chief strategy officer organization chart

Conant was confident the new CSO would help do the same for the soup company. Organizational Chart; Organizational Chart. By understanding how the duties of the chief strategy officer (CSO) can vary significantly from organization to organization, boards and CEOs can make better decisions about which type of CSO is necessary for their leadership teams. All executives split their time to varying degrees across three strategy horizons—usefully defined in Mehrdad Baghai, Stephen Coley, and David White’s The Alchemy of Growth to mean extending and defending the core business in the short term (horizon one), building emerging businesses in the medium term (horizon two), and creating viable options for the long term (horizon three). By the time the two months were up, Black and Falk had together created an updated list of goals, informed by Black’s newly acquired understanding of the company’s operations and aspirations plus his rich store of leadership and strategy experience. A chief information officer usually manages a team of IT specialists responsible for maintaining the day-to-day IT operations. To make sure decisions align with strategy through all levels of the organization, top strategy executives must be comfortable working at 50,000 feet, 500 feet, 50 feet, and on down. The reality is far more urgent, however: One-third of our survey respondents went so far as to describe their companies as “under siege.” Most characterized their industries as highly volatile. When to Hire a Nonprofit Chief Strategy Officer The CEO and the leadership team create the company’s strategic vision and set its course. The broad mix of skills and experience required of a CSO is rare, which makes those who possess this combination highly valued. Executive Director, Corporate Finance . The presiding person leading the business and possessing the highest authority in the company is chairman. Get free, timely updates from MIT SMR with new ideas, research, frameworks, and more. Chief Strategy Officer (CSO): A chief strategy officer (CSO) is an executive charged with helping formulate, facilitate and communicate an organization's plans for the future. He or she must be that person who, in the CEO’s stead, can walk into anyone’s office and test whether the decisions being made are aligned with the strategy and are creating the desired results. Chief Information Officer(CIO) 4. But CSOs particularly keep their eyes trained on horizon two and work to present a seamless picture of all the horizons. Address. But even more important for swaying opinions and conveying authority is having deep knowledge in two functional areas that are central to execution these days: technology and human capital. The chairman leads and influences the board of the directors and chief officers to manage the financial, human, technical and environmental working of a corporation. In fact, nearly every CSO in our survey said strategy development and execution in their companies is half deliberate and half emergent. CSOs must be adept at exerting their influence on other executives who might be skeptical—52% of the strategy executives in our survey said having this skill was critical for achieving their goals. The execution of the strategy — ownership and responsibility for its implementation — resided firmly with the business units. As senior vice president of strategic planning during Maurice “Hank” Greenberg’s tenure, Schreiber’s focus was on implementing investment decisions and acquiring companies selected by the management team. Special Offer. Our investigation revealed that strategy executives are charged with three critical tasks that together form the very definition of strategy execution. The CSO assists and reports to the CEO, and to the CFO in some instances. Duncan N. Angwin is professor of strategy and MBA director at Oxford Brookes University Business School in Oxford, United Kingdom. The following are some of the common C-Level titles: 1. This is where a skilled CSO can be quite beneficial! They do not emerge from predictable backgrounds with easy-to-map career paths or aspirations, and their skills, experiences, best practices, and preferences run the gamut. Chief Executive officer(CEO) 2. Controller's Office Financial Planning & Analysis University Partnership Program. What companies should we consider acquiring? But most CSOs consider themselves doers first, with the mandate, credentials, and desire to act as well as advise. Schreiber’s experience, while impressive, is not unique. For underperforming management teams, private-equity funds are often lurking, ready to make a hostile bid. Office of the CFO Organizational Chart (PDF) Address. Schreiber and other CSOs don’t just wait for the phone to ring, however: They preemptively take the lead on strategic questions that overwhelmed business-unit heads just don’t have time to deal with. Web Login. CSOs don’t just wait for the phone to ring. In this article, three authors from Accenture share the results of their research on this emerging organizational role. Our findings identified a significant demarcation between whether the