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

• Cost management

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

• 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 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.

• Financial forecasting

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

• Business management principles

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

• Strategic planning

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

• Company policies

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

Skills

• Conclude business agreements

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

• 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.

• 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.

• 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.

• 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.

• Analyse business processes

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

• 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.

• Apply business acumen

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

• Analyse business objectives

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

• Ensure lawful business operations

  Comply with legislation in the daily operations of a company

• Develop an organisational structure

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

• Plan medium to long term objectives

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

• Develop revenue generation strategies

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

• Control financial resources

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

• 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.

• 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.

• Exercise stewardship

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

• Follow company standards

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

• 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.

• 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.

• 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.

• 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.

• Liaise with managers

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

• 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.

• 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.

• 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.

• Plan health and safety procedures

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

• 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.

Optional knowledge and skills

Source: Sisyphus ODB