Quantic’s Weekly Roundup

Quantic’s Weekly Roundup is a satisfying mix of the latest breaking news, business, STEM and social science stories. Here are your headlines for this week: 

Mars is partnering with Acquia to create a digital spooktacular Halloween. Mars wanted to digitize the physical experience of Halloween trick-or-treating, but make it more engaging than a website. To build on that idea, the company held a one-week hackathon. Treat Town was created, which is a platform that can be experienced on the free app or through a browser. Candy-givers and trick-or-treaters sign up and create profiles. Candy-givers can design and decorate their virtual door, purchase candy credits from Mars, and decide whether anyone on Treat Town can visit their door (or friends and family only). People can even set different levels of rewards for friends and family and even donate to charities

Samasource, a training data and validation company based in San Francisco, believes AI technology can enhance human-centered work instead of threaten it. Artificial intelligence is an emerging force in the business world that has the potential to either replace humans in certain industries or empower humans with better tools, depending on how the technology is utilized. The company’s philosophy is to use artificial intelligence to empower the human workforce. AI will simply remove more mundane tasks, so that humans can focus on tasks that require higher cognition and focus on higher value areas of work.

The company, PORTL Hologram, has raised $3M to put a hologram machine in every home. PORTL’s projector can transmit images any time of the day or night with its “studio-in-a-box.” Anyone with $60,000 to spend and a white background can beam themselves into any portal, anywhere in the world. The company plans to create miniature versions that will be the size of a desktop computer and will be bundled with entertainment systems like Peloton and Mirror. 

Need something to read this weekend? Sports writer, Jon Bois, used his platform on SB Nation to write his latest multimedia story: 20020: What is the Future of College Football. This is the sequel to his 25-part fiction story about the future of America where football games last for thousands of years and span the continent. The digital science fiction piece explores what would happen if humans lived in a utopian meditation with endless time…and sports! 

Quantic’s Weekly Roundup

Quantic’s Weekly Roundup is a satisfying mix of the latest breaking news, business, STEM and social science stories. Here are your headlines for this week: 

Robo-doping: The use of performance-enhancing algorithms to gain a competitive advantage in esports competition. Esports is a fast-growing field, and that has only accelerated in the midst of COVID-19. In digital competitions, there are no guidelines or rules against the use of simulation programs to enhance performance. Some factors that conspire to enable robo-doping include fast internet speeds, cloud-based platforms, and automation systems. These same factors can also manipulate technology we use in our day-to-day lives. 

Farming tech is getting a NASA-inspired upgrade. In increasingly tight, urban homes, we don’t all have room for gardens. The Rotofarm, by an Australian company called Bace, is a space-friendly hydroponic system, and it doubles as a beautiful sculpture in your home. With a circular design, which rotates plants like a Ferris wheel through the day, the Rotofarm is able to fit nearly five feet of growing area inside a countertop footprint of just 11 inches. 

The pandemic made almost 60% of consumers consider postponing high-value purchases. This lack of clear direction from consumers has put the next decade of growth and market share up for grabs. Some experts are saying the next era must be driven by true creativity and managed risk-taking, which is often inspired by customer obsession, but not defined by it. Expose your teams to new technology, new art, and new foods, and build a sustainable innovation capability to transform this inspiration into valuable new ideas.

Singapore-based smart electric motorbike startup, Ion Mobility, has raised $3.3 million in funding to launch its products across Southeast Asia, starting with Indonesia. Founded just last year, Ion Mobility aims to create more sustainable and affordable mobility alternatives for Southeast Asia’s large population of motorbike users. According to a Statista report, Indonesia alone had roughly 115 million motorcycles in use in 2018, which was about half of its total population that year. 

Finance vs. Accounting: Key Differences to Help Choose Your Next Field With Confidence

We have addressed some of the biggest and most common concerns that many people have when trying to compare accounting and finance. From varying skill sets, different salary expectations, and more, we’ll walk you through the ins and outs of both career paths. 

This is the ultimate guide to study before you make a commitment either way. You should have a thorough understanding of each career choice before you choose a path. This just could be one of the biggest decisions of your life. 

So why not let us take you through both disciplines and help you choose between them? 

Finance vs. Accounting by Definition

They may seem identical but the definitions of accounting and finance are quite different. Let’s take a look. 

Accounting: Accounting is the practice of measuring, preparing, analyzing, and interpreting financial statements. This information helps measure the performance of a business and its financial position. 

The data is also important for the payment of taxes. Accountants use balance sheets, cash flow statements, and ledgers to track daily operations. They focus mainly on the past performance of businesses and individuals. 

Specializations in accounting include:

  • Financial accounting: This is the use of balance sheets, income, and cash flow statements to provide information. This data is used by stakeholders such as investors, tax authorities, and creditors. 
  • Managerial accounting: Managerial accountants use the same information as financial accountants. Internal staff then use the information to make decisions about business operations. 
  • Cost accounting: This involves studying balance sheets and income and cash flow statements to find ways of minimizing the cost of production. 

Finance: Finance deals with investments and the management of assets. A financier will focus on decisions about working capital for businesses and individuals. 

They deal with inventory, credit levels, cash holdings, and financial strategy. Finance will usually focus on the future performance of a business or individual. 

