What Does a Business Manager Do? Role & Responsibilities

Author: University of North Dakota
June 20, 2024

Management is often described as the art of coordinating resources and tasks to achieve set objectives efficiently and effectively.

Therefore, it is essential for directing the collective efforts of an organization toward its goals, acting as the lifeblood of any business operation. And behind every successful management strategy, there's a business manager—the one holding these efforts together. But what does a business manager do exactly?

While we know their role is critical in maintaining the smooth operation of businesses, the specifics of their daily responsibilities and impact might not be as widely understood. Throughout this blog, we focus on the world of business managers, exploring the key functions they perform that help businesses not only survive but thrive. Read on and discover how these professionals manage to keep the wheels of the industry turning.

What is a Business Manager?

A business manager is one of the leaders of an organization, orchestrating its daily operations and steering it toward efficiency and productivity. This role involves strategic planning as well as hands-on management, ensuring that the organization's operations align with its broader goals.

Business managers engage in a variety of tasks ranging from setting objectives and coordinating resources to overseeing employee performance and nurturing their development. Their ultimate aim is to foster an environment that is productive but also adaptable to the shifting needs of the business world.

What Does a Business Manager Do?

A business manager helps guide a company toward its goals by strategically managing its operations. While the specific responsibilities of a business manager can vary widely depending on the industry and their role within the organization, several key tasks are commonly associated with this position:

• Developing strategic plans to ensure efficient operation and achievement of goals.
• Overseeing budgeting, including project budgets, billing, and financial performance of engagements.
• Leading marketing initiatives such as creating marketing materials and introducing new products to the market.
• Managing human resources tasks such as hiring, training, and maintaining workforce efficiency.
• Conducting data analysis to support decision-making and improve operational efficiency.
• Crafting and implementing sales strategies, managing sales teams, and coordinating with other departments to ensure alignment with overall business objectives.
• Reporting on business metrics, including expenses, performance, and market position.
• Providing leadership and direction to teams, focusing them on critical priorities to achieve operational targets.

How to Become a Business Manager?

A solid foundation of knowledge, skills, and credentials is crucial for effective business managers. Because these professionals are responsible for overseeing operations and leading teams, they must be well-informed and equipped with the necessary expertise. Lets go through each step to becoming a successful business manager.

Education

A strong educational background is the first step to a successful career in business management. Aspiring business managers typically start with a bachelor's degree in business management or business administration. These programs cover essential topics such as accounting, finance, marketing, and human resources, providing a comprehensive understanding of how businesses operate.

Those looking to advance further can pursue a Master of Business Administration (MBA), which can be highly beneficial. Graduate programs explore strategic management, leadership, and specialized business areas, preparing students for higher-level positions and greater responsibilities.

Gain Relevant Experience

Next, practical experience is invaluable for aspiring business managers. Entry-level positions in various business functions, such as sales, marketing, or operations, provide hands-on experience and a better understanding of business dynamics. These roles allow future managers to learn the intricacies of business operations, develop problem-solving skills, and gain insights into effective team management and customer relations.

Additionally, internships and part-time jobs during college offer exposure to different business environments and roles. These opportunities help students build a strong resume, develop practical skills, and establish professional networks. Internships, in particular, allow students to apply theoretical knowledge in real-world settings, understand industry-specific challenges, and gain mentorship from experienced professionals.

Develop Leadership Skills

Strong leadership qualities, a critical component of business management, involve the ability to motivate and inspire teams, make strategic decisions, and navigate complex organizational challenges.

Techniques for developing these skills include seeking mentorship, participating in leadership workshops, and taking on leadership roles in school or community organizations. Influential leaders are essential for guiding teams toward achieving business goals and fostering a positive work environment.

Earn Business Credentials

Obtaining business certifications can enhance your credibility and demonstrate your expertise in specific areas. Here are some in-demand business certifications:

• Project Management Professional (PMP) - Recognized certification for project managers covering project planning, implementation, and monitoring.
• Certified Business Analysis Professional (CBAP) - Focuses on business analysis and solution evaluation.
• APICS Certified Supply Chain Professional (CSCP) - Focuses on global supply chain management and operations.
• HubSpot Inbound Marketing - Certification in inbound marketing fundamentals.

Such certifications can significantly improve your career prospects and position you as a knowledgeable and skilled business manager.

Networking

Lastly, in the business world, who you know can sometimes be as important as what you know. Therefore, building a network of professional relationships is key to career growth and success as a manager. Networking can open doors to new job opportunities, provide valuable industry insights, and offer support from peers and mentors.

To expand your network and build strong professional relationships, attend industry events, join professional organizations, and connect with colleagues on professional networking platforms.

What Skills Do You Need to Be a Business Manager?

Of course, business management is heavily centered around leadership, but many other abilities are necessary for fulfilling the roles of a business manager. These skills include:

• Effective communication as you'll need to convey ideas, information, and intentions clearly and professionally in various settings and formats.
• A good grasp of financial concepts and the ability to work with financial data to inform business decisions.
• Understanding how IT impacts business operations and being able to utilize business technologies effectively.
• Critical thinking and problem-solving as you'll be regularly facing complex challenges that require thoughtful analysis and careful decision-making.
• Creativity and innovation, so you are able to think outside the box and come up with new ways of doing things.
• Effective time management so you ensure that projects are completed on time and resources are used effectively.
• Ability to work within a team, understand different team dynamics, and foster a collaborative environment.
• Ability to adapt to circumstances and pivot strategies as needed.
• Strong negotiation skills for securing deals, managing conflicts, and achieving mutually beneficial agreements.

Average Salary and Work Environment 

The annual wage for professionals in management roles is approximately $116,880, but this can vary significantly depending on the industry, location, and the manager's experience. Business managers in high-demand sectors such as finance, technology, and healthcare often earn higher salaries compared to those in other sectors. Entry-level positions might offer lower wages, but compensation can increase substantially with experience and advanced roles.

Business managers typically work in office environments, often spending a significant amount of time in meetings, both in-person and virtual, coordinating with various departments and strategizing with senior management. They may also travel to meet with clients and stakeholders or attend industry conferences, adding variety to their work routine. The job can be demanding, with tight deadlines and high expectations, but it also offers opportunities for significant impact and career advancement.

The Bottom Line

Now that you have a clearer understanding of what a business manager is and the roles they play, you can better decide if this career path aligns with your ambitions and interests. If you're inspired by the idea of leading teams, making strategic decisions, and driving organizational success, a career in business management might be the perfect fit for you. 

At UND, we offer excellent business management programs that can help equip you with the knowledge and skills necessary to thrive in this field. Such degrees can open doors to numerous career opportunities and help you become a leader who makes a meaningful impact. After all, effective leadership not only drives business success but also brings personal satisfaction in guiding others to achieve their goals. Join UND and let us help you turn your business management dreams into reality, guiding you from the classroom to the boardroom.

FAQs