk and ensuring compliance with regulations is crucial for any organization. As a strategy manager, you must be able to identify risks early on and implement controls to mitigate or avoid them altogether.

How to become a Strategy Manager

If you are interested in pursuing a career as a Strategy Manager, it is essential to have a clear understanding of the skills, education, and experience required for this role. Here are the steps you can follow to become a Strategy Manager:

Steps to follow in order to become a Strategy Manager

Obtain a bachelor’s degree: A degree in business, finance, or a related field is usually required for this role. However, some companies may consider applicants with degrees in other areas, provided they can demonstrate relevant skills.

Gain work experience: Entry-level positions in fields such as consulting, marketing, or analytics can help prepare you for a role as a Strategy Manager. Working in these positions enables you to gain experience in data analysis, financial modeling, and project management.

Develop a deep understanding of business: As a Strategy Manager, you will be responsible for developing and implementing strategies that enhance an organization’s competitive advantage. It is, therefore, imperative to have a comprehensive understanding of the business and its environment.

Obtain an MBA or other relevant graduate degree: An MBA or other related graduate degree can improve your chances of landing a role as a Strategy Manager. These programs cover topics such as finance, business strategy, and organizational behavior.

Hone strategic thinking skills: A successful Strategy Manager must have excellent strategic thinking skills, which enable them to analyze complex problems and develop solutions that drive organizational growth.

Entry-level jobs or internships which prepare you for the role

There are several entry-level positions in various fields that can prepare you for a career as a Strategy Manager. These include analytical roles in consulting firms, marketing research positions, project management, or financial analysis.

Internships are also crucial in preparing candidates for a role as a Strategy Manager. These opportunities provide you with practical experience, help you build a professional network, and provide invaluable exposure to the corporate world.

Advancement opportunities within the field

Strategy Management is a dynamic field with a vast range of opportunities. An entry-level Strategy Manager can advance to higher levels in the organization, such as Director of Strategy or Vice President of Strategy. Additionally, many Strategy Managers go on to become CEOs or other senior executives in their organizations.

For those looking to advance their careers, it is important to stay current and develop new skills. Continuing education, such as obtaining an advanced degree, attending professional development programs, or joining a professional association, can help you stay ahead of the curve and prepare for new challenges.

Becoming a Strategy Manager requires a combination of education, experience, and skills. By taking the right steps, gaining relevant work experience, and continuously developing new skills, you can succeed as a Strategy Manager and advance to higher levels of responsibility within your organization.

Salary of a Strategy Manager

As a Strategy Manager, it is important to know the expected salary range you can receive.

Average salary for Strategy Manager

It is important to note that the salary can differ based on the level of experience, education, location, and company. For example, a Strategy Manager working in New York City would earn a higher salary compared to someone working in a small town in Indiana.

According to the research, a Strategy Manager with less than one year of experience can expect an average salary of about $67,000 per year. With one to four years of experience, the average salary jumps to $81,000 per year. With five to nine years of experience, a Strategy Manager’s average salary could be $102,000 per year. If one has ten to nineteen years of experience as a Strategy Manager, the salary increases to $121,000 per year.

Factors that can influence salary

Apart from the years of experience, other factors could also influence a Strategy Manager’s salary. The company size, industry, education level, performance, and location can affect the salary.

Company size: A Strategy Manager working for a large corporation may earn a higher salary compared to someone working for a small-town startup company. The larger the company, the more complex the business operation is, and the more responsibility the Strategy Manager has.

Industry: Certain industries like technology, finance, and consulting tend to pay more for a Strategy Manager’s skills and expertise.

Education level: Having a higher education level than a bachelor’s degree could also increase the salary of a Strategy Manager. A master’s degree or an MBA could open up opportunities for promotions and higher salaries.

Performance: A Strategy Manager who demonstrates excellent performance could get rewarded through bonuses, stock options, or promotions.

Location: The location of the company plays a significant role in determining the salary of a Strategy Manager. Large cities like New York City, San Francisco, and Chicago offer higher salaries compared to small towns or rural areas.

The salary of a Strategy Manager can vary depending on several factors such as location, education level, experience, company size, industry, and performance. It is important to do proper research and consider these factors when negotiating for a salary.

Example of Job Description of a Strategy Manager

As a Strategy Manager, you will be responsible for developing and implementing long-term strategies for our organization that align with our goals and objectives. This role requires strong analytical and strategic thinking skills, as well as excellent communication and leadership abilities.

