A Strategy Managers Job Role and Salary Details

A Strategy Managers Job Role and Salary Details

A Strategy Managers Job Role and Salary Details
A Strategy Managers Job Role and Salary Details

April 08, 2022

Strategy managers happen to be the key planners, risk leaders, and analysts who are responsible for setting up strategic plans to enhance ROI. Besides this, they take care of the smooth functioning of the business and implement corporate strategies for supporting business stability and growth.

The position of a strategy manager is essential to attain short-term as well as long-term plans in this competitive industry. By enrolling in a Strategic Management Programme for Senior Professionalsyou will attain the competencies needed to push your limits and accelerate your career.

In this article, you will read about the job role of a strategy manager and how a Strategic Management Programme for Senior Professionals will take your career many notches higher by inculcating you with advanced knowledge, skills, and capabilities.

Be a star strategy manager 

  • Salary of a strategy manager in India
  • Various responsibilities of a strategy manager
  • Strategic planning
  • Risk management
  • Performance management
  • Coaching
  • Collaboration
  • Data analysis
  • Creative problem solving
  • Creating value

Key highlights

  • A strategy manager is accountable for supporting and leading different types of strategic efforts which play an important role in establishing and achieving long-term strategic plans.
  • He is endowed with the responsibility of formulating important pieces of data such as operational performance, competitor performance, markets, and innovations from different external and internal sources.
  • Top skills for a strategy manager as per Ambition Box are strategic planning, project management, business strategy, corporate strategy, operations, business planning, data analysis, etc.

Salary of a strategy manager in India
In India, the average salary of a strategy manager happens to be 15-20 Lakhs PA. As per Glassdoor, it is ₹19,56,805 in India and PayScale mentions it as ₹152429 LPA. As per Ambition Box, the average salary of a strategy manager is ₹20.0 Lakhs.

Here, we like to mention that the starting salary for a strategy manager will be approximately ₹6.5 Lakhs every year in India. A strategy manager’s salary can range from ₹ 6.5 Lakhs to ₹ 45 Lakhs based on experience, expertise, and company. As per the ambition box, the highest paying job can fetch a salary of ₹45.0 Lakhs every year which comes to approximately ₹3.8 Lakhs every month.

Various responsibilities of a strategy manager
Strategic planning: A strategy manager is accountable for developing a decentralized activity planning procedure and making sure that it is adopted across the business. He evaluates the current status of a company and works for its overall future planning and development. He plays an important role in all sorts of planning for the company. He also sets up and reviews important strategic priorities by translating them into quantitative and actionable plans.

Besides strategy management, a strategy manager supports the strategic planning procedure for making sure that this process is focused, value-adding, and timely. He will also make certain that the strategic planning process focuses on the present business and tries to solve all kinds of issues. Economic breakdown, streamlining of funds, and their right allocation are all done and planned in a strategic manner by the strategic manager.

Risk management: Risk management involves assessing possible threats and reducing them by formulating proper plans. This procedure allows the business leaders to comprehend and manage expectations that aid in enhancing connections with customers, employees, and suppliers. Strategy managers are responsible for formulating and recommending possible scenarios for alleviating any potential threats and developing risk reports for business leadership and senior management.

Performance management: A strategy manager also manages and develops the KPI infrastructure of a business for facilitating assessment as well as reporting of performance against budgets and plans, plus strategic objectives. He is accountable for developing weekly, quarterly, or yearly performance reports for the leaders of the business while also facilitating performance reviews as well.

As per the latest customer behaviour, the manager also invents newer ways of company management, coaching strategy management employees as well as detecting and suggesting areas of improvement and focus. Take the help of a comprehensive strategic management programme for fulfilling your objective of becoming a strategy manager in the near future.

Collaboration: Strategy managers also execute their plans while collaborating with other departments. For instance, they might work with human resources, finance, and development teams. They might also interact with the HR team for hiring fresh employees, collaborate with the finance team for the purpose of budgeting, replacing, or retaining employees, and make service or product recommendations.

Coaching: A strategy manager can likewise take the role of a competent strategy coach for the department heads within the company to offer support to figure out individual department strategies. He likewise owns strategic plans while guaranteeing agreement with these strategies.

He is responsible for reviewing, managing, and evaluating present business strategies for providing advice to the leadership of the business and ensuring alignment with the overall strategy of the business. He helps the managers and departmental leaders to try and optimize the enhancement of essential value levers that will provide the business with a competitive advantage. Take advantage of strategic management courses in India provided by IIM Kozhikode for becoming a competent strategy manager.

Data analysis: It will be possible for strategy managers to verify what is working for them and what might be the opportunities for enhancement by evaluating the data outcomes of their plans. They likewise make use of analytics for benchmarking preliminary outcomes for measuring long-term marketing trends which will help them to make sensible resource and financial decisions. Take the help of IIM Kozhikode LEAP to make your dreams of becoming a strategy manager true.

Creative problem solving: A strategy manager is going to enable creativity and modify business growth by overcoming behavioural, political, and systematic obstacles. They will come across alternative solutions for existing issues by taking unique initiatives. Apart from this, they provide guidance on the required corrective actions while detecting gaps in the business as well. The primary role of a strategy manager will be to enable creativity and innovation for formulating fresh winning strategies. If you want to become a top-notch strategy manager, then make sure to go for strategic management courses provided by IIM Kozhikode.

Creating value: The creation of value for any company implies making sure that the revenues of that organization are always more than its expenses. Value creation happens to be the primary objective of any business entity. Strategy managers make sure that the strategies formulated by them will help the business to generate revenues and promote financial development.

strategic management programme for senior professionals will be providing you with the required guidance and training for becoming a reputable strategy manager while pursuing your career. Know about the learning outcomes of IIM Kozhikode LEAP for aspiring strategic managers and how it can equip you with relevant and new-age skills and talent.

Know More

Source links:
https://www.glassdoor.co.in/
https://www. payscale.com/
https://www.ambitionbox.com/

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