CSO was focused on the formulation of the strategy or the execution of the strategy. “My years in consulting taught me how to develop and critique strategy, but the value-added probably comes more from my business leadership experience. The Office of the Chief Information Officer is under the leadership of the Chief Information Officer, Gundeep Ahluwalia, with Deputy Chief Information Officer (DCIO) for Administration and Strategy Louis (Lou) Charlier and the Deputy Chief Information Officer for Operations, Rick Kryger. Download the Office of the Chief Financial officer and Senior Vice-President organisation chart.. Chief Financial Officer and Senior Vice-President. (In 2005, he was named AMD’s chief innovation officer. When decisions below the executive suite aren’t being made in accordance with strategy, much of the CSO’s job involves learning why and quickly determining whether to stay the course or change tack. Also consider that stakeholder demands from all quarters are putting pressure on CEOs to deliver results rapidly—and deliver them in line with factors that are only tangentially related to the making and marketing of products or services. When Snap appointed a chief strategy officer (CSO) in 2014, the move was widely noticed — and not just because the owner of the Snapchat messaging app had picked a banker who made his name advising on the massive initial public offering of Alibaba, the Chinese e-commerce group. Enter the Chief Strategy Officer. Further, as Harvard Business School professor Joseph L. Bower has noted in these pages, iron-fisted control of execution often eludes the top team’s grasp, as line executives seek to define strategy on their own terms. The execution of the strategy — ownership and responsibility for its implementation — resided firmly with the business units. Recognizing a need for high-level help, the CEO initially sought a “chief growth officer.” The person chosen for the role, an internal business leader with whom the CEO had a long working relationship, realized that in order to grow, the company needed to rebuild its sales pipeline, explore different product lines, and reposition its brand. Greater complexity on all fronts may explain why, according to one study, top management spends less than three hours a month, on average, discussing strategy issues (including mergers and acquisitions) or making strategic decisions. So the CSO’s attention to this period underlines the unique perspective this individual brings to the organization. To explore the role of the CSO, we conducted 24 interviews with CSOs at U.K. companies that are part of the FTSE 100 Index, across a number of industrial sectors. From the outset, it was clear that there was a variation in CSO roles, focused on two dimensions. ), The CSO at times functions as a sort of “mini CEO,” someone who must see the issues confronting the company from as broad a perspective as the chief executive does, says Kimberly-Clark’s Black, who previously served as COO of Sammons Enterprises, a conglomerate with $27 billion in assets, and as president of Steelcase’s international operations. At Cadbury Schweppes, Todd Stitzer went from being CEO of Dr Pepper/7 Up to becoming chief strategy officer to becoming deputy CEO of the entire company to finally being appointed CEO—all between 1997 and 2003. One strategy chief we spoke with said he and the CEO of his company had worked together at three different businesses over a seven-year period before they both ended up at a health care management firm. He or she must be that person who, in the CEO’s stead, can walk into any office and test whether the decisions being made are aligned with the strategy and are creating the desired results. Vice Chancellor & Chief Financial Officer 200 California Hall Berkeley, CA 94720. As one of them stated, “It’s very much like what an external consultant would do; the only difference is that we’re internal.” As a result, we have called this archetype the “Internal Consultant.”, This type of CSO adopted a very rational approach to the development of strategy. CSOs of this type focused almost exclusively on strategy formulation by themselves or with their strategy team. They instruct others and serve as mentors, certainly. Yet there are times when an outsider is called for, particularly when a fresh strategic perspective is required. Chief Strategy Officers (CSOs) face a number of challenges distinct from those faced by other members of the C-Suite—in particular, the breadth and ambiguity of the CSO’s role. In the medium term, CSOs add value by building world-class strategy development and execution capabilities within the company. Department Links. Therefore, he worked with the heads of Sales, Marketing, M&A, and Strategy Development to address stalled growth, identify attractive new markets, and formulate aggressive acquisition strategies. Most of the top strategy executives we polled said they split their time almost evenly between strategy formulation and execution, yet their statements reveal a tilt toward the latter. There’s no simple, step-by-step recipe for success in the role of chief strategy officer—but there