Related Expertise: Strategic Planning, Business Strategy, Corporate Strategy
In our work with chief strategy officers (CSOs), four questions invariably arise: What are the typical CSO responsibilities? Why are some CSOs more effective than others? How should CSOs work with line executives? And, finally, what role should the strategy department play in developing future leaders within the business? We’ve observed that roles and responsibilities vary among companies and industries, but to better quantify the differences—and to definitively answer these questions—we embarked on a series of in-depth interviews with 48 CSOs of companies from around the world, in a wide range of industries: consumer products, industrial goods, financial services, energy, technology, media, and telecommunications. Just over half of the CSOs we interviewed report to the CEO, although this is less likely to be the case at larger companies and in the financial sector.
Our interviews explored CSO responsibilities, team composition and size, how CSOs work with other parts of the business, and other key success factors.
Authors
ABOUT BOSTON CONSULTING GROUP
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.
Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.
© Boston Consulting Group 2024. All rights reserved.
For information or permission to reprint, please contact BCG at permissions@bcg.com. To find the latest BCG content and register to receive e-alerts on this topic or others, please visit bcg.com. Follow Boston Consulting Group on Facebook and X (formerly Twitter).