Before we can understand the duties of a “business strategist,” we need first to comprehend the concept of a business strategy. In the UAE and elsewhere, a business strategy is the act of identifying the goals, vision, and plans for an organization’s long-term success. It also encompasses the execution of said plans. The earlier part of a business strategy includes spotting threats and opportunities for the business based on an exhaustive analysis of organizational and market situations. It is based on this information that a strategy is crafted. Meanwhile, the latter part of a business strategy involves the implementation of the strategy. The devised business strategy itself typically upholds the company’s values and objectives, while aligning with the needs of its market.

Business strategy is widely understood to address a certain set of elements within an organization. These are distribution, intellectual property, technology, quality, and cost. Experts claim that all business strategies that business strategists create can be categorized as one of the above.

 A Business Strategist: Roles

And so, with some understanding of what a business strategy is, we can understand what a business strategist does. As the creator of business strategies, they conduct the necessary research for it, while also implementing it.

This may look like exploring the organization’s customer segmentation or analyzing things like competitive analysis and SWOT. Further, they must also communicate with all departments within the business. This allows them to form a comprehensive idea of what the company needs. Besides, it also enables business strategists to ensure appropriate implementation of the devised strategy and monitor it.

A business strategist goes by many titles today, ranging from Strategy analyst/consultant to Chief Strategy Officer (CSO). However, no matter the title, the duties of a business planner remain consistent in the UAE.

• Comprehensive Analysis

  Business strategists typically scour the market trends for the organization’s industry. Based on this, they decipher the best potential and direction for growth. This contributes greatly to the business strategy they craft.

• Weighting Organization Resources

  As they create the best business strategy, business strategists also evaluate the enterprise’s resources. It is not easy to guide an organization’s growth without a full understanding of its resources. This also helps them spot areas that need improvement and redirect resources efficiently for betterment.

• Seeking the Future

  A key role that business planners perform at a company is ushering in growth. They do this by merging a confluence of factors like market trends, customers, and company resources. They comb through the data and suggest the best course of action for the enterprise. This may come in the form of new ideas for products or services, as well as brand positioning or pricing.

• The Official Game Plan

  Once “business strategists” have gathered all the necessary information, they can craft their business strategy. They need to be mindful of the organization’s vision, mission, and goals as they build it.

• Communicator Extraordinare

  As the business strategist builds their plan, they typically communicate well with multiple departments in the business. This helps them gather the necessary internal data. Further, a good rapport with the teams helps them implement their strategy more effectively. It is a necessary skill, as they also need to be able to communicate with business leaders.

Why do Businesses Hire Business Strategists?

Now that the role of a business strategist has been revealed, let’s understand why a firm might hire one. Firstly, a talented business strategist has the power to reshape the future of an organization. Their business strategies influence the direction of its growth, giving it an edge over competitors. Secondly, the attention to detail and problem-solving skills trained professionals bring to the table are extraordinary. It truly serves to highlight the difference between a specialist and a layman. Lastly, they bring a breadth of experience to the task at hand, creating excellent business strategies from years of specialist experience.

How do I become a Business Strategist?

A good business strategist is like a corporate wizard. But just like in Harry Potter, all wizard have their Hogwarts. A business strategist, being a specialist, typically requires several qualifications. Most business strategists hold a bachelor’s degree in economics, business strategy, business management, or administration. Apart from that, they also tend to have a master’s in the same field, like an MBA (Find the top 28 Online MBA in Dubai). However, these qualifications are the bare minimum. Most business strategists gain success in their industry after several years of experience. The ideal experience stems from roles in project management, consulting, or business analysis. That aside, it is advisable for aspiring business strategists to spruce up their resumes with additional certifications and short courses.

Apart from the right credentials, a business strategist needs to hone their industry skills. The right mix is likely to include analytical expertise, strong social skills, and a creative, solution-driven mindset. Further, it should be noted that a good portfolio and industry contacts are invaluable to the average business strategist.

Overcoming Challenges

‘Business strategist’ is a stressful role. It’s not easy to soldier on in the face of uncertain industry environments. They make it more difficult to predict the outcomes of the strategies. Besides, not everyone is open to change. A business strategist might create a plan to discover that clients still cling to the old ways. Further, juggling multiple expectations and priorities for a single strategy is pretty stress-inducing work.

Thus, a specialty degree helps business strategists by providing loads of necessary data and information. This applies especially to the UAE, where the competitive job market demands skills on par with international standards. It also imparts much-needed skills and the confidence that only credentials can bring. At Lincoln University of Business & Management, we believe that qualifications help recipients with more than a good career. We believe that it builds confidence and provides access to the necessary mentorship and networking. If your future career includes being a business strategist, connect with our counselors today. Build your future from your home with our 100% digital degrees.