A Strategic Manager is a professional who is responsible for developing and implementing the long-term plans of a business organization.
They work with executives to assess the organization’s Strengths, Weaknesses, Opportunities, and Threats (SWOT Analysis), and then develop strategies to achieve the organization’s goals. They typically work in senior management positions, and may report directly to the Chief Executive Officer (CEO) or Chief Operations Officer (COO).
Strategic Managers also monitor the external environment and make adjustments to the organization’s strategy as needed.
Strategic Managers are employed in a variety of industries, including business, government, healthcare, education, and non-profit business organizations.
What does a Strategic Manager do?
Here are some examples of the work that a Strategic Manager might do. Specifically, strategic managers may be responsible for the following tasks:
- Conducting market research and analysis.
- Develop a new marketing strategy to increase brand awareness and sales.
- Implementing strategic plans.
- Launch a new product line to enter a new market.
- Managing risk.
- Overseeing the implementation of strategic initiatives.
- Communicating the organization’s strategy to employees and other business stakeholders.
- Acquire another company to expand into new areas.
- Restructure the organization to improve efficiency and profitability.
- Develop a contingency plan in case of a major economic downturn.
Strategic Managers typically have a strong understanding of business operations, as well as analytical and problem-solving skills. They must also be able to think strategically and develop creative solutions to complex problems.
Strategic Managers play a vital role in helping organizations achieve their goals and business objectives. By developing and implementing sound strategies, they can help organizations to grow and succeed in a competitive marketplace.
