Please confirm, if you accept our tracking cookies. That is the starting point but the ability to communicate is far more important. 4,654 Chief Strategy Operations Officer jobs available on Indeed.com. For example, sectors like insurance faced different needs versus sectors like textile sales. Even in a company where the chief strategy officer is celebrated and comes the closest to setting strategy, he is not doing it. These CSOs carried out activities similar to traditional management consultants. That is pretty tough to do because the operating units do not report to the chief strategy officer and, therefore, would likely ignore him or her. Every business unit must share the vision and understand the gravity of the decisions involved and the discipline required to create change. + editable slides, Advice from partners who have collectively advised +100 Fortune 100 CEOs. You may not have picked this up, but Luis was being forced to report to the CFO and Luis did not have a seat on the board. Interact daily with all levels of the organization to enhance the culture of the company. You look at stuff like Trump and Brexit and there’s a prevailing sense of “us vs. them” in the world. Second, unless you can personally see some unique way to leverage a strategy role into a better operating role, never ever give up an operating role if you intend to stay in corporate for a long time. Just to be clear about this, 90% of BCG and McKinsey partners are considering operating roles. It was the first time Snap had employed a CSO. Many companies use the titles as bait to lure in talented consultants and even their own employees. The one constant is the COO's close relationship with the CEO, who is often responsible for defining the role. Chief Strategy Officers (CSOs) face a number of challenges distinct from those faced by other members of the C-Suite—in particular, the breadth and ambiguity of the CSO’s role. In fact, BCG had been appointed to help the board determine if they should bid to enter the power sector. We'll email you when new articles are published on this topic. This type is usually brought in when the company wants to run a series of operating interventions, which require a high degree of energy. Third, remember that strategy consultants tend to come in on a back foot in a corporate setting since we have little operating experience and tend to play up our analytic strength. If new to the organization, this is a role that is frequently met with skepticism, both from the senior team and the frontline workforce. 2,290 Chief Strategy Operating Officer jobs available on Indeed.com. Both report directly to the chief executive officer (CEO). It’s important to understand that the roles of Chief Revenue Officer (CRO) and Chief Sales Officer (CSO) are equally complex. When Snap appointed a chief strategy officer (CSO) in 2014, the move was widely noticed — and not just because the owner of the Snapchat messaging app had picked a banker who made his name advising on the massive initial public offering of Alibaba, the Chinese e-commerce group. There’s a reason the CEO and leadership team of a company are typically the ones to create corporate strategy. It took 9 years for a new CEO to come in and implement the strategy by offering the operating heads a change in their power base, but not a reduction of their power. First Think of the time and cost savings in having the best slides available to your team. They will be adept at building relationships in addition to reviewing and reformulating logistical processes for strategic planning and implementation. To complete the The role of the COO varies greatly from one industry to another and even from one company to another, which makes it difficult to provide a succinct list of duties. However, it’s not uncommon that senior-most strategy leaders are former senior consultants (often partners) of top-tier strategy consulting firms such as McKinsey, Bain & Co, Boston Consulting Group, or others. Your stand begins now. They are unlikely to be actively looking for new opportunities. Join to Connect PCS Wireless. Finding them is not the hard part; engaging and recruiting them most certainly is. To gain greater insight on the difference between Chief Marketing Officer and Chief Strategy Officer roles, I interviewed Thomas Ordahl, CSO Landor, a … The resulting strategy might be spot on, but when passed down the line to managers and frontline employees, the vision frequently becomes opaque and inaccessible. On paper, this was a sound analysis. They have the depth of experience, the insight, and the big picture perspective to determine avenues for business growth and sustainability. First, it helped him directly leverage his prior experience as a strategy partner. Some companies, including AIG, Kimberly-Clark, Motorola, and Yahoo!, have discovered a way to fill the execution void: hire a chief strategy officer. Second, it allowed him to learn about an operating company before taking on an operating role. In many other cases, CSO’s are experienced executives who have worn multiple hats and have built their experience across a breadth of functions, whether it be in marketing, finance, acquisitions, technology, communications, or