What Do Strategic Managers Really Do?! (CEOs & Senior Managers)

Most people think that Strategic Management consists of strategy formulation and implementation, and continuous strategy evaluation. In terms of strategy formulation and implementation, the manager scans the environment and then comes up with some Uber plan in which their organization runs. In terms of strategy evaluation, people believe that managers are constantly assessing their strategy and how well it works relative to some performance goals.
This of course is true in the macro sense, but there is a lot more going on behind the scenes in the vast majority of strategic managers time is not spent doing these activities. Most strategic managers spend their time in meetings, dealing with exceptions, or communicating their ideas.
They also have many other competing goals that they're dealing with, such as their own personal goals and motivations. Strategic managers want to make sure that their family is fed, just like everyone else.
They also have to deal with the tremendous amount of environmental uncertainties, and they do not know how to deal with those issues as well. Much of a strategic manager’s time is spent problem solving and avoiding uncertainty.
Strategic managers are also thinking more about the immediate goals and how to accomplish these immediate goals rather than a specific larger strategy. Strategic managers might use the overall strategy to judge the performance and fit of an immediate project, but this is often done within the mental maps of managers.
Check out:
Types Of Business Growth Strategies - Strategy Saturdays
• Types Of Business Grow...
Example Of A Learning Curve & Steep Learning Curve Meaning - Strategy Saturdays
• Example Of A Learning ...
How To Increase Switching Costs? - Strategy Saturdays
• How To Increase Switch...
How To Forecast Revenue For A New Product
• Technology Forecasting...
New Product Development Strategy: The Importance Of Users - Strategy Saturdays
• New Product Developmen...
What Are Transaction Costs And Why Are They Important To Business? Strategy Saturdays
• What Are Transaction C...
Advantages And Disadvantages Of Strategic Planning In Business - Strategy Saturdays
• Advantages And Disadva...
What Every Business Needs To Be Successful. And, Most People Won’t Do This - Strategy Saturdays
• What Every Business Ne...
Anchoring And Adjustment Heuristic Example In Income Tax Returns - Strategy Saturdays
• Anchoring And Adjustme...
What Is Corporate Level Strategy And Why Is It Important? - Strategy Saturday
• What Is Corporate Leve...
What Is A Competitive Advantage?: Steve Jobs, Apple, and Nondecomposable Design - Strategy Saturday
• What Is A Competitive ...
What Is The Role Of Luck In Success And Good Fortune In Business? - Strategy Saturday
• What Is The Role Of Lu...
Centralized Vs Decentralized Organizations: Problem Solving & Decision-Making - Strategy Saturday
• Centralized Vs Decentr...
How To Create Your Own Performance Management System
• How To Create Your Own...
David Maslach is a research professor of entrepreneurship, innovation, and business strategy, I discuss topics, such as behavioral science, strategy, innovation, and entrepreneurship, and apply these to my new peer proofreading and editing platform. Topics include the sharing economy, altruism, investing in technology, starting a business, and bounded rationality. My favorite videos pertain to incentives, goal setting, and learning from failure to drive behaviors such as weight loss, stopping telemarketers, creating novel technologies, and creating new movements.
r3ciprocity.com: Peer proofreading and editing platform
A new platform where you can earn credits by editing other people's documents. Use these credits to have your own work edited. If you do a good enough job, you can convert these credits to money.
The goal of the platform is to get people to 'pay it forward' and help other people out by creating incentives for people to give back.
Check out www.r3ciprocity.com
Please subscribe to the RUclips channel:
/ @r3ciprocityteam

[@dannidubig]

this content is gold! Thank you so much! :)

[@tlokz850]

Thank you very much for the clarity 😀 keep up the excellent work.
I'm from South Africa can you please make a video on what to do after completing an MBA in Healthcare Management.
The questions are focused on Management career in healthcare for example becoming a CEO or Director of Nursing.
Is it ok to only have an MBA in Healthcare Management in order to have a competitive advantage when applying for a managerial job or can you add more qualifications? For example, doing short courses in quality assurance and executive leadership or doing another masters degree?

[@rainbowedcoffee2277]

hello Sir, as a strategic manager how can you mobilize the firm's competencies and deliver the desire profit objective of the firm for its various stockholders and satisfy the customers of the firm?