Profession business manager

Business managers are responsible for setting the objectives of the business unit of a company, creating a plan for the operations, and facilitating the achievement of the objectives and implementation of the plan together with employees of the segment and stakeholders. They keep an overview of the business, understand detailed information of the business unit and support the department, and make decisions based on the information at hand.

Would you like to know what kind of career and professions suit you best? Take our free Holland code career test and find out.

Personality Type

  • Enterprising / Investigative
  • Enterprising / Conventional

Knowledge

  • Financial forecasting

    The tool used in performing fiscal financial management to identify revenue trends and estimated financial conditions.

  • Company policies

    The set of rules that govern the activity of a company.

  • Strategic planning

    The elements defining the foundation and core of an organisation such as its mission, vision, values, and objectives.

  • Corporate social responsibility

    The handling or managing of business processes in a responsible and ethical manner considering the economic responsibility towards shareholders as equally important as the responsibility towards environmental and social stakeholders.

  • Business management principles

    Principles governing business management methods such as strategy planning, methods of efficient production, people and resources coordination.

  • Business law

    The field of law concerned with the trade and commerce activities of businesses and private persons and their legal interactions. This relates to numerous legal disciplines, including tax and employment law.

  • Cost management

    The process of planning, monitoring and adjusting the expenses and revenues of a business in order to achieve cost efficiency and capability.

Skills

  • Abide by business ethical code of conducts

    Conform and follow the ethical code of conducts promoted by companies and businesses at large. Ensure that operations and activities do comply with the code of conduct and ethical operations the supply chain throughout.

  • Hire new personnel

    Hire new personnel for a company or organisation payroll via a prepared set of procedures. Make staffing decisions and direct selection co-workers.

  • Get involved in the day-to-day operation of the company

    Collaborate and perform hands-on work with other departments, managers, supervisors, and workers in different aspects of the business from preparing accounting reports, envisioning the marketing campaigns up to having contact with clients.

  • Create a financial plan

    Develop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.

  • Build business relationships

    Establish a positive, long-term relationship between organisations and interested third parties such as suppliers, distributors, shareholders and other stakeholders in order to inform them of the organisation and its objectives.

  • Analyse business processes

    Study the contribution of the work processes to the business goals and monitor their efficiency and productivity.

  • Ensure lawful business operations

    Abide by legally binding regulations in order to protect the image of the company and the interest of stakeholders around it.

  • Develop an organisational structure

    Create and develop the organisational structure of a group of people working together to realise the goals of the organisation.

  • Apply business acumen

    Take appropriate actions in a business environment in order to maximise possible outcome from each situation.

  • Create a work atmosphere of continuous improvement

    Work with management practices such as continuous improvement, preventive maintenance. Pay attention to problem solving and teamwork principles.

  • Analyse business objectives

    Study data according to business strategies and objectives and make both short-term and long-term strategic plans.

  • Plan health and safety procedures

    Set up procedures for maintaining and improving health and safety in the workplace.

  • Develop company strategies

    Envision, plan, and develop strategies for companies and organisations aimed at achieving different purposes such as establishing new markets, refurbishing the equipment and machinery of a company, implementing pricing strategies, etc.

  • Develop revenue generation strategies

    Elaborate methodologies through which a company markets and sells a product or service to generate income.

  • Make strategic business decisions

    Analyse business information and consult directors for decision making purposes in a varied array of aspects affecting the prospect, productivity and sustainable operation of a company. Consider the options and alternatives to a challenge and make sound rational decisions based on analysis and experience.

  • Strive for company growth

    Develop strategies and plans aiming at achieving a sustained company growth, be the company self-owned or somebody else's. Strive with actions to increase revenues and positive cash flows.

  • Follow company standards

    Lead and manage according to the organisation's code of conduct.

  • Track key performance indicators

    Identify the quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting their operational and strategic goals, using preset performance indicators.

  • Control financial resources

    Monitor and control budgets and financial resources providing capable stewardship in company management.

  • Plan medium to long term objectives

    Schedule long term objectives and immediate to short term objectives through effective medium-term planning and reconciliation processes.

  • Manage staff

    Manage employees and subordinates, working in a team or individually, to maximise their performance and contribution. Schedule their work and activities, give instructions, motivate and direct the workers to meet the company objectives. Monitor and measure how an employee undertakes their responsibilities and how well these activities are executed. Identify areas for improvement and make suggestions to achieve this. Lead a group of people to help them achieve goals and maintain an effective working relationship among staff.

  • Develop business plans

    Plan, write and collaborate in the implement business plans. Include and foresee in the business plan the market strategy, the competitive analysis of the company, the design and the development of the plan, the operations and the management aspects and the financial forecast of the business plan.

  • Negotiate with stakeholders

    Negotiate compromises with stakeholders and strive to reach the most beneficial agreements for the company. May involve building relationships with suppliers and customers, as well as ensuring products are profitable.

  • Assume responsibility for the management of a business

    Adopt and assume the responsibility that entails running a business, prioritising the interest of its owners, the societal expectation, and the welfare of employees.

  • Exercise stewardship

    Exercise stewardship to ensure the efficient and responsible planning and management of resources.

  • Conclude business agreements

    Negotiate, revise, and sign mercantile and business documents such as contracts, business agreements, deeds, purchases and wills, and bills of exchange.

  • Integrate strategic foundation in daily performance

    Reflect on the strategic foundation of companies, meaning their mission, vision, and values in order to integrate this foundation in the performance of the job position.

  • Liaise with managers

    Liaise with managers of other departments ensuring effective service and communication, i.e. sales, planning, purchasing, trading, distribution and technical.

Optional knowledge and skills

shape corporate culture manage financial risk liaise with local authorities manage office facility systems create a financial report maintain relationship with customers financial management marketing management business loans international trade analyse business plans synthesise financial information marketing principles delegate activities show an exemplary leading role in an organisation accounting manage contracts prospect new regional contracts analyse financial risk oversee quality control evaluate performance of organisational collaborators financial jurisdiction integrate headquarter's guidelines into local operations share good practices across subsidiaries business process modelling align efforts towards business development market entry planning subsidiary operations describe the financial situation of a region shape organisational teams based on competencies develop organisational policies develop professional network project management financial statements keep updated on the political landscape speak different languages human resource management establish communication with foreign cultures prepare financial statements follow the statutory obligations banking activities execute marketing plan analyse market financial trends supply chain management manage budgets interact with the board of directors report on overall management of a business impart business plans to collaborators corporate law

Common job titles

  • Accounting assistant
  • Finance manager
  • Regional head of corporate (greater chicago area)
  • Executive assistant to the president and ceo
  • Assistant director, health care administration
  • Marketing manager, prime now
  • Business operations manager
  • Business development