A relatively new but increasingly important role is emerging: the chief strategy officer (CSO). From Starbucks to Siemens, many organizations now have a designated CSO.

A CSO can be defined as an executive responsible for assisting the CEO with identifying, communicating, executing and sustaining strategic initiatives — basically, what a portfolio manager does.

And I would argue that the next CSOs will come through the portfolio management ranks.

Strategy itself is about renewal, and renewal is achieved through transformation. Therefore, a key part of strategy is innovation. That’s not just technical or product innovation. It’s also managerial, organizational and process innovation implemented …read more