The roles of business managers vary from one company to the next, depending on specific needs. In general, they are responsible for the overall performance, management and financial goals of a specific department, business unit, brand or group of a company. In small companies, only one business manager handles the company’s operation procedures and projects. In larger companies, several business managers work independently in planning, directing and overseeing operations in their respective groups.
Business managers are generally assigned to attract new customers, promote business, oversee day-to-day operations and perform tasks that would increase success of a company. Most business managers work under the CEO and attend meetings or provide reports to them regularly. In large companies, business managers assigned to smaller groups may report to department heads, senior executives or vice presidents.
Regardless of the company size, business managers work directly with employees and are responsible for delegating tasks and solving interpersonal problems. They make sure staff from their department or team work as efficiently as possible to encourage quicker company growth. Business managers work by assisting, encouraging and implementing policies to ensure his/her team reach department goals.
Education and Training Requirements
To become a business manager, one must obtain a bachelor’s degree in marketing, management, finance, communications, or a business related field. Experience in supervising a team is important in this job. Larger companies usually prefer candidates with an MBA and at least several years experience as a business manager. Some may require additional training, depending on the industry or department being managed. For instance, those assigned in the marketing department of a company, may require several years of sales experience. On the other hand, business managers of IT departments may need to have advanced programming/technical knowledge.
Knowledge and Skills Requirements
To be a successful business manager, one must possess excellent written and verbal communication skills, negotiation skills, interpersonal and leadership skills, strong motivational skills, exceptional marketing and sales skills, advanced computer skills, multitasking skills, organizational skills and ability to maintain budgets.
Business managers work in a dynamic environment with a fully equipped and well-lit office. However, he/she may always be on the move to delegate tasks and oversee day-to-day activities of his/her team. Business managers may also need to travel, work longer hours than the average 40-hour workweek and even go to work on weekends to meet deadlines. Since business managers are in charge of helping a company succeed financially, they should be able to cope with changing technologies, policies and industry trends.
The salary of business managers range between $35,000 and $140,000, which depends largely on their years of experience, education, job function, company location and size of the company.