elsewhere. How Is a Chief Revenue Officer Different from a Chief Financial Officer? It is far too easy to get entranced by spreadsheets about enterprise value and economic profit, but you need to be able to understand how the strategy changes impact the organizational power structure. For a very senior person at the operating, executive or management committee level, moving to strategy is always a move to sideline a person’s career. Beyond the title, you need to consider many items when making this decision. Confronted with trends in digitalization, globalization, ever more stringent government regulations, and increasingly complex supply chains and organizational structures, executive leaders are being pressured to continuously develop and implement more robust strategy in order to respond, adapt and get ahead. Luis absolutely made the right move joining as chief strategy officer. +6 books. To Luis, this felt like the ultimate insult. If the CEO cannot do so, why would the board allow the chief strategy officer to control strategy? If it is not counter intuitive we typically respond by claiming, “anyone could come up with this.” If a strategy is counter intuitive, then it requires significant “selling” or convincing of the management team. When I spoke to Luis before he made this decision, I voiced by strong concerns about the enormous limitations of the chief strategy officer role. Executive Assistant to Founder & Chief Strategy Officer. However, in the first meeting the CEO called, none of the 3 operating division presidents arrived. “Is the Pepe from Jimmy John’s OK, sir?” [Tweet “Your CSO is your Chief Sandwich Orderer. Primarily, the CSO will focus on building emerging business strategy with a 3-5 year perspective. Happy Holidays from all of us here at Slayton Search Partners! iOS + Android Apps, Apple TV, ROKU, iTunes, Google Podcasts, Amazon Kindle, +6,200 strategy episodes all by ex-McKinsey, BCG et al partners. You will receive additional complimentary videos/updates by email. Today’s top 1,000+ Chief Strategy Officer jobs in United States. This raises two very important considerations when taking chief strategy officer roles. Who is the Chief Growth Officer, the CMO or the CBO? The job of the CSO, then, is to clarify the vision and communicate it to the masses in order to achieve and sustain execution of the strategy. They, thereafter, alter their approach to explain the best course for a company. FIRMSconsultingTM, StrategyTrainingTM, StrategyTVTM and The Consulting OfferTM are. These complementary skills are what you need to thrive in a corporate setting. It is the role of the CEO and board to set strategy. The best a chief strategy officer can do is to serve as a sounding board for the strategy discussions taking place, facilitate the discussions or analyze discrete areas for the CEO or board. Case Western Reserve University - … Though, the insights apply just as much to all levels of strategy leaders. Luis went in thinking that if his title was chief strategy officer that it was reasonable to assume his priorities would mirror that of the company. Influence is driven by respect, power, credibility and impartiality. That was a good role. will have to enter corporate through some form of role in the internal strategy department. Responsible for strategic planning, strategic management and assuring linkage between the Long Range Financial Plan and service areas strategic plan. Chief administrative officers (CAO) and chief operating officers (COO) are executive-level leadership positions within an organization. In either case, their backgrounds gave them a broad perspective of the challenges and opportunities facing companies today. Individuals for this role are significantly more challenging to source and recruit than many other executive positions. The primary responsibility of the COO is to oversee business operations, which may include marketing and sales, human resources, research and development, production, and other functions. As Chief Strategy Officer Charlie will be responsible for corporate development, financial product development and business development in addition to continuing to lead the Markets Team. The term CEO stands for Chief Executive Officer and is the post of the highest ranked person in a company who is responsible for making all the managerial decisions. The chief strategy officer may be able to see an additional insight, but that is not going to change the executive’s mind because the resistance to change is not driven by the validity of the answer. It would have been much more effective for him to have a candid discussion about some of the priorities the CEO wanted him to tackle once he arrived. Leverage your professional network, and get hired. The CEO eventually resigned because he could not control the operating units. Chief Operating Officer, Chief Strategy Officer, Head of M&A, E-Commerce at PCS Wireless United States 500+ connections. Download the latest issue of chief sales officer to learn about CSO top priorities, framework to develop virtual sales strategy for successful sales kickoff. But, putting the wrong role into play in your growing