Key Responsibilities

• Conduct research and analysis to identify industry trends and competitive opportunities
• Develop and execute strategic plans that drive business growth and profitability
• Work cross-functionally with other teams to ensure alignment and collaboration
• Monitor and report on performance metrics to track progress towards strategic goals
• Assess company strengths and weaknesses to identify areas for improvement
• Manage and mentor a team of analysts and strategists

Qualifications

• Bachelor’s degree in business or a related field. MBA preferred.
• 5+ years of experience in strategy development and execution
• Strong analytical skills and proficiency in data analysis tools
• Excellent communication and leadership abilities
• Experience with project management and team leadership
• Understanding of industry trends and competitive landscape

Example of Job Description

We are looking for a Strategy Manager who will be responsible for developing and implementing strategic plans to guide our organization’s growth, profitability, and success. The ideal candidate will have a Bachelor’s degree in business or a related field, with 5+ years of experience in strategy development and execution.

In this role, you will conduct research and analysis to identify industry trends and competitive opportunities, developing strategic plans and working with other teams to ensure alignment and collaboration. You will track progress towards strategic goals, assessing company strengths and weaknesses to identify areas for improvement.

The successful candidate will have strong analytical skills and proficiency in data analysis tools. You must also have excellent communication and leadership abilities, with experience in project management and team leadership. Understanding of industry trends and competitive landscape is essential.

If you are a strategic thinker with a proven track record of driving business growth and profitability, we encourage you to apply for the Strategy Manager position.

Advantages of Hiring a Strategy Manager

A Strategy Manager can provide an organization with numerous benefits. Here, we outline some of the key advantages of hiring a Strategy Manager.

Benefit 1: Objective Insights and Expertise

A Strategy Manager is an experienced professional who has an objective outlook towards the organization’s goals and objectives. They have deep expertise in strategy development methodologies, frameworks and best practices. By utilizing their insights, organizations can make informed decisions about their strategies that can lead to successful outcomes.

Benefit 2: More Efficient Resource Allocation

Resource allocation can often be a challenging task for organizations. A Strategy Manager can help identify areas where resources could be better utilized, thereby improving efficiency and productivity across the organization.

Benefit 3: Better Decision Making

Strategy Managers have a knack for understanding the market and identifying opportunities that can help organizations stay ahead of their competition. By leveraging their expertise in strategy development, they can help organizations take quick, decisive actions that can give them a competitive edge.

Benefit 4: Improved Risk Management

Organizations are often exposed to various kinds of risks that may impede their growth and progress. A Strategy Manager is well versed in risk management methodologies and can help organizations navigate through these risks with ease.

Cases and Examples of Successful Strategy Managers

The healthcare sector is a prime example of a sector that has benefited from the expertise of a Strategy Manager. The Ohio State University’s Wexner Medical Center hired a Strategy Manager to help them streamline their operations, and as a result, they were able to save $35 million in just two years.

Another example of a successful Strategy Manager is Sabrina Horn, who helped establish Horn Group, a public relations firm based in San Francisco. Under her leadership, the company grew to become one of the largest agencies in the region.

Hiring a Strategy Manager can provide numerous benefits to an organization. By leveraging their expertise and insights, organizations can improve their decision-making abilities, allocate resources more efficiently, and identify and manage risk with greater ease. Organizations that hire a good Strategy Manager can expect to see significant improvements in their overall performance and growth.

Strategy Manager vs. Other Related Careers

In this section, we will compare the role of a Strategy Manager with other related careers in the field.

Management Consultant

One of the most common careers that people link with Strategy Managers is that of a Management Consultant. While both careers require strong analytical, interpersonal, and communication skills, the main difference lies in the nature of work. A Strategy Manager typically works for a single organization, whereas a Management Consultant usually works with multiple clients. Additionally, Strategy Managers are responsible for implementing and executing strategic plans, while Management Consultants may only provide recommendations and strategic advice.

Marketing Manager

Another related career is that of a Marketing Manager. While both positions require a strategic mindset, the main difference lies in the domain of focus. Marketing Managers concern themselves with the promotion and positioning of the company’s products and services, while Strategy Managers focus on the long-term vision and direction of the company. Additionally, Marketing Managers tend to work more with external stakeholders, such as advertising agencies and media outlets, while Strategy Managers work more closely with the organization’s internal teams.

Business Development Manager

A Business Development Manager is another role that shares similarities with a Strategy Manager. Both positions play a critical role in shaping the company’s growth trajectory. However, the difference lies in the responsibilities. A Business Development Manager typically focuses on strategizing and executing deals and partnerships that help grow the business. A Strategy Manager, on the other hand, is responsible for developing and executing the organization’s overall strategic direction.

