Strategy managers look at company goals and figure out concrete, realistic methods for achieving the goals. Often, strategy managers are also involved in the formulation of the goals themselves, which means they can assist executives in deciding which goals are realistic and most beneficial for the company.
Once companies decide upon their goals, strategy managers begin developing plans that include staffing and funding allocations, as well as smaller objectives and milestones; then, managers assign tasks to various departments. Strategy managers are responsible for the ongoing coordination of all objectives and projects, ensuring that they work in concert toward the common goals. This means that strategy managers create a system of communication among various groups; they often spend time traveling among various offices and groups to assess their progress.
The two most important attributes that strategy managers must possess are analytical and organizational skills; they use these abilities to analyze company goals, break them into sequential, achievable objectives, assign them to various groups, and track progress. Time management is also critical, as is flexibility and the ability to adapt. Communication abilities are also key, as strategy managers are in constant communication with various groups as they coordinate activities.
Companies often require strategy managers to hold at least a bachelor’s degree in finance, mathematics, statistics, or business, and prefer a related master’s degree. Strategy managers usually have five or more years’ experience in a related role as well.
Strategy Manager Tasks
- Perform data analysis to support investment and financial decisions.
- Manage company investment portfolios and propose plans for improving investments.
- Work with company management to develop business strategies.
- Evaluate and contribute to the execution of mergers and acquisitions.