Strategic managers are excellent company problem solvers.
There are times when a company's management team reaches its limits.They might be stumped over expand the company operations and increase profit. In order to overcome obstacles, management sometimes hires consultants who are experts in resolving the problems with which management is struggling. One kind of management consultant is the strategic manager, who specializes in helping companies plan to meet specific objectives.
Function
Strategic managers try to determine the best ways to plan a given business based on the company's goals. The strategic manager’s job is to then determine the best way for the company to achieve those objectives. This includes the resources and manpower needed to meet company goals. The strategic manager must identify the company's needs and then construct a plan to meet these goals. The skills of employees must be assessed to determine which employees should be put in charge of carrying out specific goals. These managers also create a chain of communication that is intended to ensure that all employees can remain on the same page.
Conditions
Strategic managers must observe various aspects of a given company in order to determine where this company is going wrong. Most of the time, this means visiting the office of the company in order to observe how management typically tackles problems.
Skills
A strategic manager must be able to analyze the regular operations structure of a given company in order to be able to improve the company. Strategic managers must be flexible enough to react when the unpredictable happens in a company. Strategic managers must have effective communication skills, since they must be communicating ideas that are ideally new to their clients and must be thoroughly understood. Interpersonal skills are needed since clients should want to be able to communicate with these managers.
Outlook
The need for management analysts such as strategic managers is expected to grow by 24 percent between 2008 and 2018. Part of what drives the need for strategic managers is the growth of international markets that many companies wish to do business with. Companies might not be aware of cultural, legal and market differences in other countries and might need strategic managers to help them transition into conducting international business.
Earnings
The median earnings for management analysts in 2008 were $73,570, according to the Bureau of Labor Statistics. The highest 10 percent earned more than $133,850, while the lowest 10 percent earned less than $41,910.
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