are a few essential ingredients. Immediately before becoming Campbell Soup Company’s CSO, M. Carl Johnson was the executive vice president of Kraft Foods, where he led the former New Meals division through a three-year transformation that helped the unit restore its sales and earnings momentum and significantly grow its operating income. Fundamentally, these are people who wield the authority, and have the complex range of skills, to make strategy happen. These leaders develop strategy and oversee functional teams responsible for safety and security, human resources, finance, information technology, real estate and facilities planning, construction, and maintenance, business operations, audit, Finally, a CSO must drive decision making that sustains organizational change. The CEO’s vote of confidence and a strong résumé confer the credibility that gets you a fair hearing as a top strategy executive. Around 38% of leading businesses operating in European, Middle Eastern and African (EMEA) countries have opened a position for a Chief Digital Officer in their organization chart. Our research was complicated by the existence of a great diversity of titles that fit the role of chief strategy officer—more than 90, in fact. quarterly magazine, free newsletter, entire archive. These individuals are rarely abandoned by top executives who recognize their worth. Successful execution, therefore, depends more than ever on rapid and effective decision making. Eighty-four percent of the top strategy executives who responded to our survey were internal hires; most of the rest came from competing companies in their industries. CEOs are being weighed down by the ever-growing complexity of doing business in a global economy. The Fire Services Headquarters Command (HQ), headed by an Assistant Director of Chief Fire Officer rank to provide planning and management support to the Director as well as policy and logistical support to other Commands. Big Bang Disruption: Strategy in the Age of Devastating Innovation. The demands and intricacies of conducting business in multiple cultures, time zones, and political or regulatory environments are exacting a stiff toll on globe-trotting CEOs. Maybe it’s the CEO and the CEO only. The CEO is ultimately responsible for the vision and strategy of the corporation—so why hire a CSO? Rather, they are seasoned executives with a strong strategy orientation who have typically led major initiatives or businesses and worn many operating hats before taking on the role. Group Accounting; Taxation; Treasury Start with changes to the business landscape—complex organizational structures, rapid globalization, new regulations, the struggle to innovate—that make it ever more difficult for CEOs to be on top of everything, even an area as important as strategy execution. Board of Trustees: Joseph Neubauer, Chairman (view bio) President: Robert J. Zimmer (view bio) [collapsed title=Provost: Ka Yee C. Lee] View Ka Yee C. Lee's bio Dean, The College: John W. Boyer Dean, Harris School of Public Policy Studies: Katherine Baicker Dean, School of Social Service Administration: Deborah Gorman-Smith Dean, Law School: Thomas J. Sign up for a free account: Comment on articles and get access to many more articles. And AMD’s William T. “Billy” Edwards had a rich set of experiences before being named CSO in 2004, including time as CEO of Hesson Labs, line management roles at Motorola, positions with medical equipment start-ups, and nearly a decade with a top strategy consulting firm. At other companies, innovation is at the core of the change effort. All rights reserved. Just as important, the CSO must make certain that those decisions aren’t watered down or ignored as they are translated throughout the organization. For example, your organization may have a strategy that no longer aligns with your goals. For some, that tenure is much longer: In early 2007, Walgreens promoted John Gleeson, a 37-year veteran of the company, to the company’s newly created CSO post. All interviews were conducted either at the CSO’s office or via telephone and followed the same semistructured outline and set of questions. This isn’t to say that CSOs just reflexively push strategic initiatives downward. COOs and CFOs are too wrapped up in day-to-day dealings. Taman H. Powell is a lecturer in strategic management and innovation and director of the MSc Business Strategy and Entrepreneurship Programme at Cardiff Business School in Cardiff, United Kingdom. “It’s a huge job,” the CEO told the manager, “but you’ll have more impact doing this than you would leading a division—and you’re the person I’d feel most comfortable with.” His colleague accepted. They were transcribed verbatim and analyzed through qualitative data management software. Other CSOs were enactors, far more likely to execute the strategy process by themselves or with their team. From day one, the CSO, by being the go-to person on all strategy matters, can focus and speed up decision making. And keeping on top of the challenges at a range of interconnected businesses can tax even the most focused and energetic chief executives. Chief Executives Manager(CEM) 