Commercial managers expand market share, generate revenue and increase profitability. They are employed by energy companies, retailers, service providers, finance companies, and manufacturers. Job requirements vary, but most companies prefer to hire people with industry-specific experience.
Commercial managers are senior employees of corporations and other business entities responsible for expanding the company’s market share, generating additional revenue and increasing profitability. Small businesses often employ just one trade manager, but multinational companies often employ multiple individuals in trade manager jobs. Each of these managers is assigned a different region or territory. Energy companies, retailers, service providers and finance companies are among the types of companies that typically have commercial manager jobs.
Many energy producing companies are private sector companies, although some oil and natural gas producers are government sponsored companies. Government and private sector energy companies need to market products to utilities and consumers. Major energy companies export gas and oil to utility companies in other countries. Commercial managers negotiate contracts with utility providers and make arrangements with transportation companies to physically move containerized barrels of oil and gas to the company’s customers. Typically, commercial manager jobs at energy companies are often reserved for individuals who have language skills and a rudimentary knowledge of the commodity markets in which many types of natural resources are traded.
Retailers and manufacturers employ sales managers, and those who fill these roles must work with employees in the marketing and advertising departments to promote new and existing products. The commercial manager is usually responsible for managing the budget for a particular product, for certain divisions of the company, or for the operations of the company as a whole. Commercial managers need to liaise with regional managers to ensure that sales targets are met or exceeded. Businesses cannot remain solvent if operating costs, including advertising costs, exceed actual revenues, so the business manager has to ensure that products are priced so that the business can remain profitable.
Service providers, including utility companies, satellite television companies, and telecommunications companies, employ individuals to work in commercial manager jobs. These employees develop expansion strategies and work with the marketing team to come up with ways to acquire new customers. Commercial managers generally have the authority to approve price reductions and organize special promotions. Telecommunications companies often employ several business managers, each of whom assumes responsibility for a particular service or network.
Banks, insurance companies and investment firms employ commercial managers who are charged with increasing revenues. These managers try to assess economic conditions and make decisions about what types of products and services the company should focus on and how those products should be priced. Sales managers report directly or indirectly to commercial managers and, in many cases, the commercial manager may have to help, train or replace managers whose departments are not producing sufficient revenue.
Job requirements for business managers vary, but most companies hire people with backgrounds in business, marketing, economics or a related field. Many companies prefer to hire people with industry-specific experience. In some areas, such as the investment world, commercial managers are often required to obtain government bond licenses, as anyone involved in the sale of securities must possess such a license.
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