Finance can be divided into three sub-categories:

  • Personal Finance: This includes long-term financial planning for individuals. Some of these include retirement and the purchase of financial products such as mortgages. 
  • Corporate Finance: This involves the financial activities of the running of a business. These activities can include investment strategy and budgeting. 
  • Government Finance: Public finance examines tax and government policies. The information studied will affect how resources are allocated. 

By looking at the different definitions, and a summary of the skill sets, you can see which career path best suits you. You can align your skills, financial needs, ability to travel, and career aspirations with the correct job. 

Finance vs. Accounting Salary

Salaries in both professions will depend on the experience of the individual as well as the industry for which they work. 

Entry-level accountants earn an average of $40,777 and the topmost level accountants can make up to $83,800

In New York, some accountants can earn more than $60.000. The region with the lowest accounting salary is in North Carolina with an average of $44,281

According to the Bureau of Labor Statistics, the nationwide average for an accountant’s salary is $71,550. 

The truth is – depending on the type of career you choose, these numbers can have a wide range. 

BLS states that accountants in insurance and finance firms earn the highest salary at $74,690. 

It’s important to note that auditing clerks earn the least and with negative job prospects, it’s a career that’s on the decline. 

Technological improvements have automated some of the roles, hence the decline in open opportunities. This could also affect the accounting industry to a lesser degree. 

People who have specialized in finance can earn a lot of money as they move up the ladder. 

Median Annual Salary (USD)Number of Jobs in ’18Job Outlook ’08 – ’28Employment Change ’18 – ’28
Auditing Clerks$41,2301,707,700-4%-65,800
Accountant$71,5501,424,0006%90,700
Financial Analysts$85,660329,5006%20,300
Personal Financial Advisors$87,850271,7007%19,100
Financial Managers$129,890653,60016%104,700

Similarly, there are different levels of financiers, all earning varying salaries. 

If compensation is a big factor when considering a profession, becoming a financial manager is your best option. Actuaries are some of the highest-paid financial workers, earning from $150,000-$250,000. 

The Different Finance vs. Accounting Job Roles

Accountants need to be extremely precise as they often deal with large amounts of money. Even the slightest error can result in a business or client losing money. The role requires attention to detail and a high level of organization. 

Accountants often work alone so this role is perfect for introverts who will mainly create written reports for senior management. 

Financiers on the other hand need excellent communication skills and must be able to interact extensively with senior executives. The job requires presentation and interpersonal skills as they present reports to an audience. 

This is ideal for extroverts who are confident and able to handle high-pressure situations. 

Your interests, education, and skill sets may influence how you view the different roles required by accountants and financiers. Take a look at our list of job roles below. 

Financial Officer Job Roles:

  • Analyze and interpret financial reports to advise managerial teams 
  • Raise capital through debt or equity
  • Create and put in place a corporate strategy
  • Budgeting and forecasting (monthly, quarterly, annually)
  • Handle mergers and acquisitions
  • Risk management
  • Evaluate and advise on investments 
  • Implement cost-reducing solutions

Accountant Job Roles:

  • Collect, organize, and track financial information 
  • Prepare financial reports that meet government and stakeholder requirements
  • Prepare financial reports for internal use by staff
  • Conduct audits to ensure legality and adherence to policies
  • Prepare tax returns and report income to the IRS
  • Advise clients and firms on how to minimize tax liability

Accounting vs. Finance Personality Types

Not everyone can be an accountant or a financier. There are personality traits that will make some people more apt to perform well in each career. 

We’ve taken a look at one of the most popular personality tests used by organizations across the world. It helps employers decide if a potential employee is fit for the role. This sort of personality testing can help you determine which profession you are more likely to enjoy or excel in. 

The Myers-Briggs Type Indicator shows how people use their perceptions and judgment. The MBTI instrument measures preferences, not ability or character. 

Used by Fortune 500 firms the MBTI personality test is helpful before placing an individual in any specialized role. 

The personality type ISTJ (Introversion, Sensing, Thinking, Judging) is, well-suited for accounting positions. These people are systematic, analytical, and have a high work ethic. 

Known as ‘The Inspector’, they are traditionally serious and loyal. Leaning towards facts, they perform accounting jobs efficiently. Accuracy is key when they have to look through many documents and information. 

Financiers are shown to be INTP personality types. This stands for introversion, intuition, thinking, and perceiving. 

Let’s take a closer look at some of the different personality traits which accountants have vs. financiers. 

Accountant:

  • Detail-oriented 
  • Risk manager 
  • Procedure-oriented 
  • Able to use rule-based thinking 
  • Accountable 
  • Accurate 

Financier:

  • Attentive to detail 
  • Can conceptualize scenarios 
  • Analytical 
  • Inquisitive 
  • Business development skills 
  • Problem-solving skills 

Before diving in, why not take the MBTI test to better understand your personality. Free versions are also available online although they are not the original test. 

You can also check at your school’s career center or your work’s HR department if they offer the test. 

The results may surprise you and they will be key in avoiding a career incompatible with your personality. It will show you your strengths and weaknesses and guide you into a job that suits you specifically. 

Financial Analyst vs. Accountant

After taking the test, you should have some direction as to which job you would like to pursue. Though similar, these two professionals perform very different jobs

Let’s take a brief look at the major differences in daily duties and work environments. 

Financial analysts have a broader job description and their roles are less fixed. They deal with the management of assets and liabilities. This enables them to make future predictions and advise management. They develop investment strategies and are in charge of how to make use of company resources. 