Finance Manager

A Finance Manager is another career that people often link with a Strategy Manager. While both positions require strong analytical skills, the difference lies in the areas of focus. A Finance Manager primarily focuses on financial planning, budgeting, and alignment of financial resources with business objectives. A Strategy Manager, on the other hand, deals with a broader range of activities, including analyzing market trends, evaluating risks and opportunities, and formulating business strategies.

Similarities across Careers

Despite the differences noted above, several similarities exist across these careers. All of the professions require excellent analytical, communication, and leadership skills. They also require a strategic mindset, the ability to analyze complex data, and the capacity to influence and persuade. Teamwork and collaboration are crucial to the success of all these roles since all require interaction with colleagues, stakeholders, and clients.

Bringing all of these comparisons together, we see that while a Strategy Manager shares some similarities with other related careers, the role is unique. A Strategy Manager bridges internal and external stakeholders, creating value beyond a single function or department. The Strategy Manager is responsible for positioning the organization for long-term success and achieving its desired outcomes. By understanding the similarities and differences between these careers, individuals interested in pursuing a career in strategy can evaluate how their skills, interests, and passions align with these other careers.

Future of Strategy Management

The role of a Strategy Manager is an increasingly important and complex one in today’s business environment. As companies aim to stay ahead of the competition, they require individuals who can effectively create and implement strategies that will help to achieve their objectives. As we look to the future, it is clear that the demand for Strategy Managers will only continue to grow.

According to recent research, the demand for Strategy Managers is expected to increase significantly over the next decade. This demand will be driven by several factors, including the need for companies to become more agile and adaptable, as well as the increasing importance of data-driven decision making. As such, individuals with a deep understanding of strategy development, implementation, and analysis will be highly sought after.

In addition to the forecasted growth in demand, there are several technological changes that are likely to impact the role of the Strategy Manager in the future. One of the most significant of these changes is the rise of artificial intelligence (AI) and machine learning. With these technologies, companies are able to analyze massive amounts of data quickly and accurately, providing valuable insights that can inform strategic decision making.

However, the growth of AI also presents some challenges for Strategy Managers. For example, these technologies could take on some of the analytical tasks traditionally performed by human strategists. As such, individuals in this role will need to be able to leverage the power of AI while also maintaining a critical, human perspective on strategy development and implementation.

Another technological change that is likely to impact Strategy Management is the increasing importance of digital channels. As more and more companies move their business online, the ability to develop effective strategies for digital engagement will become more critical. Strategy Managers will need to have a deep understanding of digital marketing channels such as social media, search engine optimization, and mobile advertising in order to effectively reach and engage with target audiences.

The future of Strategy Management looks bright. As companies continue to recognize the importance of strategic thinking and planning, the demand for experienced Strategy Managers will only continue to grow. At the same time, individuals in this role will need to remain adaptable and forward-thinking in order to effectively navigate the challenges and opportunities presented by emerging technologies like AI and digital channels.

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Marketing Manager Job Description & Roles and Responsibilities

A marketing manager is a professional who promotes a business or a product with the help of marketing resources. He or she is responsible for marketing a single product or brand, or may be for multiple ranges of products and services in a business.

A marketing manager is one who decides when to launch a new product and develops and implements marketing strategies. He or she trains his or her marketing team and conducts market research to identify new marketing opportunities.

• Marketing manager job description

A marketing manager’s job description is all about developing and maintaining marketing plans and strategies to promote a business or a product. As a marketing manager one needs to analyse market trends and patterns along with competition. He or she oversees marketing, promotional, advertising activities and manages the marketing team.

Role and responsibilities of a marketing manager

Marketing manager career progression, what are the qualifications required to become a marketing manager, what are the skills required to become a marketing manager, what are the top recruiters for a marketing manager job, what is the salary of a marketing manager.

Marketing managers duties involve training and guiding the marketing team in order to achieve business objectives. They collaborate with different departments to manage the entire product life cycle, from planning to developing marketing strategies. Marketing managers are given a limited budget for all the marketing activities, therefore they must ensure to develop cost effective marketing plans.

A marketing manager is responsible for a variety of activities to promote a business or a product using marketing resources and strategies. He or she develops and implements marketing strategies, manages campaigns, market research, competitor analysis, budget management and guides marketing teams. We have discussed the marketing manager role below.

Strategic Planning and implementation: A marketing manager analyses all the marketing trends, competition and patterns to develop a strategic planning in line with business objectives. He or she finalises and communicates plans to team members and starts implementing to achieve success.

Marketing Campaign Management: A business needs to run many marketing campaigns to promote products and services. A marketing manager is responsible to maintain, design, oversee and control marketing campaigns. He or she uses platforms such as digital media, radio and television for marketing.