6. What makes them successful? The CSO has to be, in effect, the guardian of that space one to three years out, when the decisions made (or not made) today will show consequences. Should we be investing in developing a new product or improving an existing product? Fuller recently announced it was hiring its first-ever CSO specifically “to emphasize and align the key functions of strategy planning, business development, process improvement, and information technology.” And when Marjorie Dorr was named WellPoint’s CSO, the company’s CEO said in a press release that Dorr would be “working with and across all business units to [establish] specific plans, deliverables, and measurable objectives…in order to drive progress and achieve desired results.”, In the long term, the role of top strategy executive can become an effective succession-planning tool. A strategy that is clear one day can become fuzzy the next as people and competitive environments change. To help existing and aspiring CSOs be more effective, and to aid CEOs who think they might need to hire or appoint a strategy chief, we’ve been studying these executives as a class: Who are they? And executive recruiters confirmed what our interviews revealed: The search for the right candidate, whether internal or external, takes longer than most CEOs expect—a fact that is particularly frustrating for those chief executives looking to implement a growth or innovation agenda quickly. There are usually one or two steps, however, between taking over the CSO role and becoming the CEO.”. One C-suite executive we spoke with was so glad to have a CSO come on board at his firm that he voluntarily gave up his office near the CEO to the strategy chief—but not all executives will be as receptive to the change. Indeed, a CSO’s long experience within a single company—specifically, his or her deep knowledge of the chief architects of the existing strategy and its history—can be crucial for building the federation necessary to enact change. But recent CSO appointments aren’t necessarily just a reaction to today’s complex times. As one of them stated, “It’s very much like what an external consultant would do; the only difference is that we’re internal… The key factor in all of these questions is alignment with company strategy. “Half the time I spend with the CEO, [we’re talking about] people and cultural issues,” one strategy chief told us. They must be able “to tell [the strategy story] in a way people can understand and buy in to,” says Countrywide’s Janet Matricciani. Artificial Intelligence and Business Strategy, How Leading Companies Are Innovating Remotely, Create It’s true that CSOs can’t effectively resolve a strategy without having had a hand in its creation, but these executives quickly get beyond creation to action. What Makes a Great Chief Strategy Officer Three things every CSO should think about. Second, CSOs must drive immediate change. CSOs also ensure that the capabilities they help to develop are implemented by managers and integrated throughout the organization. Boards, under intense pressure to add value themselves, are frequently pulling the plug on CEOs they deem ineffective. “Money is made executing, not strategizing,” reported one chief technology officer, who is also responsible for strategy at his professional services firm. Indeed, we found only one who was directly hired from a consultancy. It’s often easier for an insider to resolve this vision for colleagues. Most important, they understand how to focus the organization on executing today, not just on planning for tomorrow. The second dimension of variation was how the CSO engaged in the strategy process. (See Bower and Clark G. Gilbert’s “How Managers’ Everyday Decisions Create—or Destroy—Your Company’s Strategy,” February 2007.). Finding someone with the skills and experience needed to develop strategy, translate it for people across functions and business units, and drive organizational change is not easy. A chief data officer (CDO) is a corporate officer responsible for enterprise-wide governance and utilization of information as an asset, via data processing, analysis, data mining, information trading and other means.CDOs usually report to the chief executive officer (CEO), although depending on the area of expertise this can vary. Alignment can bend and then break if it is not continually reinforced. CSOs must therefore resolve the strategy—that is, clarify it for themselves and for every business unit and function, ensuring that all employees understand the details of the strategic plan and how their work connects to corporate goals. First, they must clarify the company’s strategy for themselves and for every business unit and function, ensuring that all employees understand the details of the strategic plan and how their work connects to corporate goals. Our survey indicates that this is a common attitude among CSOs: 47% say they use external consultants extensively in their formulation of strategy. Account. An aviation company executive emphasized the point: “We can have the best plan in the world, but if we can’t execute, we won’t be able to pay the bills.” Driving