Some financial analysts’ duties include: 

  • Analyzing stock fluctuations. 
  • Creating simulations to forecast the outcomes of financial transactions. 
  • Reviewing spending and revenue projections. 
  • Liaising with management teams to offer advice on financial decisions. 

Accountants have a more structured role and are heavily involved in taxes. They deal with the day-to-day flow of money in and out of a business. 

Some duties performed by accountants include:

  • Organizing company accounts. 
  • Reviewing records to reduce spending and increase profits. 
  • Developing and managing working budgets. 
  • Preparing taxation procedures. 

Generally, both types of employees work 40-50 hours per week. Accountants have a busy February to April tax season where they may work up to 70 hours a week, depending on the number of clients they work with. 

The work environment also differs as financial analysts often have their own offices. Many accountants, especially at entry-level, work in cubicles, although many high-level accountants will likely have the luxury of their own office. 

Can I Combine Finance and Accounting?

The careers are somewhat related, and some employees may perform some of the same tasks. 

The topmost position of either of these professions is that of Chief Financial Officer. It is essentially a combination of finance and accounting in one position. 

With the right experience and educational background, you could have the opportunity to manage a business’s finance or accounts departments. 

CFOs are tasked with the financial planning of a business. They also need to oversee the organization’s cash flow. 

To get to this leadership position, you will need to understand both job roles. You will need to supervise employees and perform tasks required in each profession. CFOs need a combination of skills including:

  • Leadership skills 
  • Management skills 
  • Accounting skills 
  • Data skills 
  • Strategy skills 

Besides a Bachelor’s degree, to reach this management position, often you will need a Master’s Degree. An Executive MBA is a good option if you already have some work experience. 

The Difference Between Finance and Accounting Degrees

Both jobs need a basic Bachelor’s degree but further education courses differ. For financiers, it is advisable to be a member of the CFA Institute. Accountants, however, are usually required to complete a CPA certification. 

See the details below:

So which degree is best? Everything is relative and will depend on your strengths. 

Generally, accounting majors at the undergraduate level are not easy. Students say finance on the same level is much easier. 

If you are starting your undergraduate level, it may be advisable to take a joint degree. It will provide you with general knowledge of both professions and help you choose the best path. 

Accounting does not increase in difficulty at higher levels. But finance does, gradually. 

Benefits of Studying Accounting

Accountants are necessary for all businesses and the profession is currently growing. According to the BLS, accountancy is expected to grow up to 10% between 2016 – 2026. 

Having the right information can help you choose which industry you want to work in. This is a way for you to begin to define a clear career path. 

Usually, after graduation, you may start as an entry-level associate with high growth and earning potential. 

Additional certifications will help you advance your career and get a job almost anywhere in the country. 

Another option is to start your own business. If you have an entrepreneurial streak, you can become your own boss after a few years of work experience. 

If you enjoy systematically working with rules accounting is the course you should study. 

Benefits of Studying Finance

Finance offers a wider range of study options compared to accounting. You will cover a variety of specializations used in the business world. You will also be exposed to areas such as economics and banking. 

By studying finance, you will gain the necessary analytical skills to interpret data. 

The knowledge will also be useful in your personal life. You will learn how to make smart investments and handle your finances effectively. 

The career opportunities for graduates are immense and the earning potential is higher than many other careers. You will also learn how to make extra wealth and not just rely on your salary. 

The Best of Both Worlds?

Advice online seems to lean towards studying both degrees. 

Source: quora.com

So now, what is the best way to advance your career? An MBA or EMBA degree is common for both accountants and financiers. It will give you the extra edge over and above your basic degree. 

For this with some years of experience, an Executive MBA will allow mid-career professionals to work and study at the same time. 

If you do not have extensive experience, a free online MBA is your best option. By choosing students from the world’s top universities, Quantic School of Business and Technology gives you a chance to network with fellow students either face to face or online. 

Student Spotlight: Innovation to Bridge the Gap for Deaf and Hard-of-Hearing

MBA Student, Eva Michalkova, has obtained an Ivy League diploma, worked for a former US President, has been a contestant in multiple beauty pageants, and has been a world traveler since the age of six. But what is her life’s mission? Eva’s goal is to empower, lead and support the independence and integration of deaf and hard-of-hearing individuals into the hearing-dominant world. 

When Eva was two years old, she was taken to an audiologist for examination because she did not respond to sounds. The results confirmed her hearing impairment – 99% hearing loss in both ears. Her mom became her rock and inspiration for Eva’s innovative career path. “My mom has been a huge inspiration of mine since I was a small kid,” says Eva. “When my hearing impairment was discovered, she did not give in, and she devoted all her time and effort to my personal development and spoken language acquisition. My mom is a truly capable woman who worked hard in silence to bring out the best in me. She was a leader who has shown incredible resilience during the most challenging times, and her determination over so many years has inspired me to be a resilient, responsible, reliable, and hard-working person.”

A few years ago, a visit to her audiologist led her on a path that would inspire her next career move: “I was handed a pair of the most advanced hearing aids, wired to a computer. They were so small — if they fell out you could accidentally swallow them  and not even notice. Increasing music volume, turning on ‘zen mode,’ setting up a restaurant mode, or pairing them with my iPhone —  I became a superwoman. I left the office so excited; I was blessed to have had my ears upgraded. But I also realized that not all people with hearing impairment are fortunate to communicate with their physicians so seamlessly and have the same advantages as I did. Therefore, my fiance and I signed up for two hackathons to address this obstacle and create a solution. That’s when the No F-ears mobile app prototype was founded.” 

