Commercial managers are high-ranking executives who are in charge of many different aspects of a large corporation. In most cases, this type of professional is involved in risk management, employee performance management, contract negotiations, and project planning. Commercial managers are typically individuals who have years of experience in a specific industry and have demonstrated proficiency in a variety of skills. A commercial manager typically possesses exceptional communication and leadership abilities.
Commercial managers’ primary responsibility is often financial planning. To set budgets and develop financial plans, a commercial manager might meet with financial managers and managerial accountants. He or she may communicate company needs to financial strategists and market researchers, who will then collect and analyze the data.
Another important function of a commercial manager is contract negotiation. He or she keeps track of supplier and service provider contracts and ensures that all contract terms are followed. When a commercial manager is dissatisfied with services, he or she may discuss the issue with managers from supplier companies and come to a mutually beneficial agreement.
A commercial manager must be familiar with markets that are relevant to his or her company’s interests. This type of professional is frequently found in multinational corporations with operations in a variety of countries. Market analysis is used by commercial managers to figure out how to sell a company’s products or services in new markets and markets where the company already has a customer base.
A commercial manager’s job also includes risk management. When developing financial or marketing strategies, he or she aims to maximize profits while exposing the company to the least amount of risk possible. He or she typically presents findings to executives who make final decisions about a company’s actions.
Employee management is something that commercial managers do. They take part in the hiring process for higher-level positions. While human resources professionals are in charge of filling entry-level positions, commercial managers seek candidates for positions such as financial strategist and project manager. Commercial managers may also be in charge of promoting talented employees. Another common function of commercial managers is training.
A commercial manager frequently relies on his or her support staff to handle basic communication tasks. Staff members may, for example, send emails to colleagues and answer phone calls from clients. Staff may also prepare documents that a manager requires in order to make sound decisions.