| 03-12-2014 03:25 PM |
| Unregistered |
Quote:
Originally Posted by Unregistered
There is no such thing as "overall strategy" of the company, that is a prevalent misconception of many junior level staff not familiar with how boardroom and exco dynamics work.
Any major project will involve multiple collaobration of departments & specialtise. For e.g. if you have a major M&A coming up, the project group will be chaired by the CEO and members will usually comprise representatives like CFO, COO, CHRO, CTO, Legal Counsel, major subsidiary/regional MDs and external side will have folks like investment bankers, management consultants, regulatory specialists and PR firms. There is also that complicated interaction of ideas between Exco, Board and Substantial Shareholders.
You don't have just 1 guy or a group of people doing "strategy planning" reporting directly to CEO and being the only guys involve in "planning" the strategy. It just wouldn't fly in any sizable company. What people usually refer to as company strategy is actually the convergence of various departmental strategies and the CEO/Board/Influential Shareholders' future vision interpreted and distilled as "strategy".
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You are right. For M&As the working team on the buy side usually comprises of people from different functional departments who are double hatting on their regular roles. Not sure about the team composition on the buy side if buyer is purely a financial institution like a PE/fund/bank though.
The trend nowadays in big companies is for enlightened CEOs to have a C-Level Head of Strategy with no or very few direct reports. This guy is usually a brilliant INSEAD grad who graduated top of his class and works very closely with the CEO. He is not a Dy CEO or COO but looks specifically in charting overall strategy of the company. It could be M&A, it could be cost cutting, downsizing, outsourcing, anything under the sun. Of course, the actual work gets executed by the operational functions.
These people are usually on the fast track and go on to head major acquisitions/ subsidiaries. I have come across such people in 2 large organizations so far.
For a young aspiring executive aspiring to get into "strategy", you are the peon doing the number crunching and leg work in the M&A team. The CEO will then then have to get the EXCO and board/shareholders' buy-in and approvals depending on internal limits of authority.
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| 03-12-2014 12:15 PM |
| Unregistered |
Quote:
Originally Posted by Unregistered
Strategy refers to overall management strategy of the company, not just a department. You usually report direct to the CEO and your work involves the long term strategy of the company. This means you are heavily involved in m&a, business planning, project finance and other major projects.
My advise to the aspiring TS, try to get into commercial management or business development (the real kind, not sales), the "revenue centers", or finance. It will be tough to get into strategy by doing operations or support roles.
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There is no such thing as "overall strategy" of the company, that is a prevalent misconception of many junior level staff not familiar with how boardroom and exco dynamics work.
Any major project will involve multiple collaobration of departments & specialtise. For e.g. if you have a major M&A coming up, the project group will be chaired by the CEO and members will usually comprise representatives like CFO, COO, CHRO, CTO, Legal Counsel, major subsidiary/regional MDs and external side will have folks like investment bankers, management consultants, regulatory specialists and PR firms. There is also that complicated interaction of ideas between Exco, Board and Substantial Shareholders.
You don't have just 1 guy or a group of people doing "strategy planning" reporting directly to CEO and being the only guys involve in "planning" the strategy. It just wouldn't fly in any sizable company. What people usually refer to as company strategy is actually the convergence of various departmental strategies and the CEO/Board/Influential Shareholders' future vision interpreted and distilled as "strategy".
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| 02-12-2014 07:21 PM |
| ss1 |
Quote:
Originally Posted by Brian
TS can you elaborate what you mean by business strategy? Which part of your current job as a sales support executive or your studies as an engineer is it that you don't like and think being in a strategic planning career path will be better for your interest?
I am asking because my gut sense is you are just throwing out big words without understanding what they mean.
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My intention for biz strategy will be more like biz operation planning.
For example, the company decided to expand their services to another field and need some studies and planning on that. The nearest applicable I found is management consulting, particularly on energy companies, as that can utilize my engineering knowledge.
Indeed, my understanding might be different from what the real situation is, that's why I am asking here and hoping all the expect willing to share some knowledge =)
Quote:
Originally Posted by Unregistered
Another just left school youngster who just started work already fantasizing of being the strategy guy. If you really have the potential, you would be in 1 of those big MNC as a Management Trainee or in ministry as an Administrative Officer, not languishing as some sales support staff in an equipment company.
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It is true that I am not really elite la..but I do hope I can work my way to it and I willing to try. I know reality is harsh, but at least gotta give it a try too, isn't? =)
Quote:
Originally Posted by Unregistered
Strategy refers to overall management strategy of the company, not just a department. You usually report direct to the CEO and your work involves the long term strategy of the company. This means you are heavily involved in m&a, business planning, project finance and other major projects.
My advise to the aspiring TS, try to get into commercial management or business development (the real kind, not sales), the "revenue centers", or finance. It will be tough to get into strategy by doing operations or support roles.
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I apologize for didn't state clearly my definition for 'strategy' is..
I am not crazy with all those CEO/COO level job and wanna decide a fate of company when I am just a fresh grad..
My focus will be more like what mentioned above, such as a new operations planning by the company..
The nearest job I found so far is management consulting for energy companies, or perhaps business development (though most of the become sales) , as what you mentioned.
I am just a newbie to this world, I might sounds stupid.
Appreciate much for all the guidance provided =)
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| 02-12-2014 05:43 PM |
| Unregistered |
Quote:
Originally Posted by Unregistered
there are many kinds of strategy & planning -sales, marketing, technology, manpower, supply chain, finance etc. nowadays many companies inflate titles to make the JD sound strategic for some jr associate job.
the more senior and close to the leadership in the company you are, the more involve in strategy you become. studying a mba w/o any experience is waste of money & time as it just get you another jr analyst job.
it takes at least 10 years even for a high flyer in a mnc to be involve in some sort of real strategy work, so spend more time building up your career and network than waste time studying a mba. without work exp, you will not understand what you learn anyway.
