The need for a CSO position may be a result of CEOs having less time to devote to strategy along with uncertain and increasingly complex global environments.
[3][4] In recent years, the CSO position increased in popularity in highly professional companies with significant growth and scalability ambitions, which is reflected by the high number of US tech companies (nearly 50% of S&P 500 firms) who created CSO positions in their top management teams.
[8] This unique background takes a multitude of different operating experiences, and must include being both a creative thinker and influential collaborator.
The Chief Strategy Officer oversees the company's M&A agenda, strategic partnerships, joint ventures, and divestitures.
The business development role can also encompass licensing deals and venture capital investments that support the strategic agenda.