The Chief Strategy Officer (CSO) is currently one of the most sought after job role across organization and companies in various industries and domains. The CSO is an executive, who is involved with the assistance of the Chief Executive Officer or CEO in the development, communication, execution and sustenance of various strategic business objectives and processes. The responsibilities of the CSO are as follows.
- One of the prime roles of a CSO is communication and implementation of business strategies in a systematic manner both internally and externally. This involves the workforce, partners, stakeholders and other supportive people or service providers who are associated with the changes and the process.
- He is responsible for initiating and driving the decision making process that influences the short and long terms business development and growth.
- He is responsible for indentifying the key strategic areas that require certain alterations and reforms in accordance to the industry trends and devices a strategic plan along the similar lines.
- The effective monitoring and execution of the strategic planning is performed by him.
- The inception phase is considered one of the most intricate and important stage of implementation of strategic initiatives. A CSO looks after this phase and helps in its successful completion.
- In case of implementation of certain policies and strategies external assistance is essential. A CSO decides the level of assistance and introduces the same according to the need.
- Team management associated with the strategic implementation is handled by the CSO.
With all these responsibilities that are directed at various directions, there are four main categories of CSO.
- The internal consultant is associated with the formulation of the strategic initiatives.
- The specialist brings in certain skill sets that are not present within the organization.
- Coach is responsible for providing information to the strategy builders and facilitating communication within teams and outside according to the need.
- Change agents are the facilitators of the strategy and extensively involved in the implementation phase.
Since, there are various types of job roles involved in the CSO profile, there are certain pointers to be kept in mind while recruiting in this position.
- The CSO types forming the internal consultant as well as the coach are mainly associated with the organizational processes and internal communication. Hence, it is better to recruit someone within the system who has been associated with the organization for longer duration and knows the processes in and out.
- On the other hand, specialist and change agents require certain skill sets that are mainly absent within the present structure. Hence, in these cases, it is better to hire from outside.
- One of the basic qualities which should be extensively tested for a CSO role is the problem solving ability and crisis management. It is crucial as it determines company standpoint in relation to the ever changing market and industry trends.
- Lastly, looking in to achievements related to critical condition handling and team management are also significant criteria to look for.