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Explore Business Management Careers with Careervira Career Guide 2023
11 August 2023
Every business needs to be managed and this task is mostly entrusted to a business manager. In the United States alone there are more than 70,000 business managers according to Zippia. Worldwide, the demand for business managers is increasing. Learn how you can also enter into Business Management careers as a business manager with this Career Guide. This comprehensive guide covers all the required skills, qualifications, roles and responsibilities of this field.
Features
Table of Contents
2. Who is a Business Manager?
3. Roles and Responsibilities
4. Prerequisites
5. Essential Skills
6. Soft Skills
14. Careervira: Helping You Make Faster and Better Decisions!
17. Technical Skills
18. Industry Outlook
21. Explore General Management Subcategory
Every business needs to be managed and this task is mostly entrusted to a business manager. In the United States alone there are more than 70,000 business managers according to Zippia. Worldwide, the demand for business managers is increasing. Learn how you can also enter into Business Management careers as a business manager with this Career Guide. This comprehensive guide covers all the required skills, qualifications, roles and responsibilities of this field.
Who is a Business Manager?
Business managers are supervisors who oversee and lead an organization or a department's employees and operations. They implement operational strategies, conduct performance evaluations and oversee all the company's daily activities to ensure efficiency and productivity. Business managers identify new opportunities to help the company grow and advance in their market.
Business Managers are also successful Project Managers, who work with employees to manage projects and determine areas of improvement, if any. Their tasks include recruiting, training, and termination of employees. They also host regular meetings with employees to offer advice and guidance on improving their performance.
Business managers must have various skills depending on the department, industry, and field they work in. They must have superior business knowledge to create strategies for strengthening their department or the company. The common skills essential for most business managers include financial management, customer service, leadership abilities, interpersonal skills, etc. These skills can be learned through Management courses.
They primarily work in an office setting to carry out administrative duties but also visit other departments to discuss budgets, strategies and performances. Business managers regularly attend meetings to offer reports and updates on their department's performance and progress.
Roles and Responsibilities
A business manager’s responsibilities include:
- Creation of marketing materials, including case studies, client quotes, references, etc
- Evaluating and identifying new opportunities for an organization's growth in current and potential markets
- Designing business strategies to meet the organization's goals
- Performing timely employee evaluations or reviews to determine areas of improvement
- Establishing the organization's goals and objectives and assessing their overall performance
- Preparing a budget for delivering great value to the organization
- Hiring and training new employees and motivating all the employees through incentives and positive feedback
- Solving customer needs and concerns through product innovation
- Ensuring that the employees have adequate resources to complete their work.
Prerequisites
Various careers in Business Management requires certain educational qualifications and experience, such as:
1
Educational Qualifications
- A bachelor’s degree in Business Administration, Finance, Management or a similar field.
- A master’s degree in business administration or MBA is preferred, not mandatory.
2
Certifications
- Certified Business Manager (CBM)
- Certified Manager (CM)
- Certified Business Analysis Professional (CBAP)
- Professional Certificate in Team Leadership
- Certified Supply Chain Professional (CSCP)
3
Courses
Certification courses can be helpful to become a business manager as it helps learn or polish the necessary skills. Careervira curates top programs by well-known course providers to help...
4
Work Experience
- 0-5 years of experience in the business management field
Essential Skills
Here are some soft and technical skills that will be necessary for growth in the business management sector:
Industry Outlook
The management sector is growing at a fast pace, and as per a report by the US Bureau of Labor Statistics, is expected to grow by 8% by 2031. There is also a corresponding increase in demand for Business Managers. According to Zippia, demand for business managers will grow by 6% from 2018-2028. Currently, more than 70,000 business managers are working in the US, and more than 300,000 vacancies for this role exist in the market.
Employers
Here are two lists of companies that offer a variety of Business Management career options, which any aspiring professional can explore.
- Top Indian Companies
Some of the top Indian companies hiring business managers are:- Tata Consultancy
- Unacademy
- Wipro
- HCLTech
- Flipkart
- Top Foreign Companies
Some of the top foreign companies hiring business managers are:- Accenture
- Amazon
- Deloitte
- Cognizant Technology Solutions
- Dell
As per Zippia, business management salary has increased by 4% in the last 5 years. Indeed, a job search platform reports the average salary of a business manager is $73,104 per annum. Thus, we can conclude that is a good time to enter the management sector as its future looks promising.
Soft Skills
- Communication Skills
Business managers must convey information, ideas and intentions professionally and effectively, and for that, strong communication skills are required. Their job requires them to communicate efficiently with team members, other departments, stakeholders and customers.
- Leadership Skills
Business managers must lead their teams and be well-versed in concepts like planning, organizing, and controlling organizational resources. Strong leadership skills will help to apply these concepts on an organizational level.
- Problem-solving Skills
Every business and organization faces complex situations and challenges. These situations require a thoughtful analysis and decision-making process. Problem-solving skills can help business managers to get to the root of a problem, understand, and solve it.
Some other soft skills needed in this job are:
- Time Management
- Teamwork
- Adaptability
Explore Business Management Careers with Careervira Career Guide 2023 Soft Skills
How to Acquire Beginner Level Explore Business Management Careers with Careervira Career Guide 2023 Skills
The technical skills required for becoming a business manager are mentioned below:
- Project Management
Organizations work on multiple projects simultaneously, and business managers oversee employees throughout one or more projects to coordinate activities and monitor progress toward specific goals. Project Management is a crucial skill for this purpose. You can build world-class project management skills by enrolling in international-level Project Management certification.
- Financial Intelligence
One of the tasks of a business manager is to evaluate, analyze, and interpret financial data and make informed business decisions. Financial intelligence is critical and will help them grasp the company’s finances.
- Data Analysis
Business managers have to analyze and review employee performance. They can measure the performance using basic data analytics. They must understand the trends, risks and data before evaluating the performance, and for that, data analysis is an important skill for building a successful data-driven business.
Some other technical skills are:
- Human Resource Management
- Marketing
- Supply Chain Management
- Information Technology
Careervira: Helping You Make Faster and Better Decisions!
This ‘Business Manager Career Guide’ is ideal for candidates looking for an entry or mid-level job in the management field. This guide covers all relevant qualifications and experience required for a Business Management career. You will also learn about the top Indian and foreign companies recruiting business managers.
This step-by-step guide will help you realize your career goals with less hassle. The relevant skills, roles, and responsibilities you will require as a business manager are mentioned here. This will help you better understand this role and learn or polish skills accordingly.
To build a career in Business Management, you can also pursue certifications like Certified Business Manager (CBM), Certified Manager (CM) and Certified Business Analysis Professional (CBAP) and boost your chances of getting hired. You can also use this Career Guide to prepare yourself for the challenges you will encounter after entering this field. Overall, Careervira’s Learn Guide is your one stop resource for making and sustaining a career in business management!
To know more on how to learn the skill required to be a General Management expert
Features
Table of Contents
2. Who is a Business Manager?
3. Roles and Responsibilities
4. Prerequisites
5. Essential Skills
6. Soft Skills
14. Careervira: Helping You Make Faster and Better Decisions!
17. Technical Skills
18. Industry Outlook
21. Explore General Management Subcategory