Market Research and Competitor Analysis : Market research is very crucial for any business to know the target audience, customer preferences, buying behaviour and needs of the target market. A marketing manager is responsible for thorough market research and competitor analysis to stand out from competitors.

Digital Marketing : Online presence is very important for business in today's world to survive in the long-term. Online presence helps marketing managers to reach a large number of audience and help in identifying target audience. Digital marketing helps marketing managers to conduct fast market research, live interaction and provides a competitive edge.

Budget Management : A marketing manager is tasked to manage the budget. He or she allocates all resources in the best manner to reduce cost and is responsible for conducting all the marketing activities within the given budget. Budget management is important for all sizes of businesses as it helps in cost effective marketing, resource allocation, performance analysis and decision making.

Partnership and Collaboration : As marketing manager an individual is often required to collaborate with different departments and business partners for overall growth. It helps marketing managers to build relationships among organisations and different stakeholders that help in success.

There is no fixed career path progression as it depends on specialisation, industry, and experience. Below we have discussed the common career path progression for a marketing manager.

Marketing Assistant : A marketing assistant is an entry level position in marketing. He or she provides administrative support to the marketing team. Duties of a marketing assistant include gathering marketing information, assisting in marketing campaigns and compiling marketing data.

Marketing Specialist: A marketing specialist is a person who has expertise in a single marketing domain like digital marketing, social media marketing or brand management. He or she is also involved in market research, campaign management and understands consumer behaviour.

Marketing Manager: A marketing manager is responsible for managing all aspects of marketing. This position includes tasks like leading the marketing team, planning and developing marketing strategies, budget management and resource allocation.

Senior Marketing Manager/Marketing Director : A senior marketing or marketing director is responsible for a wide range of marketing activities. This position comes with more responsibilities such as managing multiple marketing teams and campaigns, providing training to junior employees and developing overall marketing plans to achieve marketing objectives.

Vice President/Chief Marketing Officer (CMO): This is the highest level of position in marketing. A Vice President or CMO is responsible for managing the entire marketing function within the organisation, developing long term plans, setting budgets and departmental goals.

Chief Executive Officer( CEO ) : A chief executive officer is the highest level position in the organisation, not related to the marketing but oversees all the activities of all the departments. An individual with experience and skills set can develop himself for CEO level position.

To become a marketing manager one must pass 10+2 with any of the subjects from a recognised board. He or she needs to complete a bachelor’s degree and then opt for an entry-level job or doing a master's degree can be an added advantage. We have mentioned below the bachelor’s degrees and master’s degrees programmes in india.

Bachelor’s Degree Programmes

BBA (Bachelor of Business Administration)

BBA in Marketing

B.Com (Bachelor of Commerce)

BBA In Digital Marketing

Master’s Degree Programmes

M.Com (Master of Commerce)

MBA (Master of Business Administration)

MBA in Digital Marketing Management

MBA in Marketing Management

Every career demands an individual to equip themselves with relevant knowledge in a particular industry. A marketing manager must have both soft skills and hard skills to perform marketing activities successfully. Below we have mentioned marketing manager skills.

Soft skills

Leadership Skills

Analytical Skills

Problem-Solving

Attention to Detail

Communication Skills

Decision-Making

Organisational

Hard Skills

CRM (Customer Relationship Management)

Content Creation

Market Research

Brand Management

Social Media Marketing

Content Marketing

Project Management

Strategic Planning

Data Analysis

Basics of User Experience (UX) Design

A marketing manager plays a crucial role in promotion of a business or a product. Top recruiters like Amazon, Tata Consultancy Services, Google and Accenture continuously provide individuals with marketing manager job opportunities. Individuals with the right set of skills and guidance can avail opportunities to work in these top companies.

Tata Consultancy

Cognizant Technology Solutions

A marketing manager is required in every business to promote its products and services.

A marketing manager job is promising and the salary structure is very lucrative. As per the AmbitionBox a marketing manager earns between Rs. 2.3 Lakhs to Rs. 24 Lakhs with an average salary of Rs. 12.2 Lakhs.

Source : Glassdoor

“The salary figures mentioned anywhere in the article are just for reference purposes. Actual salaries may vary depending on the respective candidates, employer, job location, and numerous other factors.”

In conclusion, a marketing manager utilises marketing resources to promote a business or a product. It is a very important job role in any business whether a small or large company. To become a marketing manager one needs to complete his or her graduation from a recognised university and must develop a relevant set of skills.

Amazon, Flipkart, Accenture and Google are the top recruiters for a marketing manager.

