While you may still try to adhere to that strategy as much as possible, with so many moving parts, it can be difficult for every action and piece of your business to fall in line with that strategy 100% of the time, especially when there is no one in charge of ensuring that you stick to that strategy.

Some people see this as the CEO’s responsibility. As the leader of the company, it is his or her job to make sure that the business is following the strategy that was originally outlined, right? A CEO usually has many other responsibilities or may not even see this as his or her responsibility. This can mean that the strategy, the goals that you believed would bring you success and even the metrics used to measure how well you were achieving those goals can fall by the wayside.

This is where a chief strategy officer comes in. As this Harvard Business Review article discusses, the role of the chief strategy officer is to identify tasks, actions, processes, anything that isn’t in line with the company’s strategy and to create a plan for rectifying this process. In some instances, his job might even be to adjust the strategy so that it better reflects the goals of the company. To some, this might sound like nit-picking, but in reality, the purpose of a chief strategy officer is to create value. They build the framework, as this article states, for the entire company, giving it direction and focus.

Benefits of a Chief Strategy Officer

How does a CSO create value? And how is their job different from the role that a CEO plays? These are important questions for anyone looking to incorporate a CSO into their company or for one looking to outsource the tasks to a strategist that specializes in developing and streamlining strategies. Here are some of the ways that a CSO creates value:

Brings little pieces together to form the big picture. A chief strategy officer does a lot of big picture and detail work. Those small details make up the big picture, so deeply understanding them is just as important as being able to see the big picture. Knowing how everything is supposed to fit together, and to see what changes need to be made on both the small and large scales to make everything fit together (or, fit into the business or marketing strategy) is essential to the success of any business.

Is responsible for adapting the business to the strategy or the strategy for the changing business. This is a task that most everyone else involved in the business will be too busy with other tasks to do. At some point, like the HBR article states, someone needs to walk into each department’s office and say, “What we’re doing isn’t working. We need to get back in line with our strategy.” While everyone might have the strategy in the back of their minds, the CSO brings it to the front and makes it the centerpiece of each department’s tasks and processes. Because the strategy is developed to ensure success, any task, process or change made in the company should fall in line—and the CSO makes sure it does.

Improves the bottom line. With profit margins thinner than ever, it’s vital to have someone on staff whose whole goal is to provide for and ensure the success of the business. When you are a company just struggling to keep productivity high or even the lights on, you need someone who can take a look at the day-to-day and the overall strategy and tell you what isn’t working, what is not in-line with the strategy and what needs to be improved to get you back to that strategy. Chances are, if a once-successful company is now in trouble, it has somehow been derailed from their strategy. The CSO keeps that from happening or gets you back on track

A chief strategy officer makes it possible to not only generate strategies that ensure success, but also to stay true to those strategies. No matter how well they are equipped to manage their company, CEO’s may not create a strong enough strategy that passes market tests to really succeed on the global stage. CEO’s are very busy and most of the time, require a strategist as a partner to assist in the strategy process. The diversified role of the CSO is challenging and requires someone who understands not only the market, but your business on a deep level, and a great CSO will help you funnel your company’s time and resources towards the most profitable endeavors.