Chief strategy officer
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A Chief Strategy Officer (CSO) is an executive who is responsible for assisting the chief executive officer with creating, communicating, executing, and sustaining strategic initiatives within a corporation.
A typical CSO is not a pure strategist that creates long-term planning that is isolated from the corporation's current initiatives. Many CSOs are considered "doers" first and have the past experience to help advise and execute. Chief Strategy Officers are normally executives who have worn many hats before at a corporation before taking on the responsibilities and tasks that come with the job title.
Chief Strategy Officers are responsible for three critical jobs that are considered to be the most important aspects of successful strategy execution:
- Must portray a company's strategy to every business unit within a corporation so that all employees, partners, contractors understand the corporate wide strategic plan and how it backs into the companies overall goals.
- Must drive immediate results within a corporation, whereas the CEO is normally responsible for driving long-term results and providing vision.
- Must drive decision-making that creates immediate change.
Today many CEOs have less time to devote to executing strategy. As a result, CEOs appointing CSOs for their organizations. The CSO position is becoming popular amongst many large multinational Fortune 500 companies, including Accenture, Cisco Systems, Nortel Networks, Hyperion Solutions Corporation and Cognos, each of whom have assigned CSOss to their top management teams.
A Chief Global Strategist (CGS), or chief strategist, is one of the highest-ranking corporate officers, administrators, corporate administrators, executives, or executive officers, in charge of the global strategy and global 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 as corporations and other organizations 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. [1] Schultz returned to his previous role of chief executive officer on January 18, 2008.