In fact, the salary offered in this role is quite lucrative with an average salary of Rs. 12.2 Lakhs per annum. Individuals with the passion in marketing must pursue a career as a marketing manager.

Frequently Asked Question (FAQs)

Career as a marketing manager is growth oriented, exciting and challenging. This career is highly rewarding and one of the best sales jobs. An individual who enjoys a dynamic work environment with consistent changes, marketing may be a good choice.

A bachelor’s degree in marketing, commerce or any other relevant field is required and then opt for an entry-level job. Completing a masters degree in marketing will be an added advantage.

Career as a marketing manager is a high paying job with an average salary of Rs. 12 lakhs per annum. With experience and expertise an individual can make 30 lakhs per annum or more.

Individuals can opt for some certification courses such as Advanced Programme for Marketing Professionals , B2B Marketing , BBA Marketing Capstone Value Creation through Innovation, Certificate Program in Marketing Management and Certified Inbound Marketing Professional.

As a marketing manager one needs to perform various activities to promote a business or a product. He or she is responsible for developing and implementing marketing strategies, market trend analysis, competitor analysis and leads the marketing team to achieve marketing objectives.

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Strategy Job Descriptions

Corporate planning specialist job description, corporate planning specialist.

The Corporate Planning Specialist plays a critical role in shaping the future of [Company Name]. As part of the [Team], the Corporate Planning Specialist will work closely with various teams including [Teams Collaboration] to drive strategic initiatives and ensure the successful execution of the company's long-term goals. Reporting to the [Reporting To], the Corporate Planning Specialist will be responsible for analyzing market trends, conducting research, and developing comprehensive plans and strategies to guide the company's growth and success. This role requires a deep understanding of the industry, exceptional analytical skills, and the ability to work collaboratively with cross-functional teams.

Responsibilities

• Conduct market research and analysis to identify trends, opportunities, and risks
• Develop and implement strategic plans to drive growth and achieve business objectives
• Collaborate with cross-functional teams to gather insights and align planning efforts
• Monitor and evaluate key performance indicators to track progress and adjust strategies as needed
• Prepare reports, presentations, and recommendations for senior leadership
• Stay updated on industry best practices, competitive landscape, and emerging trends
• Support the development of business cases and financial models for new initiatives
• Identify and propose process improvements to enhance efficiency and effectiveness

Requirements

• Bachelor's degree in a relevant field
• [X years of experience] years of experience in corporate planning, strategy, or related roles
• Strong analytical and problem-solving skills
• Excellent communication and presentation abilities
• Proficiency in strategic planning and project management
• Advanced knowledge of market research and financial analysis
• Ability to work collaboratively and influence stakeholders at various levels
• Detail-oriented with a focus on quality and accuracy
• Continuous learning mindset and a drive for professional development

Success Metrics

• Achievement of strategic objectives aligned with the company's long-term goals
• Effective implementation of strategic plans and initiatives
• Timely and accurate delivery of reports, presentations, and recommendations
• Positive feedback from cross-functional teams and stakeholders
• Continuous improvement in processes and planning methodologies

Your role as a Corporate Planning Specialist at [Company Name] will be instrumental in driving the company's growth, development, and achievement of strategic objectives. Through your expertise in analyzing market trends, developing strategic plans, and collaborating with cross-functional teams, you will contribute to shaping the future success of the company. Join our team and make a significant impact on our journey towards excellence.

To apply, please contact Contact Name at Email.

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Find your next corporate planning specialist.

Use our free tailored job description to find the perfect candidate for the role of Corporate Planning Specialist. Our job description provides detailed responsibilities, requirements, success metrics, and more. It can be customized to meet the specific needs of your organization. Start attracting top talent today with Cascade's tailored job description.

About the Corporate Planning Specialist

A Corporate Planning Specialist plays a crucial role in the organization's strategic planning and execution. They are responsible for analyzing market trends, identifying growth opportunities, and developing strategic plans to drive business success. This role requires strong analytical skills, strategic thinking abilities, and the ability to collaborate with cross-functional teams to achieve organizational goals.

FAQs about the Corporate Planning Specialist

What is the role of the corporate planning specialist about.

The role of the Corporate Planning Specialist is about developing and implementing strategic plans to drive business growth and success. They analyze market data, assess industry trends, and identify opportunities for business development. Our tailored job description provides a detailed overview of the responsibilities and requirements of the Corporate Planning Specialist role, including examples and insights to guide your hiring process.

Why do you need a Corporate Planning Specialist?

A Corporate Planning Specialist is essential for effective strategy execution. They help organizations align their goals with market opportunities, identify potential risks, and develop actionable plans to achieve success. By having a dedicated Corporate Planning Specialist, organizations can ensure their strategies are well-defined, implemented effectively, and monitored for continuous improvement. It is a core strategy execution role that drives long-term growth and competitive advantage.

