Commercial managers are senior executives in corporations and other businesses who are in charge of growing the company’s market share, increasing revenue, and increasing profitability. Small businesses often have only one commercial manager, whereas multinational corporations typically have multiple commercial managers. Each of these managers is in charge of a different territory or region. Commercial managers work for a variety of companies, including energy companies, retailers, service providers, and financial firms.
Although some oil and natural gas producers are government-sponsored enterprises, many energy-producing companies are privately owned. Energy companies, both public and private, must market their products to utility companies and consumers. Gas and oil are exported major energy companies to utility companies in other countries. Commercial managers negotiate contracts with utility companies and make arrangements with transportation companies to physically transport oil and gas barrels to the firm’s customers. Commercial manager positions at energy companies are typically reserved for people with linguistic skills and a basic understanding of the commodities markets, where many different types of natural resources are traded.
Commercial managers are employed both retailers and manufacturers, and they must collaborate with employees in the marketing and advertising departments to promote new and existing products. The commercial manager is usually in charge of managing the budget for a specific product, certain divisions of the company, or the entire company’s operations. To ensure that sales targets are met or exceeded, commercial managers must communicate with regional managers. Firms cannot stay afloat if operating costs, such as advertising, exceed actual revenues, so the commercial manager must ensure that products are priced to keep the company profitable.
Commercial managers are employed service providers such as utilities, satellite television companies, and telecommunications companies. These employees devise expansion strategies and collaborate with the marketing team to come up with new client acquisition methods. Commercial managers are frequently in charge of approving price reductions and planning special promotions. Telecommunications companies frequently employ multiple commercial managers, each of whom is in charge of a specific service or network.
Commercial managers work for banks, insurance companies, and investment firms, and their job is to increase revenue. These executives attempt to assess economic conditions in order to determine which products and services the company should focus on, as well as how those products should be priced. Sales managers report to commercial managers directly or indirectly, and the commercial manager may be required to assist, retrain, or replace managers whose departments are not producing enough revenue.
Commercial managers’ job requirements vary, but most employers prefer candidates with a bachelor’s degree in business, marketing, economics, or a related field. Many companies prefer to hire people with specific industry experience. Commercial managers are frequently required to obtain government securities licenses in some arenas, such as the investment world, because anyone involved in the sale of securities requires such a license.