Who is a Business Manager? Salary, Skills & Career
Business management is the coordination and association of different business activities, and a business manager oversees them.
Business managers have strong leadership skills and the capability to work closely with others. These professionals manage the productivity of employees and work on developing creative strategies.
In this article, you will learn more about a business manager, the skills required to be one and the career scope.
Who is the Business Manager?
A business manager is a professional responsible for leading and managing employees and guaranteeing productivity. The efficiency of operations is done by providing the most suitable direction to handle different assignments while retaining customer satisfaction. A business manager is also expected to show exceptional leadership skills.
Did you know?
Leadership in businesses is a company’s capability to select and achieve set goals, tackle competitors, and take decisive actions to solve problems quickly. Want to know more? Take a look at what leadership is.
What Does a Business Manager Do?
The prime responsibility of a business manager is to manage and direct a firm’s operations and employees. Some of the other everyday responsibilities of a business manager include:
- Setting business goals according to the company’s requirements.
- Creating precise action plans and developing business strategies for achieving the set business goals.
- Supervising and monitoring employees’ work performance.
- Streamlining sales and marketing processes to help businesses find and associate with customers.
- Resolving issues between the employees, vendors, or clients to increase the success percentage.
- Tailoring periodic reports to monitor the company’s performance.
- Hiring and training new employees.
- Ensuring all business activities stick to the legal guidelines and policies.
Types of Business Managers
Business managers, as per the definition, are in charge of the daily operations of an individual or several departments. There are different types of business managers depending on the.
- What business strategy is opted by the company?
- What is the business manager’s role in an organisation?
- What is the task performed by the business manager?
The different types of business managers based on the above criteria are:
Office Managers– These are responsible for achieving the daily business administration tasks.
Sales Managers– They oversee the improvement and performance of the sales department and further take steps for progress.
Operations Managers– These professionals enhance the company’s managerial processes. This helps boost the efficiency and productivity levels of employees within the organisation.
Marketing Business Managers– They are in charge of the complete marketing team. These people work on creating strategies and objectives for advertising an organisation’s brand, product, or service.
What are the Skills Required to Become a Business Manager?
The skill set varies depending on the branch, industry, and domain of the business manager. However, some of the common skills that are important for most business managers include:
Project management skills to manage the team, delegate tasks, evaluate talent and meet deadlines.
Financial management skills, to handle the organisation’s budget, investments, and savings.
Effective communication skills, for smooth communication with employees, vendors, and customers.
Knowledge of different types of leadership skills helps a business manager prepare, encourage and nurture employees.
Strong decision-making skills that would drive the organisation toward continued success.
Salary of a Business Manager in India
Some of the primary domains a business manager work in include- management, economics, finance, marketing, and operations.
Coming to the salary, a Business Manager’s salary in India starts from ₹ 3 Lakhs-₹ 5 Lakhs and goes up to ₹ 25 Lakhs-₹ 26 Lakhs [Source]. The average annual salary lies somewhere around ₹ 7 Lakhs-₹ 10 Lakhs [Source].
Business Manager Career Scope
A business should operate like a fully charged device to boost its success. With each passing day, it continuously needs to improve its operating and regulating policies. For an organisation, a business manager is like a battery to the device.
A business manager would be an ideal career option for you if you’re someone interested in:
- Helping a company deal with challenges
- Satisfy customers and find ways to succeed
- Manage different responsibilities
How to Become a Business Manager?
With strong leadership skills, business managers are key persons to the long-term success of organisations (large or small). If you are planning a career as a business manager, here are the steps needed to become one.
Step 1: Get a bachelor’s degree
To start your career as s Business Manager, a bachelor’s degree in business or a related field is necessary to meet the industry standards.
Step 2: Get an Entry-Level Position
Choose a particular field for your chosen degree and domain of interest. Once chosen, take a step ahead and start with an entry-level job.
Seek advancement in your Career
Career advancements are necessary for your overall growth in a company. You can seek progress as a business manager by opting for different online business management courses to get an Executive or Advanced Strategic Management Certification.
Emeritus India offers top-notch online business management courses in collaboration with reputed universities like IIM and ISB. Experienced faculty members design the curriculum of these courses intricately to equip you with the skills required to redefine the frameworks of businesses and execute their strategic transformation, helping you rise to senior leadership positions and accelerate your career.
