A chief strategy officer (CSO) is an executive that usually reports to the CEO and has primary responsibility for strategy formulation and management, including developing the corporate vision and strategy, overseeing strategic planning, and leading strategic initiatives, including M&A, transformation, partnerships, and cost reduction. Some companies give the title of Chief Strategist or Chief Business Officer to its senior executives who are holding the top strategy role.
The need for a CSO position may be a result of CEOs having less time to devote to strategy and/or to CEOs with less experience with developing strategy (e.g., many start up CEOs) along with uncertain and increasingly complex global environments. All of these factors increase the need for professional strategy development.[1][2] As a result, the position can be seen in fast moving tech companies, as well in academic, and nonprofit organizations.[3][4] In recent years, the CSO position increased in popularity in highly professional companies with significant growth and scalability ambitions, which is reflected by the high number of US tech companies (nearly 50% of S&P 500 firms) who created CSO positions in their top management teams.[5] According to a 2013 IBM survey, 67% of CEOs named the CSO as a crucial role–second only to the CFO, and more recent examples and studies by major recruiting firms have shown that CSOs had the highest growth in C-Suite positions being directly elevated to the CEO position.[6][7]
^Breene, R. Timothy S.; Nunes, Paul; Shill, Walter E. (October 2007). "The Chief Strategy Officer, Harvard Business Review, Oct. 2007". Harvard Business Review. Archived from the original on 2014-08-19. Retrieved 2014-08-17.
^"The Chief Strategy Officer in the European Firm: Professionalising Strategy in Times of Uncertainty, The European Business Review, May-Jun. 2013". 9 May 2013. Archived from the original on 2015-02-11. Retrieved 2015-02-11.
^"Rise of the Chief Strategy Officer, Outlook Journal, Jan. 2008". Archived from the original on 2013-04-01. Retrieved 2013-04-02.
^"Charities Turn to Chief Strategy Officers To Help Plan Their Future, The Chronicle of Philanthropy, Oct. 2013". Archived from the original on 2014-11-20. Retrieved 2014-08-17.
^Menz, Markus (2013). "Chief strategy officers: Contingency analysis of their presence in top management teams". Strategic Management Journal. 35 (3): 461–471. doi:10.1002/smj.2104.
^"Route to the Top 2020". www.heidrick.com. Retrieved 2021-11-19.
^Shein, Esther (February 2, 2021). "CEOs are challenged to manage an "anywhere" workforce". TechRepublic. Retrieved 2021-11-28.
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