Role of Strategists in Strategic Management Explained
Learn about the key individuals and groups involved in strategic management, including the role of strategists such as consultants, executives, entrepreneurs, and senior management. Understand the significance of Board of Directors (BOD) and the Chief Executive in formulating and evaluating strategic decisions. Explore the critical role of senior management in driving organizational success through effective strategy implementation.
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Role of Strategists in Strategic Management Disclaimer: The study material provided to our students of BBA/MBA of Department of Business Management is solely for the purpose of teaching and learning and has been obtained from varied sources. I do not claim for the originality of the content /resources/reading materials (PPTs, PDfs, You Tube Contents, Book Pdfs, Videos) shared as my own creation, as the contents/reading resources are a compilation from varied sources including open access sources and these are shared for the instructional and learning purpose by the students. I acknowledge and thankful to the sources, websites content writers and authors for their generosity in hosting their contents for wider dissemination and use. Dr. Rahil Yusuf Zai DoBM, IGNTU
Strategists are individuals or groups who are primarily involved in the formulation, implementation evaluations of strategy. In a limited sense all managers are strategists. There are persons outside the organization who are also involve in various aspects of strategic management. They too referred to as strategists. and
Strategists and role Consulta -nts Executiv -e assistant Entrepre -neurs Middle level manager -s BOD Strategists SBU level executiv -es CEO Corporat -e planning staff Senior manage- ment
Entrepreneurs are the promoters who consists the idea of starting a business enterprises for getting a maximum returns on their investment. They are waiting for an environment change and there by for an opportunity to exploit the situation in their role right from promotion of the venture. So, very important in a new business enterprise.
3.Board of Directors(BOD) Board of directors are professional elected on the board by the shareholders of the company as per rules and regulations of companies act 1956. They are responsible for general administration of the organization. They are suppose to guide the top management in framing business strategies for accomplishing pre determined objectives.
In the management circle the chief executive is the top man, next to the director in the board. He occupies the most sensitive post being held responsible for all aspects of strategic management formulation to evaluations. He is considered as most important responsible to play major role in strategic decision making. right from the strategies being
5. SENIOR MANAGEMENT Starting from chief executive to the level of financial or profit center heads, these mangers are involved in various aspects of strategic management. Some of the members of senior management act as the board of directors on rotational manner. All of them serve on different top level committees set up by the board to look after the matters of strategic importance and other policy issues. Executive committees consisting of senior managers are responsible for implementing and evaluating the strategies.
6. Strategic Business Unit(SBU) level executives These executives are treated as departmental heads, are supposed to act as main strategists keeping an eye on optimum benefits of their departments. These strategists enjoy maximum amount of authority and responsibility with in their strategic business unit.
7.Corporateplanningstaff These staff play a supporting role in strategic management. This staff assists the management in all aspects of strategy formulation and implementation and evaluation.
They are basically operational planners they may at best be involve as sounding boards for departmental plans as implementers of the decisions taken above, followers of policy guide lines and passive receivers of communication above functional strategic plans. By nature they are implementers of functional strategies, they rarely employed for any other purpose in strategic management.
An executive assistants are the persons who assists the chief executive in the performance of his duties in various ways. These could be ---- To assists the chief executive in data collection and analysis. Suggesting alternatives where decisions are require. Preparing brief reports relating to projects. Helping in public relation and liaison function. Acting as a filter for the information coming from different sources.
CONCLUSION Among all the strategists -- Board of Directors, executive officers, and executive assistants are the most important and played the role of bread and butter role strategies. -- chief of corporate
