Entering the league of management is an acknowledgment of one’s work over a lifetime. It’s a reflection of a potential leader who possesses a great understanding of not only the work but workforce dynamics.
Are you a strategist? Do people listen to you? Do you enjoy solving complex puzzles like business strategy experts? If so, a career in management as a business manager may fit you just fine. Here’s a roundabout of the occupation of a business manager.
Role: What do business managers do?
Managers play a key role in an organization’s performance – in terms of profitability and viability. Depending upon the type and size of the industry they may oversee several activities in the organization and hold many responsibilities. They,
- Supervise one or multiple departments
- Direct operations
- Provide foresight to build resilient organization and teams
- Interpret data and customer behavior to improve daily operations
- Are aware of industry best practices
- Are instrumental in motivating employees
- Spot weaknesses
- Identify opportunities
- Keep track of the latest trends and competitors
- Align ground reality and employee behavior with organizational goals
- Hire and train employees
- Make financial goals a reality
- Provide feedback, and nudge as well as reprove, as and when needed
- Prepare reports, and
- Develop budget.
These are only a few of the many responsibilities of business managers. To surmise, they are the business strategy experts who take an organization from where it is to where it wishes to reach.
Outlook: What is its career scope and salary?
According to the US Bureau of Labor Statistics (BLS), general administrative management occupations will witness a growth of 6% higher than the average occupational growth. That said, the career outlook of a business strategy expert or manager is highly contingent upon the industry one is operating in.
For instance, in the current times of COVID-19 healthcare and technology industries are in the green, while tourism is suffering. The impact would also percolate down to the business managers working in these respective sectors.
Irrespectively, once in, the pay, emoluments, and prestige given to business managers are high across all industries. Once you successfully lead a team and the organization to success, you can wear it as a badge of honor on your resume.
Regarding salary, BLS states that managers enjoy some of the highest premiums in their industry. Additionally, with several successful feats, they can even run in the league of CEOs.
Typically, a host of factors are instrumental in shaping the career prospect of a business strategy expert and her employment prospects – from education and region one is applying to other market conditions.
Education & Training: Credentials you will need
Beyond formal education, business managers have the ability to think critically and work independently. Along with it, they understand financial data and possess first-rate written and oral communication and people skills.
Many opt for business management courses at the master’s level, but recent bachelor’s graduates in business administration can also begin their careers in the management.
It must be noted that since it’s a high-level position, it is always desirable if one possesses either advanced degrees or a huge experience. Such professions tend to enjoy high salaries and the best of the opportunities.
That said, in accordance with the digital age, many professionals are opting for self-learning through best business certifications instead of going for advanced degrees only to realize it is the experience that triumphs classroom learning.
Certifications offer a middle conduit to learning as well as gaining practical exposure. Their curriculum is usually chiseled out very carefully as per industry needs. Among a few juggernauts, The Strategy Institute offers two certifications – one for beginner strategists and another for
Get a strong foothold in the business world as a business manager by becoming ready for the next league of your career with a strategy certification.