Encompassing a range of disciplines including planning and organisation, formulation of short and long term strategies, implementation, directing and controlling, strategic management is steadily being recognised as an important sub-discipline within management studies. Furthermore, companies and organisations, big and small, are hiring aggressively across strategy roles which have led to strong demand for intensive education as well as the necessary technical and professional know-how in both upcoming graduates and early to mid-career professionals. Here are some of the most popular career pathways that graduates in strategic management choose to go for.
This Blog Includes:
- Required Skills for Strategic Management
- Careers in Strategic Management
- Eligibility Criteria for Strategic Management
- Strategic Management Courses
- Top Universities for Strategic Management
- Employment Areas
- Top Recruiters
- Average Salary
Required Skills for Strategic Management
As a strategic management professional, there are a few key skills that are instrumental for gaining entry into a role as well as climbing the ladder into senior-level positions. Given below are some of them.
- Analytical Mindset
- Communication Skills
- Quantitative and Qualitative Analysis
- Teamwork Skills
- Coordination with other departments
- Planning skills
- Innovate and Experiment
- Quick Decision Making
- Deadline Management
- Flexible and Adjustable
Careers in Strategic Management
Explained below are some of the leading careers in the field of Strategic Management:
This is a quite concentrated job profile involving the overall planning and strategizing over the completion of a project. In large organisations which are also their primary employers, huge tasks are broken down into small projects to be performed by a small team of expert professionals so as to maintain the high character of work. As a project manager, you lead all the major aspects of planning, designing and modifying the successful completion of a project efficiently and effectively. Skills of managing multitasking, teamwork, communication are of utmost importance. Significant experience of working in the industry and/or MBA in Project Management is desired to land the role of a project manager.
A product strategist is also known as an Experience Lead and the work responsibilities are somewhat similar to that of a Product Manager. The main aim of such a professional is to maximise user engagement and experience, resolve all resulting problems related to it and most importantly, project the company’s ideas of the product immaculately. While it is quite flexible, typical tasks include collaborating with product design, development, content as well as marketing team on a regular basis, collecting and interpreting user feedback, coordinate with various stakeholders involved and much more.
Consumer Insights Analyst
Combining marketing, strategic management and business administration, a consumer insights analyst is an emerging career profile in recent years. In particular, he/she is in charge of curating consumer-related information, namely, opinions, product behaviour and experiences and its further analysis and interpretation in order to come up with workable insights as to the planning efforts of the company. This extends to current as well as future planning strategies. A master’s degree in strategic management or at least a strong quantitative background is recommended.
If you harbour an interest to work in public policy-making and implementation, the job of a policy strategist may appeal to you. Hired generally by governmental departments, NGOs, research organisations and other initiatives, a policy strategist works closely with the formulation, modification, implementation and strategic management of policies in concerned areas. The policies may range from development and welfare-based to environment or rights-based. They work alongside citizens, activists, politicians and bureaucrats to better resolve policy issues and gain insights on future policies.
Companies working in the finance sector require professionals with a stronghold over quantitative and statistical subjects as well as a sound understanding of financial analysis, strategic management and unflinching interest in markets and stocks. Typical responsibilities include analysing stocks related information, making forecasts, finding interesting investment opportunities and finally suggest recommendations to senior management, among others. Establishments you can expect to work in include, hedge funds, portfolio management companies, wealth management companies, investment bankers, insurance and risk management and much more.
This is a quite senior-level job which requires a significant number of experience of working in the industry. A management consultant is in charge of large scale projects along with catering to clients. Typical responsibilities include the development of long term strategies, plan for performance increment and tackling other challenges.
In addition to the above, there are countless other pathways in this field.
- Business Development Consultant
- Business Analyst
- Account Manager
- Strategic Initiatives Associate
- Research Analyst
- Public Policy Analyst
Eligibility Criteria for Strategic Management
- Bachelor’s degree in Management or related fields with minimum required marks
- A good score in GMAT or GRE
- Minimum required marks in IELTS/TOEFL
- SOP and LOR
Strategic Management Courses
- MSc Strategic Management
- Master in Strategic Business Development
- MSc Business Analysis and Strategic Management
- MSc Management: Strategy Pathway
- MSc Strategic Innovation Management
- Master of Science in Strategic Management and Marketing
- MSc in International Strategic Management
- MSc Strategic Management
- MSc Strategic Project Management
- MSc Strategic Management
- Master in Strategy and Organisation
Top Universities for Strategic Management
- HEC Paris
- University of Vaasa
- University of Manchester
- University of Birmingham
- University of Sussex
- University of Malta
- Lund University
- Tilburg University
- London School of Business and Finance
- Heriot-Watt University
- Pace University
- Vrije University Amsterdam
There are various industries that have a growing demand for professionals with an understanding of strategic management as well as the necessary flexibility to work in high-pressure environments. Some of the sectors and industries you can expect to work in have been mentioned below.
- Wealth Management
- Fund Management
- Pharmaceuticals and Healthcare
- Non-Governmental Organisations
- Education Services
- Scientific and Technical Organisations
- Oil and Mining Organisation
- Universal Collateral Management Pvt. Ltd.
- Efftronics Systems Pvt Ltd
- Reliance Industries
- ICICI Lombard
- IBM India
Your average salary while pursuing a career as a Strategic Manager would be around-
|Strategic PlanningManager||INR 13, 00,000|
|Strategy Manager||INR 19,00,000|
|Senior StrategyManager||INR 20,00,000|
|Corporate StrategyManager||INR 19,00,000|
If you are interested in pursuing strategic management as a career or any other advanced degree in the right direction, take the assistance of the experts at Leverage Edu. Signup for our free 30 minutes career counselling session so that you can make the right decision of course and university and take a step towards a fulfilling career.