What would be an average salary for the Corporate Planning Specialist?

The average salary for a Corporate Planning Specialist in the US ranges from $70,000 to $120,000 per year, depending on factors such as experience, location, and industry. This estimate is based on salary data from reputable sources like Glassdoor and can vary depending on the specific organization and its requirements.

Ready to find your next Corporate Planning Specialist? Create your tailored job description.

Articles to get your started with corporate planning specialist, your toolkit for strategy success.

SWOT Analysis of a Human Resources (HR) department 

A Human Resources (HR) department manages an organization’s workforce and fosters a positive work environment. Here’s an overview of the primary functions and responsibilities of an HR department:

Core Functions of HR:

• Recruitment and Staffing : HR is responsible for attracting, hiring, and onboarding new employees. This includes crafting job descriptions, posting job openings, screening candidates, conducting interviews, and selecting the best candidates for the organization.
• Training and Development : HR departments manage employee development programs to enhance skills, improve performance, and ensure employees are equipped to meet their job requirements. This includes organizing training sessions, workshops, and continuing education opportunities.
• Compensation and Benefits : HR determines appropriate compensation structures and packages that align with industry standards and organizational goals. This includes salary, health insurance, retirement plans, and other perks that help attract and retain talent.
• Performance Management : HR oversees employee performance evaluation, working with managers to assess and manage worker productivity and setting performance standards and goals. This function is crucial for identifying high performers, providing feedback, and addressing areas where employees may need improvement.
• Employee Relations : HR plays a key role in maintaining a healthy, ethical, and productive workplace. They handle employee grievances, mediate disputes, and ensure a fair and respectful working environment. This also involves developing and enforcing company policies that comply with legal standards.
• Compliance with Laws and Regulations : HR ensures that the organization complies with all relevant employment laws and regulations, which can vary widely from one jurisdiction to another. This includes employment standards, health and safety issues, and anti-discrimination laws.
• Workforce Planning and Retention : HR departments are involved in strategic planning to ensure the organization has the right mix of skills and staffing levels to meet current and future business needs. This involves succession planning, turnover management, and workforce analytics.
• Diversity and Inclusion : Many HR departments lead initiatives to promote diversity and inclusion within the workplace. This includes developing policies that promote equal opportunities and creating programs that enhance cultural competency within the team.

Strategic Role of HR:

Increasingly, HR is seen as a strategic partner in the organization rather than just an administrative or support function. This strategic role involves aligning HR policies and practices with the overall business strategy to improve performance, productivity, and profitability. HR professionals are expected to provide insights and data that support business decisions, help manage change, and foster organizational culture.

In summary, an HR department is integral to nurturing a company’s human capital, aligning employee goals with organizational objectives, and ensuring compliance with laws and regulations. The effectiveness of HR can significantly impact an organization’s overall success.

Here is the SWOT analysis for  Human Resources (HR) department 

A SWOT analysis is a strategic planning tool used to evaluate the Strengths, Weaknesses, Opportunities, and Threats of a business, project, or individual. It involves identifying the internal and external factors that can affect a venture’s success or failure and analyzing them to develop a strategic plan. In this article, we do a SWOT Analysis of the Human Resources (HR) department.

