Career in Management: Why nurturing a strategic acumen is vital
Management is at the heart of all professions.
Irrespective of what field you are in, the higher you progress, the more it requires management and strategic thinking.
Understanding business strategy is important – whether you be an executor or an innovator; a dentist or an engineer; a padawan or a master.
Strategic thinking and management involve gaining an understanding of the internal and external working of an organization, evaluating their actions, implementing plans, setting objectives, analyzing competition, and more.
We take a look at the career in management, the skills and qualities required, and the roles these professionals play.
Who should pursue a career in management?
People from all professions can benefit from earning business certifications in strategic thinking and management. From finance and accounting to HR management and IT.
According to a LinkedIn report,
“the demand for people who can act as consultants is rising post COVID – for businesses of all sizes.”
Business strategists will be required to lead the way.
A career in management, by all parameters, is one of the highly coveted. This augur both good and bad news for its practitioners. The good news is that with the right skills and knowledge strategists will remain relevant for any situation and business, and the bad being the heavy competition that comes with the popularity.
3 Roles of Managers and Strategists
What do you do when plans don’t work, when things begin to go south when taking an action seems difficult?
Managers and strategists are the people organizations look up to.
They act as turnaround strategists when the business is stretched too thin.
They help organizations bear and beat the storm by restructuring plans, finances, operations, and maintaining active talks with stakeholders.
Business strategy isn’t only about making short- and long-term plans, but it’s also about stepping up and extemporize when the time comes.
Strategies used: Insolvency; Negotiations; Lateral thinking; Measuring financial health; Project Management; Financial remodeling; Restructuring; Relationship management
Managers and strategists keep the pulse of the industry.
They have the intel needed to keep operations up-to-date and latest. This aspect constitutes the most part of their jobs. New age strategists base this on both their personal knowledge as well as technology.
While their part as a turnaround strategist is usually triggered in a crisis, their role as an intelligence expert is routine.
This aspect of business strategy is what gives organizations a foundation to form opinions on important issues and keep their tools and technologies up to date.
Strategies used: Wide social network, data analytics, latest knowledge, maintaining an active brand voice
No part of the job of a manager or a strategist can be successfully completed without being good relationship builders.
From the topmost executives and board members to the lowermost cog in the hierarchy, strategists keep a pulse of their preferences and maintain good communication.
This is an internally focused role, in opposition to the externally focused intelligence aspect.
They keep open lines of communication with the upper management – to keep them in the loop of their plan of action and get them on board.
Without the ascent of top management, it is hardly possible for new ideas to fly. Managers and strategists are the ones who bridge the two.
Strategies used: Active connection with upper management, correct placement of lower-level managers and department heads, act as a whip for major plans
Qualities of Strategists
- Innovators as well as Fixers
- Good Communicators
- In-depth understanding of their domain
Business Certifications by The Strategy Institute
Teachers, Educators, Administrators, IT professionals, Data Scientists, Engineers, and others, all who wish to become planners for their organizations can highly benefit from business certifications. These are short in duration and are globally renowned, which will help them clear the entry-barriers and give a better understanding expected of a business specialist.
Planning in present is central to bringing a rewarding future. Strategists possess the tools and acumen to take strategies off the ground and implement them.
You need not necessarily spend four years in business school. One such platform to prepare yourself as a strategic manager is offered by The Strategy Institute.
It’s two rungs of certifications are the top picks of business graduates as well as senior professionals to rise as strategists. You can aim for:
- Associate Business Strategy Professional (ABSPTM) designation, or
- Senior Business Strategy Professional (SBSPTM) credential.
The examinations are 100% online – everything from registration to the conduct of the exam – and can be taken from your home or office.
Suitable for: Professionals across fields – IT, Finance, Healthcare, Insurance, Data Science, Education, Blockchain, and others.
Supplement your experience and education with industry certifications in business strategy to advance your career and improve hireability in management roles.