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Who is most responsible for all aspects of strategic management?
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The person most responsible for all aspects of strategic management is typically the Chief Executive Officer (CEO) or the top-level executive of an organization.
The CEO is accountable for:
- Formulating strategy: Defining the mission, vision, and strategic goals of the organization.
- Implementing strategy: Ensuring that the strategy is effectively translated into action throughout the organization.
- Evaluating and controlling strategy: Monitoring performance, identifying deviations from the strategic plan, and taking corrective action.
While the CEO holds the ultimate responsibility, strategic management is often a collaborative effort involving other key members of the executive team, such as:
- Chief Operating Officer (COO)
- Chief Financial Officer (CFO)
- Other senior vice presidents or directors
Additionally, the board of directors plays a crucial role in overseeing and approving the organization's strategy.
Ultimately, the CEO is the person most responsible for the success or failure of the organization's strategic management efforts.
Source: IMD Business School