The app was instantly popular and cleverly named to convey the idea, “No ears, no fears.” Its main goal was to dramatically improve the most important aspects of the deaf-hearing community experience, including booking appointments and doctor visits. A live chat tool facilitates a real-time conversation between a hearing doctor and deaf patient, simultaneously translating text into spoken words and vice versa. Since its launch, it has won multiple awards, including two international startup prizes: the 2018 Social Innovation Weekend Hackathon Award and the 2019 Social Impact Award in the Czech Republic.

The hackathon weekends proved to be a pivotal time in Eva’s career. “Both events provided us with a unique opportunity to meet new people and broaden our horizons. Executing an idea requires dedication, persistence, money, and time — not just a marketing budget. To solve the problem you have to know it from top to bottom. Innovators usually rise to the top as a result of substantial life-long expertise in their field, not from problem-solving in a vacuum.” Eva realized the problem was much more significant than just the communication barrier. Her vision could go far beyond a single app, so she created MIRAIO

MIRAIO is the world’s first go-to platform for all people with any hearing loss, at any stage of their lives. Unlike traditional organizations in this industry that communicate with their customers mainly through newsletters and blogs, MIRAIO connects with its audience through social media support with closed captions. The platform guides the viewer through real-life scenarios to ensure a successful integration into a hearing world. 

The global company has become even more popular during the recent pandemic. “COVID-19 and its stay-at-home measures have sparked a massive change in how deaf and hard-of-hearing people access information and healthcare,” says Eva. “The existing institutions’ traditional processes don’t focus on younger customers’ needs, use twenty-first technology, social media, or other modern tools and technology. We are the leaders, the advocates who speak up, and help both the hearing and deaf world move forward. We challenge the deeply-rooted status quo of the deaf society and its identity, and change the narrative of how people with hearing impairment are perceived in the hearing world” 

With the creation of MIRAIO, Eva was inspired to pursue her MBA with Quantic to continue to expand her platform and inspire others to become advocates for her cause. She knew she would need a flexible program to optimally fit into her busy schedule. “To succeed in the fast-paced business world, I aspired to obtain the business skills I needed to accelerate my career. I was looking for a solution that would be flexible with my schedule so I didn’t have to choose between my job and education — with Quantic, I could do both!” 

Eva’s goal is to have the global community eventually reach a point where deaf individuals can seamlessly interact with the hearing world and be independent, with no need for sign-interpreters. “The first and most essential step is to acknowledge the importance of inclusion and awareness of the deaf and hard-of-hearing community. Equity, inclusion, diversity —  when “hearing peers” use these terms, there is often a lack of understanding in regards to what it means to be truly inclusive of the deaf community. There needs to be profound and consistent efforts to make our voices heard, so that we can enact real change in this world.”

What is a Chief Strategy Officer? Outlook, Education, Career Path 🚀

So, you want to become a chief strategy officer? You’ll be among an up-and-coming group of professionals representing a shift in the way corporations are thinking about business strategy. This broad, dynamic, and well-paid position will have you handling some of the highest-level tasks in the company.

As the business world gets faster and more complex thanks to technology, many CEOs don’t have time to stay on top of it all. Yet, strategy is more important than ever. As the CSO, you’ll oversee the company’s strategic initiatives. You’ll enjoy a lot power and responsibility, so we’ve created the ultimate guide on how to become a competent, qualified CSO. 

You’ll discover things like:

  • What responsibilities you can expect
  • The education and skills you’ll need
  • How the CSO differs from other C-suite roles

By the time you’re through, you’ll have a solid understanding of this unique role and will know exactly what to expect as you embark on the path to becoming one. Let’s dive in!

What is a Chief Strategy Officer (CSO)?

The CSO, or chief strategist, is the executive who oversees the development, communication of, and execution of a corporation’s strategic initiatives. In other words, you’ll work with your CEO to create an overall corporate strategy that produces long-term, sustainable success for your company. 

Corporate strategy used to be the primary responsibility of the CEO. However, most CEOs already have their hands full with being ultimately responsible for everything that happens in the business. Likewise, the business landscape has become more complex with the rise of new organizational structures, increased regulations, and rapid globalization. These have put a strain on companies’ ability to innovate and made strategy even more important. Yet, CEOs have less time to devote to it than ever before.

As a CSO, your job will be to support the CEO’s creation of an overall corporate strategy. Let’s look a little more closely at what that looks like.

What Does a Chief Strategist Do? Key Responsibilities

What does a CSO look like in action? It’s this: 

It’s Monday, and you’re sitting in a meeting with the CEO plus other executives discussing a new line of products the CEO wants to launch. Your CEO believes that this will help position the company to tap into a new market. However, as you’re reviewing the plans, you notice something: your CEO doesn’t seem to be aware of a competitor who tried this exact strategy just a few months ago. It failed miserably. You speak up and throw out a few alternative ideas for your CEO to consider.

That’s just one snapshot of what a chief strategist does, but it encompasses many of the key responsibilities of a CSO. Those include:

  • Providing insights and advice on the CEO’s strategy
  • Identifying market conditions and determining their impact on strategy
  • Overseeing the execution of any strategic plans
  • Driving decision-making that leads to sustainable growth
  • Facilitating the development of key strategic initiatives
  • Supporting inclusive planning processes and communication between teams, other executives, and stakeholders
  • Tackling various high-impact initiatives that may change the course of the company

Who Reports to a Chief Strategy Officer?

