Chief strategy officer
Encyclopedia
A Chief Strategy Officer (CSO), or chief strategist, is an executive who is responsible for assisting the chief executive officer
with creating, communicating, executing, and sustaining strategic initiatives within a company
or agency
.
A typical CSO is not a pure strategist that creates long-term planning that is isolated from the company's current initiatives. Many CSOs are considered "doers" first and have the past experience to help advise and execute. Chief Strategy Officers are often executives who have worn many hats before at a variety of companies or agencies before taking on the responsibilities and tasks that come with the job title.
Chief Strategy Officers are responsible for the critical jobs that are the most important aspects of successful strategy execution:
Today many CEOs have less time to devote to executing strategy. As a result, CEOs are appointing CSOs for their organizations. The CSO position is becoming popular amongst many large multinational
Fortune 500
companies, including Oracle Corporation
, Panasonic
, Accenture
, Cisco Systems
, Nortel Networks, Cognos
and Global Healthcare Resource, each of whom have created CSO positions in their top management teams.
A Chief Global Strategist (CGS) is one of the highest-ranking corporate officers, administrators, corporate administrators, executives, or executive officers, in charge of the global strategy
and the domestic and international expansion of a corporation
, company
, organization
or agency
.
The position is a relatively new one in the private sector and a reflection of the influence of globalization
upon companies and other organizations that seek to expand their influence, whether as a matter of necessity to survive or the exploration of an opportunity.
A prominent example is Howard Schultz
of Starbucks
who was Chairman and CEO but in 2000 left the position of CEO to become Chief Global Strategist. Schultz returned to his previous role of chief executive officer on January 18, 2008.
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
with creating, communicating, executing, and sustaining strategic initiatives within a company
Company
A company is a form of business organization. It is an association or collection of individual real persons and/or other companies, who each provide some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be...
or agency
Government agency
A government or state agency is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an intelligence agency. There is a notable variety of agency types...
.
A typical CSO is not a pure strategist that creates long-term planning that is isolated from the company's current initiatives. Many CSOs are considered "doers" first and have the past experience to help advise and execute. Chief Strategy Officers are often executives who have worn many hats before at a variety of companies or agencies before taking on the responsibilities and tasks that come with the job title.
Chief Strategy Officers are responsible for the critical jobs that are the most important aspects of successful strategy execution:
- Must communicate and implement a company's strategy internally and externally so that all employees, partners, suppliers, and contractors understand the companywide strategic plan and how it carries out the company's overall goals.
- Must drive decision-making that creates medium- and long-term improvement.
Today many CEOs have less time to devote to executing strategy. As a result, CEOs are appointing CSOs for their organizations. The CSO position is becoming popular amongst many large multinational
Multinational corporation
A multi national corporation or enterprise , is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation...
Fortune 500
Fortune 500
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...
companies, including Oracle Corporation
Oracle Corporation
Oracle Corporation is an American multinational computer technology corporation that specializes in developing and marketing hardware systems and enterprise software products – particularly database management systems...
, Panasonic
Panasonic
Panasonic is an international brand name for Japanese electric products manufacturer Panasonic Corporation, which was formerly known as Matsushita Electric Industrial Co., Ltd...
, Accenture
Accenture
Accenture plc is a global management consulting, technology services and outsourcing company headquartered in Dublin, Republic of Ireland. It is the largest consulting firm in the world and is a Fortune Global 500 company. As of September 2011, the company had more than 236,000 employees across...
, Cisco Systems
Cisco Systems
Cisco Systems, Inc. is an American multinational corporation headquartered in San Jose, California, United States, that designs and sells consumer electronics, networking, voice, and communications technology and services. Cisco has more than 70,000 employees and annual revenue of US$...
, Nortel Networks, Cognos
Cognos
Cognos was an Ottawa, Ontario-based company making business intelligence and performance management software. Founded in 1969, at its peak Cognos employed almost 3,500 people and served more than 23,000 customers in over 135 countries.Originally Quasar Systems Limited, it adopted the Cognos...
and Global Healthcare Resource, each of whom have created CSO positions in their top management teams.
A Chief Global Strategist (CGS) is one of the highest-ranking corporate officers, administrators, corporate administrators, executives, or executive officers, in charge of the global strategy
Global Strategy
Global strategy as defined in business terms is an organization's strategic guide to globalization. A sound global strategy should address these questions: what must be the extent of market presence in the world's major markets? How to build the necessary global presence? What must be AND the...
and the domestic and international expansion of a corporation
Corporation
A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business. Early corporations were established by charter...
, company
Company
A company is a form of business organization. It is an association or collection of individual real persons and/or other companies, who each provide some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be...
, organization
Non-profit organization
Nonprofit organization is neither a legal nor technical definition but generally refers to an organization that uses surplus revenues to achieve its goals, rather than distributing them as profit or dividends...
or agency
Government agency
A government or state agency is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an intelligence agency. There is a notable variety of agency types...
.
The position is a relatively new one in the private sector and a reflection of the influence of globalization
Globalization
Globalization refers to the increasingly global relationships of culture, people and economic activity. Most often, it refers to economics: the global distribution of the production of goods and services, through reduction of barriers to international trade such as tariffs, export fees, and import...
upon companies and other organizations that seek to expand their influence, whether as a matter of necessity to survive or the exploration of an opportunity.
A prominent example is Howard Schultz
Howard Schultz
Howard Schultz is an American business magnate. He is the best known as the chairman and CEO of Starbucks and a former owner of the Seattle SuperSonics...
of Starbucks
Starbucks
Starbucks Corporation is an international coffee and coffeehouse chain based in Seattle, Washington. Starbucks is the largest coffeehouse company in the world, with 17,009 stores in 55 countries, including over 11,000 in the United States, over 1,000 in Canada, over 700 in the United Kingdom, and...
who was Chairman and CEO but in 2000 left the position of CEO to become Chief Global Strategist. Schultz returned to his previous role of chief executive officer on January 18, 2008.