Who is a Business Manager?
A business manager is responsible for controlling and directing the personnel and activities within a company. There is no one particular job description for a business manager since it is basically an umbrella term used to signify the various management positions responsible for overseeing an organisation’s day-to-day operations. Therefore, needless to say, the business manager role also varies according to the company or the business type.
Nonetheless, some of the basic qualifications that are expected of every manager include good decision-making skills, excellent leadership, and communication skills.
This article will explore all about business managers, the various types of business managers, their roles and responsibilities, as well as the eligibility criteria. So, without further ado, let’s get started!
Types Of Business Managers
As stated earlier, the business manager roles and responsibilities vary according to the type of business. Nevertheless, the basic three types of roles that exist are highlighted below.
As the title suggests, office managers are responsible for overlooking a company’s day-to-day operations, including creating production schedules and handling various aspects of project management.
Slightly different from office managers, operations managers are the ones who take care of a company’s human resources department. Some of the most common tasks they perform include overseeing the hiring process, settling grievances (if any) of the current employees, enhancing business productivity, and revising company policies.
A sales manager is a person who oversees the entire sale department of an organisation. They are responsible for boosting employee participation and profit, bringing in new leads for the sales team, and collaborating with other departments of the company, such as the marketing team.
Roles And Responsibilities Of Business Managers
The following list contains some of the basic business manager roles and responsibilities.
- Strategise and implement ways to increase business productivity.
- Collaborate with the team lead to manage and expand the business.
- Design daily operation programs to meet the day-to-day objectives.
- Supervise different aspects of product management, such as billing, budgets and collection.
- Create effective plans to increase sales.
- Collaborate with the marketing department to analyse the competitive market and strategise effective pricing plans.
- Provide invaluable insights on the compilation of monthly, quarterly and annual reports.
- Supervise the hiring and training of new employees to streamline the workforce.
Eligibility Criteria to Become a Business Manager
Here are some of the most important eligibility criteria you need to fulfil to become a business manager. However, please note that these are just some basic requirements, as the qualifications might differ across various industries.
- Must possess excellent leadership skills.
- Should be able to facilitate smooth verbal and nonverbal communication.
- Must have three years of experience, or more, in business management or any other similar role.
- An in-depth understanding of the current market trends.
- Ability to deal with financial and budgeting processes.
Some organisations might also require you to have a Bachelor’s degree in business, management, or any other relevant field, alongside a strong knowledge of database and information systems software.
How To Become A Business Manager
Apart from the aforementioned eligibility criteria, there are also a few areas you need to work on, to become a successful business manager. With that being said, here is a list containing some of the crucial points you need to keep in mind before applying for the business manager position.
Secure A Relevant Degree
A bachelor’s degree in business management or any other similar field is usually expected of every person who wishes to apply for this role. Certain companies might even require you to have a Master’s degree for managerial positions. Therefore, look for universities that offer similar programs. The Executive Doctor Of Business Administration offered by upGrad is currently one of the most beneficial programmes offered by SSBM, specifically for working professionals.
Develop Your Skills
An ideal business manager must possess strong leadership and communication skills, thereby motivating employees to deliver their best. Therefore, in order to be successful in this field, strengthening relevant soft skills is imperative. Additionally, you should also master all the tools and techniques of business management. Focus on any particular area of management, and try to gain as much experience and knowledge as possible. Concentration in a field is bound to offer you an edge over your competitors.
Gain Relevant Work Experience
Another important factor to keep in mind is that your resume should constitute not just your educational or work history but also relevant work experience that aligns with your professional objectives and development. Obtain substantial experience in the relevant field through internships, boot camps, and part-time employment to seek an upper hand during recruitment.
Acquire An MBA Degree
An MBA degree with a concentration in business management works as an additional charm, especially for those pursuing higher-paying jobs. This also creates a positive impression in the recruiter’s mind that you’re willing to upskill yourself at all times, taking you one step closer to landing a lucrative job offer.
Building a professional network is extremely important in any industry. It helps individuals to enhance the scope of their influence and also get to connect with diverse people in their sector. One way to do this is by attending company events, participating in online communities, or joining organisations at work.
Creating a personal brand is also crucial for becoming a successful business manager. It highlights your organisational values, as well as your professional identity. The first step towards creating a personal brand is establishing a brand statement and then adding your unique skill sets and area of expertise.
Is Business Management Worth It?
Business management is considered a great career choice is its rapid growth. Management positions allow individuals to work autonomously, involving various tasks that need to be completed on a day-to-day basis. According to research conducted by the Bureau of Labor Statistics, employment in management occupations is expected to witness a 5% growth by the year 2029.
Business management might not be the first choice for many people since it involves managing various areas. Some might even find it challenging. Nonetheless, it is extremely rewarding and can be an excellent career choice if you put your mind to it. Like all other sectors, business management also comes with its fair share of challenges and responsibilities. However, it also opens up vast opportunities to choose from. Infact, this field is often said to be one of the most lucrative careers with exceptional advancement opportunities.
The average annual salary of a business manager in India is INR 7.4 lakhs, based on experience and skill level. The average salary for an entry-level business manager is INR 3 lakhs, while the average salary for an experienced senior business manager can reap up to INR 24.7 lakhs per annum.
Let’s take a look at some of the relevant roles in business management and their offered salaries.
|Roles||Average Salary (per annum)|
|Assistant office manager||INR 4.1 Lakhs|
|Assistant store manager||INR 3.7 lakhs|
|Shift manager||INR 2.8 lakhs|
|Sales support manager||INR 8.18 lakhs|
|Project manager||INR 12.5 lakhs|
The business management job description demands some of the most skilled and versatile professionals in the industry to apply for the role. As an entry-level candidate, the best you can do is upskill yourself with in-demand technical and soft skills and obtain significant practical experience for accurate implementation.
A solid credential is essential when applying for a business manager role, and upGrad enables you to possess the same with its Executive Doctor of Business Administration program. Offered under the guidance of the Swiss School of Business & Management, Geneva, this course is best suited for business professionals aiming to transition into C-suite roles.
Enrol now and kickstart your journey to achieve new heights with upGrad!
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What are some of the basic business management skills?
Some of the most common skills required for being a business manager include excellent communication skills, management and leadership skills, the ability to analyse financial data, technical experience or expertise, and critical thinking and problem-solving abilities.
What are some of the best fields for business management?
Some of the best business degrees most commonly associated with higher-paying jobs include, Finance, Accounting, Business Management, Marketing and Logistics.
What is the business management job description?
When it comes to managing a particular company, there are many roles and responsibilities that might be expected of a business manager. Some of the most common duties include handling day-to-day operations, establishing goals and objectives, and looking for opportunities for growth in the current and future market.