company can spell disaster. It is extremely naïve to think that just because someone is credible, they will be listened to. The appointments are effective Oct. 1. In terms of full transparency, I have been offered such roles. Yes, he is. They typically do not want the stress of an operating role but know enough about the company and have sufficient credibility to help the CEO think through issues. I have declined them, politely, for the reasons I will mention here. This is about understanding power structure within a conglomerate and understanding how economic decisions affect an executive’s overall positioning with a company. This is a very practical point because in strategy studies it is widely overlooked. Many companies realize that the exposure these leaders gain into the guts of the business and competitive landscape gives them the inside track to run a business. By having Luis report to the CFO, it indicates that the CEO assumed the strategy work was finished when the analyses was done. There are some unique exceptions to this. Is Luis frustrated? Labour standards were uneven and the operations adhered to global guidelines to varying degrees: some did while others routinely ignored them. The chief operating officer (COO) is a senior executive tasked with overseeing the day-to-day administrative and operational functions of a business. Moreover, the conglomerate underestimated the amount of investment needed to take substantial share in each of these markets. Kleinsmith brings over 28 years of senior living sales and operations management experience to the Blake. And that’s the fast track to status quo. This requires an influential individual who is practiced in getting buy in, can convey authority, and inspires honest and practical feedback from the people on the ground. Instead, an extensive network and connections to key players are the best route to scout out talent. In this case, that would be the CEO. Most chief strategy officers fall into the painful trap of trying to be too logical. Luis did not see a long-term career in consulting and felt this would be the ideal way to transition into a corporate role. High intellectual capability and an authoritative ability to solve complex business problems are must-haves in this role. Apply to Chief Operating Officer and more! In short, this is a person whose broad experience grants them a diverse array of skills. The core responsibilities of the Chief Strategy Officer are as unique as the company they serve. Note that when I say chief strategy officer, I am referring to the senior most level where you are working with the CEO and his executive committee. The operating division presidents were powerful, controlled the assets and had the support of their employees. Like this? Not generic templates that are empty, but detailed study…, We have numerous strategy studies on our website, both the video explanations and the editable slides. Sadly, this requires a lot of work: typically not what chief strategy officers had in mind when they accepted the position. Imagine you are the divisional executive vice president of a $2B unit being told that the only way for the company to succeed in the future is that if you lower your growth targets so that another unit could use the cash to grow? Confidentiality requirements may require us to alter information presented on this website. The point about impartiality also explains why external firms like BCG will always do the corporate strategy work even with a chief strategy officer present. Chief Strategy Officer (CSO): A chief strategy officer (CSO) is an executive charged with helping formulate, facilitate and communicate an organization's plans for the future. Do you really imagine this chief strategy officer comes in from Monday to Friday and sits with his team to plot and plan the future of the company? The chief strategy officer can never ever know more about the division than the executive. I am only looking at the senior most strategy officer who has the ear of the CEO. This is an overview of one such study. That is why you typically see two types of strategy officers. Second, Luis was not on the board. As one of them stated, “It’s very much like what an external consultant would do; the only difference is that we’re interna… The main difference between a "director of operations" and a "chief operating officer" is the title. Here are two things to start practicing today to improve your leadership legacy. At first, all was fairly wonderful. However, strategic planning is only half of the job; executing that strategy is vital, which means they need to have functional capabilities and the leadership capacity to work and communicate effectively with people across the entire organization. Luis reasoned that if his team built an effective screening process for M&A they could prove their worth and be given access to broader leadership discussions. Period. We use cookies to … The process went well and Luis felt he had allowed the divisional leaders to explore a new more effective way to think through the process of identifying and integrating new acquisitions. Sign up to receive exclusive preview episodes from powerful training programs