Frequently Asked Questions About Business Management
Are you keen to control the operations of a company? Managers play a vital role in helping an organization achieve its goals. Business management training can help you gain the expertise you need to thrive as a leader in a wide range of professional settings.
Here are answers to four of the most common questions about this field:
1. What is business management?
Here's a typical business management definition: the coordination of an organization's activities in order to meet defined goals and objectives. Companies of all sizes rely on skilled managers to direct operations and manage staff effectively. The idea is to improve both efficiency and profitability.
Managers can work in virtually any industry, from banking and manufacturing to hospitality and food service. They are in charge of making sure businesses run smoothly and produce results.
2. What is a typical business manager job description?
The specific duties vary depending on the industry you work in and the size of the company you work for. But generally speaking, business managers are responsible for overseeing the day-to-day functions of a department or unit. Some typical tasks include:
- Developing business strategies and plans
- Negotiating contracts with suppliers
- Hiring and training staff
- Conducting performance reviews
- Establishing budgets and controlling costs
- Evaluating a department's overall progress
- Preparing reports for upper management
3. What do business management courses teach you?
You can choose to take a business management certificate, diploma, or degree program. It's important to note that there is often a lot of overlap with business administration. In fact, some programs use both terms. As with business administration, business management programs cover core topics like accounting, marketing, information systems, and business ethics. However, management courses typically include more extensive training in long-term planning and personnel organization.
Depending on the program, you may receive instruction in:
- Human resources management
- Strategic planning
- Project management
- Conflict resolution
Overall, business management training is aimed at giving you the leadership skills to manage both projects and people. Some programs concentrate on a specific industry, such as online sales, real estate, or hotel and restaurant management.
4. What is a typical business management salary?
Across Canada, a business manager salary can vary widely, depending on your specific area of focus and level of responsibility. Check out the median earnings for the following management careers. (All salary figures represent full-time earnings and are rounded to the nearest thousand.)1
- Insurance, real estate, or financial brokerage managers—$105K
- Financial managers—$92K
- Business services managers—$90K
- Corporate sales managers—$86K
- Advertising, marketing, or public relations managers—$83K
- Human resources managers—$89K
- Administrative services managers—$73K
- Hotel managers—$55K
- Food service managers—$42K
Keep in mind that the above figures are median earnings. That means half of the people in those occupations actually earn more.
Learn to Be a Leader
Get the skills you need to make a positive impact on an organization. With business management training, you can become the professional you aspire to be. Start by exploring the programs listed above. Or discover convenient, nearby options by typing your postal code into the following school finder!
1 Government of Canada, Job Bank, website last visited on February 21, 2019.