Part-time Strategy Directors
Responsibilities of a Part-time Strategy Director
A Strategy Director works with other directors and senior managers in a business to determine where the business is going and how it will get there. Strategy discussions encompass the purpose and values of the organisation, and focus on setting medium- and long-term goals. This role is usually a full-time one in large, commercial businesses and a part-time one in scale-ups and SMEs.
The Strategy Director is responsible for obtaining and evaluating information about industry and market trends, competitive threats and possible business opportunities. For example, a Strategy Director for a technology company may chart a trend showing customers wanting access to services via smartphone apps. Their research may show that competitors are already developing such apps. They must also be aware of potential legislation that may affect any areas of the company’s operations. In addition, they must understand the internal culture and capabilities of the company they work for.
In a large business, setting strategy is a collaborative process conducted by a team of leaders. A strategy might include decisions about entering new markets, developing products or stopping production of existing products. The Strategy Director guides discussions and contributes insight derived from their knowledge and analysis of the industry and competitors. They make recommendations and tests ideas that are put forward by other members of the team. They draft strategy papers and presentations to be made to the Board or other key stakeholders in the company.
Planning and Execution
A Strategy Director helps a company form strategy, then focuses on plans to implement the strategy. They work with colleagues in senior management to identify what each department needs to do to make a strategy work. For example, the marketing department may need to make the company more visible in a new market or the IT department might need to introduce a new computer system. In addition, the company may need to recruit more people or people with different skills. It may be that the Strategy Director will take responsibility themselves for the delivery of a particular project that forms part of the strategy, such as the development of a new product or service or expansion into a new territory.
In many companies, the Strategy Director acts as a consultant to the Chief Executive. They may be asked to supervise ad hoc research projects or feasibility studies that do not clearly fall within an existing business unit. In businesses that own a number of businesses or are highly departmentalised, the Strategy Director provides strategic advice to the heads of business units.
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Frequently Asked Questions (FAQ)
What is a strategy director?
A Strategy Director oversees a business’s strategy and plan for the future. They work with the CEO and Board of Directors to direct the strategy planning and implementation process.
What does a director of strategic development do?
A Strategy Director is in charge of a business’s strategy process to achieve growth. They define a strategic process. oversee strategy planning meetings, and monitor implementation. They manage opportunities, partnerships and the assessment of growth in line with the Board’s chosen direction.
What skills are required for a strategy role?
A Strategy Director needs to make decisions based on information from across a business. They must be good at working in teams, facilitating communications and building a consensus. They should be great at prioritising and creating effective goals and targets.
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