According to Deloitte, a CSO may be described as: “responsible for nothing and accountable for everything.” In other words, unlike a CFO or a CTO, you won’t necessarily have a defined domain within the organization. Rather, if an initiative surfaces that will impact the company’s position in the future, you’ll have a role in it.

That means you’ll need to get ready to form relationships with the leadership of the organization. On any given project, you may find yourself working with:

  • Your fellow executives
  • Directors and other high-level management
  • Department heads
  • Project managers

Who Does the Chief Strategy Officer Report To?

According to a 2020 survey by Deloitte, 69 percent of CSOs report directly to the CEO. However, you may report to the COO as well. That’s more likely to occur if your CEO spends a significant amount of time as the public face of the company. In that case, you’ll work with the COO to develop and execute initiatives and corporate strategy.

Chief Strategy Officer Career Outlook

Chief strategists used to be an odd role that many CEOs didn’t understand because they handled company strategy themselves. In 2020, that perception is changing. At least 50 percent of Fortune 500 companies now have a CSO heading their strategic planning.

Consider Young Sohn, the CSO of Samsung. He’s helped the electronics giant redefine what he refers to as its operating rhythms to better embrace the future of a hyper-digital world.

Deloitte’s survey notes that the CSO role has existed for less than five years in 39 percent of the organizations that responded. That just shows how many companies are embracing this role. If you’re aiming to someday become a chief strategist, now is the perfect time to start preparing to be a competent and effective strategist. As Steven Goldbach – the CSO of Deloitte – notes, you’ll one day play a role in helping a company make challenging, pragmatic strategy choices. 

Chief Strategy Officer Salary Statistics

Ready to make bank? Chief strategy officers are well paid. According to PayScale, the average salary for a CSO in 2020 was $185,539 per year. The top 10 percent of CSOs earn as much as $297,000 per year. 

Two things influence your compensation: your experience and your specific skills. Let’s look at both.

What Sort of Experience Do Most CSOs Have?

According to PayScale, most CSOs come into the role once they are “experienced” or “late” in their career. That translates to ten to 20 years of professional experience. Deloitte agrees, noting that 66 percent of CSOs have over 15 years of professional experience, while some 44 percent have been at it for over 20 years.

What sort of professional experience? Expect your competition to have plenty of demonstrated expertise in things like:

  • People and project management
  • Business administration
  • Marketing
  • Finance

You’ll need similar expertise to become a chief strategy officer. We’ll talk about that next.

What Skills Can Increase Your Salary?

CSOs with a good sense of corporate governance and leadership are in greatest demand. In 2020, PayScale noted that these skills could increase a candidate’s compensation:

Chief Strategy Officer Skills & Qualifications

As the chief strategist, you’ll be involved with many different parts of the company to ensure that initiatives stay on track. As a result, it’s more important to develop a well-rounded foundation of skills for operating at a very high level than it is to develop specific technical expertise. We recommend that you focus on:

  • Leadership skills. You’ll spend a lot of time leading project management, supervising other strategists, and working with your executive colleagues to guide the organization. Make sure you’ve got your leadership fundamentals down. 
  • Strategy. Business strategy is a sought-after skill in chief strategists. We recommend that you learn blue ocean strategy to create the best visions and guide your organization. 
  • Management. If you aren’t already adept at managing teams and people, make sure you get up to speed as quickly as possible. 
  • Data. Business intelligence is a data-driven skill, and companies want their chief strategists to be able to do it. Learn the foundations of data analysis like one-variable statistics so you can make thoughtful, informed, data-driven decisions.

What Degrees Do I Need to Be a Chief Strategy Officer?

You will need an advanced degree to secure this role. While your bachelor’s degree can range from business to law or even the liberal arts, the top executives of most large corporations have an MBA. 

If you’re still choosing your bachelor’s degree, we recommend aiming for a business degree. That will help you start developing the foundation that you need to become a chief strategy officer.

The Best MBA for a CSO 

MBAs are increasingly common among the ranks of top executives, and that includes chief strategists. An MBA will provide you with the deep business skills and abilities that you’ll need to guide an organization effectively. However, people who have their sights set on an executive role specifically may want to consider pursuing an executive MBA, or EMBA, instead.

An EMBA differs from an MBA in that the courses and electives you take are more geared toward corporate strategy and governance. You’ll still learn all the business fundamentals that you need, but you’ll also gain additional skills for the board room. 

Many EMBA programs, like the one at Quantic, also let you specialize in areas including advanced corporate strategy or data analysis. That can give you a competitive edge in a world where MBAs are becoming the norm and help tip you for the role.

Another consideration for choosing an MBA program involves whether an online or traditional MBA is right for you. Each has its advantages:

  • An online MBA lets you keep working while earning the credentials you need on a schedule that works for you.
  • A traditional MBA provides structure and focus and is still well regarded in the business world.

Either way you go, make sure your choice offers a career network to help you develop your professional connections.