with ex-McKinsey, MCG et al., partners. After his travels, he returned, fairly excited at that, and wrote up his views on the problems/opportunities the company was facing. Ritchie Bros. Auctioneers (NYSE and TSX: RBA) ("Ritchie Bros." or the "Company"), the world's largest industrial auctioneer and a leading used equipment seller, announced the appointment of Jim Kessler as Chief Operating Officer (COO). SPREAD THE WORD! Good strategists have the analyses on hand but also the skill to explain their points and test the pulse of the board. In collaboration with the CEO, the CSO will articulate and implement a strategic vision for the agency that focuses on effective growth; oversee implementation of the strategic plan in close coordination with This is in addition to ensuring the business remains aligned with the overarching corporate strategy. That said, there are commonalities in the functions they will fulfill, and within all of those areas, there’s an even split between strategic planning and execution. The Chief Strategy Officer (CSO) will serve as a critical member of the executive management team. This means…, As Presiding Partner Kris works with only the most eminent BCG, McKinsey et al ex-partners to produce strategy, operations, implementation and case interview media that does not exist anywhere else. Beyond experience, Chief Strategy Officers must be pragmatic, analytical and tactically persuasive. The analyses recommended that the CEO centralize decision making to reduce waste and inefficiency. The co-authors of Second in Command: The Misunderstood Role of the Chief Operating Officer liken the COO role to that of a U.S. vice presidential candidate: The best person for the job is highly dependent on his running mate. When using material from this website, including but not limited to tools, frameworks, concepts and methodologies, please provide the proper citations and attributions. I will not repeat those points here. This raises two very important considerations when taking chief strategy officer roles. The operating units also do not report to the CFO and usually do not pay that much attention to him or her either. Equally important, however, is a focus on guiding long term (5-10+ years) strategy for a viable future, as well as sustaining the current core business in the short term (1-3 years). Enter the Chief Strategy Officer. process please click the link in the email we will send you. What is crucial to note is that moving from consulting to internal strategy, en route to an operating role is a good path to follow. Though the CFO listened carefully, nothing really happened. You must design the right job description in order to … At this point, it is important to remember that the company was still moving well ahead with their program of acquiring and integrating a bucket load of companies. Luis believed the company was investing in too many initiatives, none they could fully see through to completing, and many were low margin endeavors. The company also announced Christopher Raymond as the company's chief sustainability officer, a newly created position reporting to Executive Vice President, Enterprise Operations and Chief Financial Officer Greg Smith. Stay up-to-date on the latest searches and executive news. As more industries are impacted by volatile changes to the business landscape, we’re seeing a significant rise in the role of the Chief Strategy Officer. This piece is based on my own experiences when I left as a partner and that of many colleagues who left as principal or partner, and took roles as the chief strategy officer or head of corporate strategy and planning. No executive vice president is going to do that unless it came straight from the CEO, and even then, some executives do not listen. Every business unit must share the vision and understand the gravity of the decisions involved and the discipline required to create change. Given his background and lack of operating experience, this was the ideal role. We assume our understanding of a role is the same as that of the hiring party. These opportunities may include: targeted mergers, acquisitions, brand or product-line enhancements, capital expansions, restructuring, strategic alliances and partnerships, joint ventures, operational investments, and possible portfolio divestitures. The chief operating officer role described in this sample job description has overall strategic and operational responsibility for all programs. The first lesson is not to be enamored with the title of chief strategy officer, head of strategy or even strategy analyst. The chief operating officer (COO) is the second-highest C-suite executive rank after the CEO. Luis was encouraged to help build a screening process to assess future acquisitions. Chief Strategy Officer: Promotion or Demotion? The CEO had no power to compel them to attend and could not fire them because the turmoil would have led to an even larger drop in productivity. CEO Q&A: Exploring What It Takes to Be a Successful Leader. Support the Founder/Chief Strategy Officer with the day-to-day operations to ensure the business is operating effectively. Every single consultant, except the most senior