How to Become a Business Manager(11 courses)
What do I need to study to become a Business Manager?
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Definition of Business Manager
A Business Manager directs the overall efforts of employees to guarantee that the company or department functions efficiently and meets its financial targets. Developing business plans and setting strategic goals, they work to promote profitability and drive growth.
Liaising with senior management and executives, the Business Manager creates and implements budgets; overseeing resource allocation, monitoring performance and evaluating results. They prepare and present progress reports and ensure compliance with company policies.
Business Managers are also typically involved in human resource operations, carrying out performance evaluations, supervising hiring and training, and developing incentive schemes to motivate employees.
What are the responsibilities of a Business Manager ?
- Developing business plans and setting strategic goals for a company or organisation.
- Defining and upholding company standards and providing consistent management and direction.
- Producing budgets and progress reports for presentation to senior management and executives.
- Providing leadership, inspiration and motivation to employees.
- Supervising the hiring, training and performance review of employees.
- Implementing and monitoring systems and strategies developed to increase profit and improve efficiency.
- Liaising with senior management and department heads regarding methods of operation, finance and sales.
- Approving and allocating funds and resources to achieve targets.
Career Outlook for Business Manager
The average age of people working as is 48 with 71.80% of them being male. 91.10% of are employed full-time and they typically work around 46.3 hours per week.
Unemployment is average and, with A Bachelor Degree or higher, the average Community Worker can earn around $2,250 per week Before Tax. In 2015 there were 53,000 working and the future growth of the profession is predicted to be stable, with numbers around 52,900 in 2020.