The Chief Strategy Officer Resume

Ever wonder what a chief strategy officer’s resume looks like? They’re intense. Typically, they:

  • Are action-oriented. Expect to see lots of bullet points with responsibilities and accomplishments.
  • Put experience first, skills second. They’ll be able to demonstrate what they’ve done, but also talk about what else they can do.
  • Only list the most advanced degrees attained. Unless they’ve also got an MBA, you’ll typically only see the most advanced degree listed. Take note of this if you’ve got a bachelor’s degree that isn’t in the business field.
  • Only list related skills and experience. Got a lot of irrelevant stuff and odd jobs on your resume? Time to clean it up and show that you’re ready to be a CSO.

Here are two great examples of what yours might look like one day:

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MintResume

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VelvetJobs.

The CSO vs. COO

You might have noticed that the CSO sounds a little bit like the COO. In fact, that’s one of the reasons why some CEOs question the need for one in the first place. However, the two roles are different for two main reasons:

  • The CSO is consultative while the COO is executive. As a CSO, you’ll be asked for advice more frequently than the COO. In contrast, the COO will more frequently take charge of implementing and executing operations.
  • The CSO is future-oriented while the COO is present-oriented. The COO focuses on day-to-day operations, but you’ll be primarily concerned with where the company is going in the long run.

Being a Chief Strategy Officer for a Startup vs. Corporation

The chief strategist is much more common in large corporations, where the CEO may not have the time to manage the company strategy as much as they might. This position can take 10 to 15 years to attain and typically involves working your way up the ranks within the same company. (According to Harvard Business Review, 85 percent of CSOs are hired internally.)

Chief strategy officers less frequently appear in startups as the CEO typically takes on the role. However, a CSO can play a critical role in a startup if the CEO isn’t confident at taking the strategic lead. Often, you’ll see the role labeled “Chief Growth Officer (CGO)” to reflect the startup’s growth as a strategic priority. 

If you want to become a chief strategist/CGO of a startup, begin developing your career network as early as possible to make the right connections as you pursue your MBA. Look to connect with someone who’s got a vision that interests you, but who needs a strategist at their back to execute it.

Summary: Next Steps to Become a Chief Strategy Officer

The chief strategy officer is a vital but misunderstood role – we’ve hopefully cleared things up a little bit. Unlike other C-suite roles, the CSO is unique in that it doesn’t have a “domain” like finance, technology, or marketing. That can make it a difficult role to understand. The CSO is best understood as a position that supports the CEO. Simply put, if it involves the direction that the company is headed, you can count on being called for your advice. 

We’ve covered everything you need to know to prepare for such a dynamic and broad role in a corporation. From the skills you need to insights on the best MBA to pursue, you’re now equipped to strategize your next move to become a chief strategy officer. Still got questions? Leave a comment below and we’ll be happy to share some insights.

Quantic’s Weekly Roundup

Quantic’s Weekly Roundup is a satisfying mix of the latest breaking news, business, STEM and social science stories. Here are your headlines for this week: 

It’s your show: A virtual video presentation startup, mmhmm, launched in May as “a kind of joke,” but recently raised more than $31 million in funding and already has a user waitlist. During the pandemic, most of our social and business interactions moved to video chat. This app allows users to change their virtual rooms, backdrops, feature Instagram photos, show content “over your shoulder,” and share immersive slides or live videos. With a simple gesture on a trackpad, you can move your face around the screen, shrink or enlarge your image, or disappear completely. Beyond video conferences, the app can be used for bigger opportunities, like helping creators record and stream more interactive content on YouTube, TikTok, and elsewhere.

Proper LAB attire: The US Army Research Laboratory has developed augmented reality goggles for combat dogs, designed to let them receive orders at a distance. Each set of goggles is specially fit for each dog, with a visual indicator that allows the dog to be directed to a specific spot and react to the visual cue in the goggles. The goggles themselves are not new – military dogs are already used to wearing them as protection in bad conditions or for aerial drops, but the augmented reality system is a new development.

Drive my car: A U.K. startup is creating augmented reality technology for vehicles in the form of holographic displays. The company, Envisics, brings together technologies like computer vision, machine learning, big data analytics and navigation to build hardware that integrates into vehicles to project holographic displays. This provides enhanced “dashboards” of information to drivers, with features like mapping, navigation guidance, and hazard warnings. The company announced yesterday that it has raised $50 million in a Series B round of funding.

What came first, the chicken or the vegan egg: A French startup is launching a vegan egg that looks, cracks, and tastes like the real thing. Les Merveilloeufs (a play on the French words marvelous and eggs), created this 100% plant-based egg that will launch across restaurants in Paris. Unlike its competitors, their version bears the distinct yolk and whites of the traditional appearance of eggs. 

Student Spotlight: Sneakerhead, Kenneth Anand

Founder of 3 8 0 Group, Author, and former Yeezy General Counsel, Kenneth Anand, always ran full speed towards his goals. Besides his great love for hip hop and pop culture, that’s probably why he has an affection for sneakers and is even a self-proclaimed “Sneakerhead.” His drive and passion have always led him throughout his life and so far, he has been victorious in every race. 

After fifteen years of a successful law career, Kenneth realized that he wanted to leave his private practice and pursue his passion. “It was a wake up call for me,” says Anand. “I realized if there was any time to pivot, it was now. I could stay a partner and have a fine life, or I could try to find something that really ignited me.”  