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Strategy refers to overall management strategy of the company, not just a department. You usually report direct to the CEO and your work involves the long term strategy of the company. This means you are heavily involved in m&a, business planning, project finance and other major projects.
My advise to the aspiring TS, try to get into commercial management or business development (the real kind, not sales), the "revenue centers", or finance. It will be tough to get into strategy by doing operations or support roles.
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| 02-12-2014 12:41 PM |
| Unregistered |
Another just left school youngster who just started work already fantasizing of being the strategy guy. If you really have the potential, you would be in 1 of those big MNC as a Management Trainee or in ministry as an Administrative Officer, not languishing as some sales support staff in an equipment company.
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| 30-11-2014 05:38 PM |
| Brian |
TS can you elaborate what you mean by business strategy? Which part of your current job as a sales support executive or your studies as an engineer is it that you don't like and think being in a strategic planning career path will be better for your interest?
I am asking because my gut sense is you are just throwing out big words without understanding what they mean.
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| 30-11-2014 09:52 AM |
| Unregistered |
Quote:
Originally Posted by ss1
Of course I have no high biz achievement as a fresh grad.
However back in my old days in uni I was quite active in organizing event and club activity, which requires planning, marketing strategy, budget planning, and I actually quite enjoy that.
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u should join a events management outsourcing company if that is ur interest.
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| 30-11-2014 06:42 AM |
| Unregistered |
Quote:
Originally Posted by ss1
Thanks for the advice. Indeed work experiences still matters.
I never expect to use MBA only to get in the role.
However I believe MBA might be useful when get in the role after several years of working experiences.
So, at least I wanna be clear on the career path and see if I am on the right track on building up my career and network.
Of course I have no high biz achievement as a fresh grad.
However back in my old days in uni I was quite active in organizing event and club activity, which requires planning, marketing strategy, budget planning, and I actually quite enjoy that.
Thanks!
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Uni planning, ccas, and excos are all ******** pls.
even a simple assistant treasurer can get inflated titles like "Assistant Financial Director"
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| 30-11-2014 12:24 AM |
| Unregistered |
Quote:
Originally Posted by ss1
Thanks for the advice. Indeed work experiences still matters.
I never expect to use MBA only to get in the role.
However I believe MBA might be useful when get in the role after several years of working experiences.
So, at least I wanna be clear on the career path and see if I am on the right track on building up my career and network.
Of course I have no high biz achievement as a fresh grad.
However back in my old days in uni I was quite active in organizing event and club activity, which requires planning, marketing strategy, budget planning, and I actually quite enjoy that.
Thanks!
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Very few MBAs are really useful in terms of professional development and network building, other than the usual international biz schools which are exorbitant, in terms of local unis I recommend only the eMBAs which require min 10 years credentials.
Think about it, if a course can accept any Tom Dick or Harry for MBA with a few years of junior experience, what are the kind of students you will get? Likely a whole bunch of youngsters without any leadership experience or oldies who have mediocre careers. Are these the kind of classmates to learn from or develop professional networks?
Also the fact that you can equate organizing a ECA activity in school to business strategy work shows that you have gross misconception of the whole idea of enterprise strategy planning in a global MNC. The school club stuff you are interested in doing is probably done by HR Execs or Marketing/Promotion co-ordinators in a MNC, nobody would equate that with business strategy work.
My advice is just spend the next 10 - 15 years gaining exp across companies and functions. If you are lucky, befriend a few global / regional directors in large MNCs and they can probably share with you what strategy is all about. Maybe after a while you will gain at least awareness of this whole thing. Trying to hone in on a hard answer on what is the career path to do "strategy work" when you just left school ain't gonna get you anywhere.
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| 29-11-2014 11:49 PM |
| ss1 |
Quote:
Originally Posted by Unregistered
Dude there are a lot of jobs that are just basic analysis and report writing that call themselves strategy this strategy that.
Unless you are referring to those BS titles, you can hardly expect to just go buy some MBA with hardly any work experience and except companies to hire you to advise them on strategy right after school...
Fresh grad just start work already thinking of wanting to be formulating strategy is usually a sign that either he knows nothing about what strategy means or has an usually high opinion of himself. If it's the latter, I hope you have some solid tangible business achievements to back that.
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Quote:
Originally Posted by Unregistered
there are many kinds of strategy & planning -sales, marketing, technology, manpower, supply chain, finance etc. nowadays many companies inflate titles to make the JD sound strategic for some jr associate job.
the more senior and close to the leadership in the company you are, the more involve in strategy you become. studying a mba w/o any experience is waste of money & time as it just get you another jr analyst job.
it takes at least 10 years even for a high flyer in a mnc to be involve in some sort of real strategy work, so spend more time building up your career and network than waste time studying a mba. without work exp, you will not understand what you learn anyway.
|
Thanks for the advice. Indeed work experiences still matters.
I never expect to use MBA only to get in the role.
However I believe MBA might be useful when get in the role after several years of working experiences.
So, at least I wanna be clear on the career path and see if I am on the right track on building up my career and network.
Of course I have no high biz achievement as a fresh grad.
However back in my old days in uni I was quite active in organizing event and club activity, which requires planning, marketing strategy, budget planning, and I actually quite enjoy that.
Thanks!
|
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