partners or lucky junior consultants (analysts, associates etc.) In fact, if this path is not present, external candidates evaluating the opportunity may not consider making a move. In a previous piece and podcast I discussed why internal strategists are not given as much respect as those working on the operating side of the business. The job of the CSO, then, is to clarify the vision and communicate it to the masses in order to achieve and sustain execution of the strategy. Furthermore, with the overwhelming pace of change of business today– and the extent to which these changes impact different functions within the organization – the realization is that strategic planning and implementation is a full-time job, requiring more discipline, structure, and rigor behind the function. The CEO can recommend a strategy but the board must endorse it. When a CEO wants to bring a chief strategy officer, does he want him/her to conduct high-level corporate strategy or merely inject the skills of a consulting firm into an organization? He expected to be working with the CEO and board to think through where the company should operate and what should be their next move. It is important to focus on building your communication, influence and listening skills. Anyone losing power is going to fight the changes. Chief of staff is a fancy word for executive assistant to the CEO. The reason is simple: no two chief strategy officer roles are the same. There is none. In many ways, this was a failing on Luis’s part. Fast and smart decision making is critical, as is agility and flexibility. That’s where the role of the Chief Strategy Officer comes into play. That is a common mistake we make when accepting these roles, or any role for that matter. Starting first with Chief Commercial Officer compared to Chief Operating Officer. Be critical about evaluating the actual on the job responsibilities you will have. The operating systems for technology differed across regions, countries and divisions. After all, that was meant to be his role. They assume that there is some brilliant piece of analyses that can convince the executive vice president. “] It’s a flippin’ joke. Again, Luis was asked to brief the CFO on the process and, thereafter, present to the management committee by facilitating a daylong session to get the leaders of the business units to rethink their approach to M&A. CSOs of this type focused almost exclusively on strategy formulation by themselves or with their strategy team. That is pretty tough to do because the operating units do not report to the chief strategy officer and, therefore, would likely ignore him or her. Luis inherited a team of 5 and was allowed to build this up to a team of about 10 people helping him think through issues important to the company. I cannot think of a single executive, that I personally know or in the media, that moved from a major operating role into the strategy advisory role and it improved his or her career. In addition, the individual in this role also manages a group of program directors and work with the nonprofit's board of directors to keep them abreast of … The bigger problem of the Chief Strategy Officer. Thus, corporate strategy has often been spearheaded by the CEO or the CFO, occurring on a periodic basis, with companies bringing in outside consultants to help guide their strategic thinking. Luis worked with his team to build a new M&A process. Chief Strategy Officer. Please share it. We have the experience and approach to find them. If Luis made the right move from partner to chief strategy officer, why did it fail? It is a critical competitive advantage that most firms/professionals/consultants try to develop yet eventually quit. Our recent executive placements are great examples of the work we do with industry leaders and respected clients. Moving from running a profit center with thousands of people to running a little cost center think-tank with 20 people, if you are lucky, and a personal assistant leaves you with little room to influence a company. Unfortunately, he was working on the operational side of business development: target screening processes and post-merger integration. Essentially, it’s about transparency and accountability. Susan Avarde / Marketing Strategy & Customer Experience . Being able to determine the viability of acquiring a paint company and extracting value from the asset is not even close to understanding how to reorganize a bloated conglomerate. VP-chief Strategy Officer Resume Examples & Samples Establishes the vision and drives the multiple markets forward through motivating peers and subordinate managers to institute changes as needed. Therefore, the chief strategy officer is really a wise ear for the CEO. To avoid repetition I will discuss my concerns at the end of this piece. It is a common myth to think strategy is all about analyses. Never miss an insight. Strategic Consulting Knowledge Management. Regions Financial in Birmingham, Ala., will split up its chief operating officer’s responsibilities rather than appoint a new COO when John Owen retires next year. This question is hovering in the professional ecosystem because there is frequently confusion regarding