How to become a business manager

A manager who oversees business operations in a larger company might only manage operations for a single department. In smaller organizations, an individual in that same kind of role is often in charge of many or all departments.

What does a business manager do?

Business managers take on several responsibilities that directly influence their company’s success; they implement strategies that help companies meet monthly performance benchmarks and pursue success. In this role, these managers also keep a close eye on the competition, modifying business models to adapt to new or existing market demands.

• Supervising employees — Maintaining objective-driven relationships with employees that allow you to appropriately monitor their work performance.
• Implementing business strategies — Creating specific action plans that drive your organization toward success while navigating supply chain issues, market setbacks or other challenges.
• Resolving company issues — Solving issues between employees, vendors or customers that could compromise success.
• Streamlining sales and marketing processes — Developing processes that help your business find and connect with customers.
• Recruiting employees — Finding and onboarding talent that can help your company quickly fulfill objectives.
• Monitoring company finances — Constructing budgets, monitoring spending and establishing realistic short- and long-term financial goals.
• Tailoring regular reports — Designing and exporting reports for directors, stakeholders and other executives that report on recent company performance.

Many businesses benefit from the leadership of someone in a dedicated business management role, regardless of location or market. This means such managers might work in a variety of locations, depending on the nature and needs of the company. Some of the primary areas covered include:

• International management
• Economics
• Finance
• Marketing
• Operations

However, there are roles in nearly every industry that someone with a business management degree could apply for. 

Business management relies on several key skills to help companies cultivate success. These skills will help effective decision-making, overcoming hurdles and clear communication among all team members.

The skills a business manager might need include:

• Interpersonal communication — The ability to correspond effectively with employees, fellow business managers, executives, vendors and customers.
• Financial management — The ability to handle your organization’s budget, investments, savings and spending habits to generate ongoing profits.
• Problem-solving — The ability to mitigate disputes in ways that promote workplace efficiency and ongoing compliance.
• Project management — The ability to manage team members, delegate tasks, evaluate talent and complete assignments before deadlines arrive.
• Mentorship — The ability to teach, motivate and nurture employees in ways that help them develop skills and grow into leaders at your company.
• Decision-making — The ability to evaluate a company’s progress and make decisions that drive your organization toward continued success.
• Public speaking — The ability to deliver information in front of potentially large groups of people.

These and other skills are important for efficient, effective business management. Many of these abilities — including financial management and team motivation — can be improved over time. With practice and evaluation from company leaders, a manager can grow in their role along with the companies they help change. 

How to become a business manager

Before you can inspire employees, implement goals and integrate forward-thinking business strategies, you’ll need to complete a few steps.

Education

First, you’ll likely want to earn a Bachelor of Science in Management or a degree in a closely related field. Your bachelor’s degree will familiarize you with many of the basic skills you’ll need as a business manager, such as leadership, marketing, finance and strategic planning.

Certifications and licensure

Business students also might want to look into passing a major field test  — a standardized exam that measures critical knowledge. The 120-question test assesses ability to analyze business theories, use data tables and apply analytical methods to solve problems that business managers face.

There are also one or more certifications that can be obtained before a business manager goes to work. Some companies hire employees contingent on certification, while others may pay for the certification after the hiring process. These certifications help deepen knowledge of specific business fields, further helping ensure success.

Here are just a few certifications or licensures to be considered:

• Project Management Professional (PMP)® 
• Certified Business Process Associate (CBPA®) 
• Professional Certificate in Team Leadership 
• Certified Supply Chain Professional (CSCP) 

Some states also require that you obtain one or more additional certifications, in addition to any listed above. To save time and money, some students choose to pursue business degree options that combine education and operations management certification courses.

Business manager salaries

Employment for business managers is expected to remain favorable over the next decade. From 2022 to 2032, management occupations are projected to grow an estimated 6% , according to data from BLS.

Many of the anticipated new positions will be created by workforce shifts. As current business managers retire or change careers, opportunities for younger business managers will become available.

Over the next 10 years, business managers will likely maintain a large focus on efficiency, facility improvements and environmental standards. In addition to other business duties, business managers will need to ensure that company facilities use energy-saving methods to conserve output.

BLS Occupational Employment Projections, 2022-2032 is published by the U.S. Bureau of Labor Statistics. This data reflects BLS’ projections of national (not local) conditions. These data points are not specific to University of Phoenix students or graduates.

Becoming a business manager is a career option for many individuals. University of Phoenix offers several degree programs in business management:

• Bachelor of Science in Business
• Master of Business Administration (MBA)