He started pursuing his excitement for sneakers and focused on clients that were in the fashion and entertainment industries. It wasn’t long before an opportunity presented itself with one of his well-known clients, Yeezy Apparel. Kanye West’s sneaker and clothing brand wanted to hire Kenneth’s firm, but he had a better offer. “I used the opportunity to say, ‘Instead of hiring my law firm, why don’t you just hire me and I’ll come work for you guys full time.’”

Kenneth then became head of business development and general counsel to Yeezy, the leader in the multibillion-dollar global footwear industry. “When I left private practice to go to Yeezy, I didnt even think about the business world and I wasn’t anticipating making that transition. I was just trying to be the best lawyer for Kanye and Yeezy. I soon realized that every facet of my life, whether it was sneakers, fashion, hip hop, pop culture… everything that was interesting to me was rolled up into this one job. It’s so unique to find that sweet spot in your career and I felt like my life was coming full-circle.”

This inspired Kenneth to focus on the business side of the sneaker industry and pursue his MBA with Quantic. “I already knew everything there was to know about sneakers, so it was just very natural for me. What inspired me to go to Quantic was that there were terms being thrown around in business meetings by my CFO and it was like any foreign language that I needed to learn. I looked at many schools and at this phase in my life, it was less about where it was than the information itself and the quality of the learning. It was the perfect style of this learning for me. I could fly and do it on the plane, or do it in the morning before my kids got up, or after they went to bed.” 

He put these business tools to use in his daily life and knew the sneaker industry was his calling. “I knew that when Yeezy was over I needed to continue this. I didn’t want to go back to the practice of law, so I set myself up with the perfect segway.” 

In walks Sneaker Law, a bible for the sneaker industry. Kenneth and his partner, Jared Goldstein, decided to write a book that combines the legal and business side to the footwear world. “The topic of Sneaker Law came about even before I went to Yeezy,” says Anand. “The sneaker business is a 90-billion dollar industry, but most people think you can just buy a pair of sneakers and sell them for money. The goal was to introduce them to all these topics that would otherwise be daunting and standoffish, like business and law, and offer it in a way that was digestible and exciting.” 

Now, Sneaker Law goes far beyond the pages of a book. Anand and Goldstein recently lectured on the topic at Harvard Law School in January. “This is more than a book. We can go teach this, have an online course, there could be a podcast. Having that experience of making a business plan from start to finish at Quantic was extremely useful and now I have the needed confidence. All the things that I learned at Quantic were put to the test and used practically.” 

What is the latest goal that Kenneth is confidently chasing? He and former Yeezy CEO, Cristiano Minchio, have founded 3 8 0 Group, a fashion licensing company that helps celebrities, creatives, and rising brands grow and develop. “We have this bleeding heart for creatives and we just want to see creative people thrive. We set out to create a holding company that would help brands grow and develop in all ways. We take brands and we provide the infrastructure to grow. We’ve aligned with brands like Will Smith’s brand, Bel-Air Athletics, and will be debuting the first collection at our showroom in Milan.” 


Sneaker Law will hit shelves this December. Hardcover pre-orders are available now on sneakerlaw.com and e-book versions will be available on Amazon by mid-October. “As soon as you start doing what you love on a regular basis, you’re just compelled to do more to solidify your position. That’s what drives me,” Says Anand. “It’s a testament to where life can take you if you just go after what you’re most passionate about and give it your all.”

Quantic’s Weekly Roundup

Quantic’s Weekly Roundup is a satisfying mix of the latest breaking news, business, STEM and social science stories. Here are your headlines for this week: 

It’s a bird! It’s a plane! It’s a… Rolls Royce? Rolls-Royce has announced that the company has completed testing of the technology it plans to use in its line of electrically powered planes– one of which they expect will break speed records for electric airplanes. The new plane will be one of the core products of the company’s ACCEL initiative, whose main objective will be to produce zero-emission planes and engines for other plane makers, and to be net-zero by 2050.   

These boots were made for walking: The pandemic has changed everything from how we work, where we socialize, and what we wear. As people spend less time out in the world and more time daydreaming about when a vaccine will arrive, lifestyle shoes are only gaining traction. Comfortable shoe startups are seeing a big increase. Allbirds, a San Francisco-based maker of sustainable kicks, now has its product available in 35 countries and just closed on $100 million in Series E funding. 

Hey Mr. (A.I.) DJ, play me favorite song: Artificial Intelligence is playing the role of DJ across all top music-streaming services. The technology can learn everything from users’ listening habits, volume level choice and favorite genres. It even works to prevent “dead air” time in between tracks and can pepper in some new recommended tunes on that favorite go-to station. 

Future of farming: To help accelerate the future combination of farming and technology, Sunway Innovation Labs (iLabs) is launching Malaysia’s first urban farming innovation hub in November. It will bring together urban farming professionals, tech companies, researchers and up-and-coming professionals to create high-tech solutions for food and agriculture technology. Urban farms are not meant to replace traditional farms, which are typically in rural areas. Expanding urban farms will also reduce the country’s reliance on food imports. Malaysia currently imports about a quarter (24%) of its total food supply.

Student Spotlight: Dr. Noble Adapts to Create Solutions During the Pandemic

“I saw a patient who walked in with a little difficulty and complained of extreme fatigue. I remember speaking to him, having a normal conversation, while conducting my examination. I was shocked and horrified to see this man having a full conversation with me had a blood oxygen saturation reading of 34%. His chest x-ray was remarkable and I immediately phoned an internist for his admission to the intensive care unit. His only positive COVID-19 criterion was fatigue. He did not even complain of shortness of breath, fever, or have any of the other typical symptoms. That evening, as I did my admission follow-up calls, I was told that he had been placed on a ventilator within two hours of arriving in ICU. I had never seen such a quick deterioration. Luckily, this patient improved quite miraculously and he is one of my favorite recovery stories.” 