SWOT Analysis: Meaning, Importance, and Examples

• Expertise in Recruitment and Talent Management : HR is central to attracting and retaining top talent. A strong HR department excels in designing recruitment strategies that fill positions quickly and ensure a good fit between the candidates and the company culture. This helps in building a skilled and committed workforce.
• Employee Development and Training : HR departments often lead the way in employee development, providing training programs that enhance skill sets and increase productivity. By investing in employee growth, HR can directly impact the organization’s efficiency and effectiveness.
• Enhanced Employee Satisfaction and Engagement : HR plays a crucial role in employee relations by ensuring a positive work environment, addressing grievances effectively, and maintaining high levels of employee engagement. This can lead to lower turnover rates, higher job satisfaction, and a more motivated workforce.
• Strategic Workforce Planning : HR’s ability to forecast and plan for future workforce needs based on the organization’s strategic direction is invaluable. By aligning the workforce strategy with organizational goals, HR can ensure that the company has the right people in the right roles at the right time.
• Regulatory Compliance and Risk Management : HR helps the organization comply with labor laws and employment standards, reducing legal risks and protecting the organization from potential lawsuits and regulatory sanctions.
• Cultural Stewardship : HR is often seen as the guardian of company culture, promoting core values and ensuring they are integrated into every aspect of the organization. A strong company culture can enhance employee morale and productivity and differentiate the company in the market.
• Cost Management : Through effective benefits management, salary structure design, and control over labor costs, HR can contribute to the financial health of the organization, making it a key player in overall business success.
• Resource Constraints : HR departments are often required to manage a wide range of responsibilities with limited resources. Budget constraints can lead to understaffing in HR teams, which may result in delays and inefficiencies in handling employee needs, recruitment, and training programs.
• Resistance to Change : HR departments can sometimes be slow to adapt to changes in the business environment or advances in HR technology. This resistance can hinder the implementation of more efficient systems and processes that could benefit the organization.
• Lack of Strategic Integration : HR may not be fully integrated into the strategic planning process in some organizations. This can lead to a disconnect between the company’s business goals and HR strategies, potentially affecting the overall alignment and effectiveness of the organization.
• Overemphasis on Administration : HR departments can sometimes become too focused on administrative functions such as processing payroll and managing employee records. While these tasks are important, overemphasizing them can divert attention from more strategic HR functions like talent management and employee development.
• Compliance and Legal Challenges : Navigating the complex landscape of employment law can be challenging for HR professionals. A lack of expertise or up-to-date knowledge on legal matters can expose the organization to risks of non-compliance and potential legal issues.
• Ineffective Communication : Poor communication within the HR department and with other departments can lead to misunderstandings and misalignment of goals. Ineffective communication can also impact employee satisfaction if employees feel their concerns are not addressed properly.
• Data Management Issues : With data becoming increasingly important in HR decision-making, a lack of proper systems to handle data can be a significant weakness. Inadequate data management can make tracking employee performance, forecasting workforce needs, and analyzing HR metrics difficult.

Opportunities

• Technology Integration : Adopting advanced HR technologies like AI-driven analytics, machine learning for data processing, and automated systems for routine tasks can greatly enhance efficiency. These tools can help in better talent management, predictive analytics for turnover rates, and more personalized employee engagement strategies.
• Strategic Leadership Role : HR can expand its influence by taking on a more strategic role in organizational planning. This involves participating in high-level decision-making processes, aligning HR strategies with business goals, and contributing to the company’s overall direction.
• Employee Wellness Programs : With increasing awareness of the importance of mental health, HR departments can implement comprehensive wellness programs that support employees’ physical, mental, and emotional health. This can improve employee satisfaction, reduce absenteeism, and create a more productive workforce.
• Talent Development and Lifelong Learning : HR can create employee growth and development opportunities through continuous learning and development programs. This could include career development plans, upskilling courses, and leadership training, which help retain top talent and prepare employees for future organizational roles.
• Diversity and Inclusion Initiatives : There is a growing need for workplaces to be more inclusive and diverse. HR departments can lead the way in crafting policies and practices that promote diversity, equity, and inclusion. These initiatives can enhance the company’s image, attract a diverse workforce, and improve employee engagement and innovation.
• Global Talent Acquisition : As businesses expand globally, HR departments can look to broaden their recruitment efforts to include international talent. This fills skills gaps and brings new perspectives and ideas to the organization, enhancing creativity and problem-solving.
• Enhancing Employee Engagement : HR can leverage data and employee feedback to develop more effective engagement strategies. This might involve tailored benefits, flexible working conditions, and recognition programs that directly address the desires and needs of the workforce.
• Compliance and Risk Management : As regulations evolve, particularly in areas like data protection (GDPR) and labor laws, HR departments can strengthen their role in compliance management. Being proactive in this area can prevent legal issues and ensure the organization operates within the law.
• Technological Disruption : Advances in AI and automation technologies are reshaping many traditional HR functions. Automation of routine tasks like payroll, benefits administration, and initial recruitment phases can threaten HR roles, pushing the department to evolve and adopt new skills focused more on strategic planning and employee engagement.
• Economic Uncertainty : Economic downturns and budget cuts can significantly impact HR operations, forcing the department to do more with fewer resources. These conditions can lead to layoffs, reduced training and development opportunities, and decreased employee engagement and morale.
• Compliance and Regulatory Changes : HR departments must stay current with labor laws and employment regulations, which can vary widely by region and change frequently. Non-compliance can result in fines, legal issues, and damage to the company’s reputation.
• Data Security Risks : With HR departments managing a significant amount of sensitive employee data, they are a prime target for cyber threats. A breach can lead to severe data loss, compromising employee privacy and leading to legal repercussions.
• Talent Management Challenges : In a highly competitive job market, retaining top talent and recruiting skilled workers are constant challenges for HR. The inability to effectively manage talent can lead to a skills gap in the organization, affecting overall productivity and innovation.
• Changing Workforce Demographics and Expectations : As workforce demographics shift and employee expectations change, HR must adapt its policies and strategies to meet these new demands. This includes managing a multi-generational workforce, accommodating flexible work arrangements, and implementing diversity and inclusion initiatives.
• Remote Work Dynamics : The rise of remote work has created new challenges for HR regarding engagement, performance management, and maintaining company culture. Adapting to these changes while ensuring seamless communication and collaboration is crucial.