change and enforcing the consistent application of decisions may require taking things as far as Kimberly-Clark’s Black would go: shrinking strategic planning to a small internal team and leveraging the expertise of outside consultants. Chief Financial officer(CFO) 3. By nearly all accounts, strategy development has become a continuous, not periodic, process. Clarifying the corporate vision for others can sound like a relatively leisurely activity, involving meandering chats in offices and conference rooms across the enterprise. And finally, CEOs these days must be prepared to respond to an array of voices: shareholder advocates, the financial community (Wall Street analysts, private-equity deal makers, hedge-fund managers), government regulators, legislators, attorneys general, NGOs, environmental activists—and that’s just people outside the company. And they make sure decisions at all levels align with strategic objectives. For instance, the top management team of one company held a consensus view that IT was an “overhead activity” until its CSO helped it adopt a new perspective: technology as a partner in and enabler of strategy. Of course, simply having the CSO title can help: About one-fourth of our respondents said they accomplish their goals through direct authority. To help companies evaluate candidates, we’ve developed a checklist of some of the personal and behavioral traits necessary for the job, listed here in order of relative importance. Increased volatility, rapid globalization, the rise of new technologies, industry convergence, and changes in the workforce—all have contributed to an environment in which top-down planning needs to be balanced with quick and agile execution. “The role is so peculiar, if you’re not working every angle, I’m not sure how you get anything done,” explains Stephen Dull, vice president of strategy at VF Corporation. Of course, different companies have different strategic imperatives that influence the nature of the CSO role and the type of executive best suited to the task. Consider the backgrounds of a few chief strategy officers. Because he was coming from outside the organization, Kimberly-Clark’s Black told CEO Thomas Falk he wanted to take 60 days to get to know the company better before he signed off on strategic objectives that had been developed before he arrived. As Heidrick & Struggles’s managing partner Krishnan Rajagopalan told us: “People take on the chief strategy role because they want to run the business sooner or later. The chief information officer (CIO) is responsible for Information Technology (IT) strategy to support an organization’s goals and objectives. They ride herd on change initiatives needed to carry out strategy. He’s been the strategy chief under two CEOs at the insurance giant. As the science of human health and well-being has grown, we've been able to grow along with it. The C-Level titles are the highest titles in corporations or businesses and are given to people who head divisions and disciplines. Direct interaction with and feedback from the troops is essential for CSOs to keep their companies agile and their strategies flexible. Some companies, including AIG, Kimberly-Clark, Motorola, and Yahoo!, have discovered a way to fill the execution void: hire a chief strategy officer. Networks of companies are a great boon to industry, as alliances, partnerships, and close supplier relationships facilitate the flow of commerce. What is their mandate? Office of the Chief Risk Officer 505 Broadway Cardinal Hall, 6th Floor Redwood City, CA 94063 United States. Look for CSO candidates with these characteristics: “What we’ve been doing isn’t in line with the company’s strategy—and we need to fix that.” Someone in your organization has the mandate to walk into any office, speak those words, and spark some sort of transformation. Clarifying the corporate vision can sound like a leisurely activity, but the reality is far more urgent. Nearly three decades ago, one executive arguing for the creation of a new top strategy role explained why it should not be folded into the COO’s duties. Furthermore, with the overwhelming pace of change of business today– and the extent to which these changes impact different functions within the organization – the realization is that strategic planning and implementation is a full-time job, requiring more discipline, structure, and rigor behind the function. And they are not specialists who have breathed in only the rarified air of strategy over long careers of thinking rather than doing. Innovation; Technology evolution is constantly transforming the way people interact with the world — raising their expectations every day. That meant the heads of Sales, Marketing, M&A, and Strategy Development would have to report to the CGO. “When we’re starting a new business, I’ll help create the business plan, find the right people, do whatever it takes to make the business happen.”. Office of the Chief Risk Officer. Leaders representing operational areas across the University report to the Executive Vice President and Chief Operating Officer. 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