This type of rapid patient deterioration became a common occurrence at the beginning of the pandemic in the Johannesburg, South Africa hospitals where Executive MBA Student, Dr. Teneel Noble, works as an ER physician. “A patient would come in speaking and by the end of your hospital shift, they would be requiring some sort of ventilatory support. By the time you came in for your next shift, they had passed away. It was scary to witness,” says Noble. 

During the beginning of the pandemic, many of the hospitals had to rapidly convert their resuscitation rooms and non-emergency consultation rooms into COVID-19 red zones. This is where positive patients were cared for, as well as anyone exposed to the disease. “While hospitals, clinics and medical practices all have certain baselines and infectious control standards that need to be adhered to at all times, COVID-19 caused many complications to arise during implementation of these. This is mainly because massive infrastructure reallocation and subdivisions had to be achieved because the disease is so easily transmitted from person to person.”

Moving between the red zone and normal zone became a mission and a constant cycle of changing gowns and personal protective equipment (PPE). “Coming into the red zone requires putting on new personal protective equipment and new gowns each and every time. Coming out of the red zone requires removing all the gowns and personal protective equipment again. This cycle continues for each movement between zones. In an average shift, one could change in excess of 80 times.”

Dr. Noble in a Johannesburg Resus room, during the height of the pandemic.

Beyond facility logistics, staffing shortages, due to people contracting the disease, and lack of PPE began to become a reality. “Massive restructuring of schedules had to be undertaken to accommodate staffing of the ER. Due to the sheer amount of PPE that we were using, we needed to find a way that was cost effective and yet still efficient. I ended up having to buy a large number of refuse bags, as they were essentially what was needed. I cut out space for my hands and arms and used that. I was also able to recycle it in a sense, I would take it off, wash it in soap and water, dry it out and then dip it again in 70% alcohol.” 

Adapting to situations and finding quick solutions became a goal of Dr. Noble. Beyond working in the ER, the company she works for, MedAire, provides telemedicine for aviation and yacht medical support. Her startup, Medica Alliance International, now has an entire MDConnect wing dedicated to providing medical support for COVID-19. “My own personal practice endeavors have evolved since the start of COVID-19. What I love most about my job is the ability to make a tangible difference in the lives of others, and at the same time to learn and relearn on a daily basis. Medicine is not an exact science. It is science that draws upon the facts and also draws upon intuition when the facts do not make sense.”

Dr. Noble’s personal practice is what inspired her to pursue an MBA. Quantic’s flexible platform was the perfect fit. “After practicing clinical medicine for a few years, eventually settling in Emergency Medicine, I noticed there were many things that could change on the business side. Quantic has revolutionized how an MBA program should be run. Being in this profession, having a career with timely demands, and not being in a constant location, made it refreshing to find a program that took all of that into consideration. Quantic enables one to complete the coursework and requirements without burning out and trying to fit all spheres into a rigid schedule.”

After witnessing these pandemic hospital experiences first-hand, Dr. Noble has advice for a potential second wave. Her main takeaway is to stay vigilant and stay active. “One of the most important things to get through to the general public is that relaxation of lockdown does not mean that the pandemic is over. In fact, it means that despite greater freedoms, there should be greater awareness of preventative strategies. Mental health is also a major issue. This time may produce frustration, anger, depression, as well as anxiety. Physical exercise is very important. It will relieve stress and release those needed endorphins.”

Quantic’s Weekly Roundup

Quantic’s Weekly Roundup is a satisfying mix of the latest breaking news, business, STEM and social science stories. Here are your headlines for this week: 

Find your beach: As the Northern Hemisphere is gearing up for colder temperatures, some British tech workers are moving to warmer places. Many workers are working remotely, due to the coronavirus pandemic. Because of this, there has now been a recent spike in some tech workers moving temporarily to warmer countries, while others plan on visiting multiple locations and staying in Airbnbs. 

On today’s menu: Food tech startups in Singapore are serving up lab-grown milk and other edible products from natural ingredients. This type of cell culture technology is an effort to boost national self-sufficiency. Singapore imports 90% of its food, due to land scarcity, and is vulnerable to food shortages and price volatility. The situation was exacerbated when COVID-19 first struck. Efforts like this can reduce the island-nation’s import bill, as well as its carbon footprint.

Always home: Think you might’ve left the stove on or window open? Ring’s latest security camera is a drone that flies around the inside of your house when you’re not home. The new Always Home Cam is an autonomous device that can now give residents a perspective of any room, without needing multiple cameras. Once it’s done flying, the Always Home Cam returns to its dock to charge its battery.

Promoting diversity: Tech companies are looking to take concrete actions to improve diversity within their workplaces, and encouraging others to do the same. Two Seattle-based entrepreneurs, Michael Brown and Don Hyun, have launched Diversity Window: A platform that helps organizations make meaningful transformations around the culture of diversity and inclusion through surveys, tools, metrics, and sourcing. Companies can now analyze employee diversity data, set diversity hiring goals and create reports to share with employees and the public.