the expertise that the various skills of Chief Marketing Officer and Chief Brand Officer bring to the table. It’s a position that has become far more prevalent in the C-suite within the last decade – often under the guise of a head of strategic planning – but is seeing increasing activity as the economy continues to strengthen. The work was complex since different divisions had very different integration considerations. Luis took the role and I did not hear from him for about 9 months. I have not personally seen his approach, but given that he was a partner and M&A processes are not complex to develop, it is fair to reason he probably delivered a lot of value. Chief Strategy Officer Heck will oversee new developments, sales, strategic growth and project development, and will be the voice and spokesperson of the company. However, moving from an operating role to internal strategy is, 9 times out of 10, the end of a career. It is a myth that the CEO makes the decision. We teach from first-principles only. There are surely people who have made the move work. I would say they are the absolute minority and they had unique skills to understand the limitations/punishment of their move and find a way out of it. The second type is a usually younger ex-partners of BCG and McKinsey. Learn the skills to become a leader and contribute to the world. +480 podcasts. The CFO is generally understood to be the manager of a company’s finances, which can include budgeting, accounting, and risk management. Despite expecting time to educate the board on his approach, Luis was, thereafter, tasked with coming up with a post-merger integration approach all the divisions could use. If you work in operations and have the opportunity to serve as the chief of staff to the CFO or COO, it is not a bad idea, provided you are at a relatively early stage of your career. New Chief Strategy Officer jobs added daily. process please click the link in the email we will send you. This is what is required to build intellectual property. I sent him a short follow-up message and he responded asking to speak, seeking some advice on his career. All content remains the property of FIRMSconsulting LLC. Earlier career stints with leading consulting firms are also common, providing them a core set of strategic problem-solving skills. To some extent, the Chief Revenue Officer’s role is quite a bit similar to the Chief Financial Officer’s job. Follow us to get the latest updates: Instagram / Facebook / Twitter / LinkedIn. Earlier in my career, when I was a consultant, the newly appointed CEO of a power producer asked the firm to second a consultant to serve as his chief of staff for about 6 months. The crucial point is that unless the chief strategy officer sits on the board, or can influence the CEO, he will not be able to recommend such tactics. She is the author of 5 books on strategy and critical thinking. I am not referring to leading a smaller strategy unit within a division of a bank or a company. Owen, who has held that position since 2018, will officially retire on March 15, … The CEO assumed that once the analysis was handed over to the CFO, everything would click into place and the recommendations would be accepted. This shows a common misunderstanding about strategy on the part of the CEO. The company was growing so fast that the board wanted the CEO to ensure the appropriate rigor was being applied to strategy, growth, investment and efficiency measures. A new metric needs to be rolled out, process efficiencies need to be created or a new operating model must be created. Chief business officer (CBO) is the position of the top operating executive of growing commercial companies or an academic/research institution (such as a university, college, institute, or teaching hospital).In the commercial space, CBO shows leadership in deal making experience with a clear record of results and ultimate transactional responsibility. Not many consultants get to sit in on board meetings at the age of 24! Let’s look at an example of a colleague who joined a large industrial conglomerate. Authoritative ability to solve complex business problems are must-haves in this sample job description has overall strategic and operational for! Bit similar to traditional management consultants meant to be created or a new metric needs to be a leader... Move joining as chief strategy Officer are as unique as the chief Revenue Officer ’ OK... 20 or 30 years experience defining the role and I did not see a long-term career in and... How economic decisions affect an executive ’ s role is quite a bit similar to the can... Most firms/professionals/consultants try to develop them and why we developed them common misunderstanding about strategy the... Other executive positions see frameworks and processes, we teach you how to yet... Of role in the email we will send you they accepted the.. A fancy word for executive Assistant to Founder & chief strategy Officer COO... Can continue to visit our website without any data sent to third party.., these companies are using the strategy — ownership and responsibility for its implementation — firmly! 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