Check out the SWOT Analysis of Global Businesses

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US F-16s could play a vital role in isolating Crimea and humiliating Putin, says defense analyst

• US F-16s will have a big impact in helping Ukraine reclaim Crimea, an analyst told BI.

The first F-16s are expected to be in Ukraine within weeks, according to reports on Friday.

• Crimea holds great symbolic significance. Retaking it would be a major blow to Putin.

The delivery of US-made F-16s could play a crucial role in Ukraine's attempts to take back occupied Crimea, a defense expert told Business Insider.

Frederik Mertens, a Strategic Analyst at the Hague Centre for Strategic Studies, told BI that by striking Russian ground-based air defense (GBAD) systems, Ukraine is "preparing the ground" for future air strikes once F-16 fighters arrive.

Denmark previously said it would begin transferring its aircraft in the summer. Norway and Belgium have also pledged F-16s to Ukraine. Denmark, the US, the UK, France and Romania are helping train Ukrainian pilots.

"We should be careful not to overestimate the impact of the limited number of F-16 fighters," Mertens said, adding that "the land front is vast, and there are a lot of Russians to kill."

But Crimea was "vulnerable," especially when it comes to attacks from F-16 fighters, he said.

"The Russians have relatively limited maneuver space on the peninsula, resupply is dependent on the Kerch bridge, and here, Putin has a lot to lose both politically and militarily," he said.

"If a limited number of fighters can have a real impact, it is here — and above the Black Sea that becomes fully accessible once the GBAD on the Crimea are dealt with."

Despite facing a series of tough setbacks on the Eastern front, where the latest reports say Russian forces have launched a new front to capture Kharkiv, Ukraine's second-largest city, Ukraine has repeatedly embarrassed Russian forces in and around the Crimean peninsula.

With advanced US weapons, Ukraine's ambition to cut off the territory from mainland Russia and put it in a military stranglehold becomes more likely.

In addition to the F-16s, long-range ATACMS provided by the US to Ukraine have the potential to make Crimea "militarily worthless" to Russia, according to one defense analyst.

Related stories

In April, The New York Times reported that the US had secretly shipped about 100 Army Tactical Missile Systems, known as ATACMS, to Ukraine, which has reportedly already put them to use.

Crimea is now more symbolic than strategic

Ukraine has consistently said it hopes to recapture Crimea, though some commentators have called this a pipe dream, and has damaged Russian forces with a series of successful operations.

Crimea continues to carry considerable emotional value — to Putin , who considers its 2014 annexation as one of his greatest achievements — and to Ukraine, which sees it as a detested symbol of Russian occupation .

Throughout the war, Ukraine has sunk ships of Russia's Black Sea Fleet , bombed the port of Sevastopol , and targeted the strategic Kerch Bridge that connects the peninsula to Russia.

In the latest blow on Monday, Ukraine used an exploding naval drone to destroy a Russian military speedboat in Crimea.

Crimea also serves as a crucial logistics hub and military supply route to occupied southern Ukraine, and it is the launchpad for several Russian missile and drone attacks.

In mid-April, Ukraine claimed to have struck the Dzhankoi military base, in northern Crimea, including a prized S-400 air defense launcher.

Last year, in July, a series of massive explosions roared through a Russian ammunition storage facility on the peninsula, forcing thousands of residents of nearby areas to flee.

The Kerch bridge, which connects the peninsula to Russia, has also been significantly damaged twice by Ukraine since the start of the full-scale invasion.

The first explosion , in October 2022, saw the bridge's road section collapse and a subsequent attack in July 2023 using sea drones appears to have targeted its support struts.

There are signs that these attacks are forcing Russia to rethink its use of the peninsula and the Kerch bridge.

In an examination earlier this month of Maxar satellite images by open-source intelligence agency Molfar, analysts said that between February and mid-April, they saw no Russian freight trains carrying military equipment on the Kerch Bridge.

"This may indicate a reluctance on Russia's part to transport military cargo via the bridge after previous attacks and the use of alternative routes," Molfar said in its report.

Watch: Russia launches mass strikes against Ukraine after Crimea bridge explosion

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