What is business management?

Business management is a broad area that encompasses the skills and responsibilities of many business and managerial-focused roles within an organisation. Professionals working in business management assist in organisational growth overall, as well as driving specific business goals like revenue growth, market penetration, competitive advantages and client management.

There are a multitude of roles someone with a business management qualification could fill based on their strengths, transferable skills and career goals. These can range from administration or operations to customer service or business development.

JOB ROLES

Business Development Manager

Average Salary
$130,000

Specialises in business development activities. This role creates plans for business growth, analyses current processes and systems, optimises marketing and hiring strategies, and develops business solutions. 

Team Leader

Average Salary
$103,000

Manages communication and expectations between leadership and employees. This role involves task delegation, dispute resolution, employee management and driving team targets and efficiency. 

Office Manager

Average Salary
$74,000

Working as an office manager can see you working in a range of industries, from retail and warehousing to medical and professional services. This role is responsible for making an office and its people run efficiently.

Chief Executive Officer

Average Salary
$313,000

Specialises in executing business strategy, liaising with stakeholders and employees to effectively run a business. This role is responsible for the company’s overall management and business strategy.

Sales Representative

Average Salary
$86,000

Sells products or services for a company. This role may be in person, over the phone or online. Most sales representatives focus solely on converting interested people into customers, however they may assist customer service.

Business Associate

Average Salary
$81,000

Works across a range of responsibilities which may include administration, data analysis and reporting, documentation of processes, billing and improving business efficiency. 

Business Analyst

Average Salary
$109,000

Provides support to the business by documenting business requirements, processes and procedures. This role analyses data and reports and suggests ways to improve operations and achieve business goals.

Business Development Manager

Average Salary
$130,000

Specialises in business development activities. This role creates plans for business growth, analyses current processes and systems, optimises marketing and hiring strategies, and develops business solutions. 

Team Leader

Average Salary
$103,000

Manages communication and expectations between leadership and employees. This role involves task delegation, dispute resolution, employee management and driving team targets and efficiency. 

Office Manager

Average Salary
$74,000

Working as an office manager can see you working in a range of industries, from retail and warehousing to medical and professional services. This role is responsible for making an office and its people run efficiently.

Chief Executive Officer

Average Salary
$313,000

Specialises in executing business strategy, liaising with stakeholders and employees to effectively run a business. This role is responsible for the company’s overall management and business strategy.

Sales Representative

Average Salary
$86,000

Sells products or services for a company. This role may be in person, over the phone or online. Most sales representatives focus solely on converting interested people into customers, however they may assist customer service.

Business Associate

Average Salary
$81,000

Works across a range of responsibilities which may include administration, data analysis and reporting, documentation of processes, billing and improving business efficiency. 

Business Analyst

Average Salary
$109,000

Provides support to the business by documenting business requirements, processes and procedures. This role analyses data and reports and suggests ways to improve operations and achieve business goals.

Industry insights

What skills do I need to work in business management?

Employers are looking for professionals with the right technical business skills and the right transferable skills. They are ideally approachable, driven, able to work independently, excellent with people management and communication, and possess stakeholder management skills.

Hard skills

  • Digitally fluent
  • Detailed understanding of regulations, laws and quality standards
  • Able to use risk assessment and management software
  • Report writing skills
  • Data analysis

Soft skills

  • Excellent people management and interaction skills
  • Critical thinking
  • Detail-oriented
  • Effective communicator
  • Organised
  • Able to work independently and with others

Traits

  • Honest
  • Driven by integrity
  • Approachable
  • Diligent

BUSINESS LEADERSHIP & MANAGEMENT

Frequently asked questions about business management

Business managers have a variety of responsibilities based on the size and nature of an organisation. In a large company, they may specialise in one function of the business and work with other managers and team leaders to achieve goals. In a smaller company, they may control the strategic direction of the business on their own and oversee various departments. Tasks may include:

  • Conversing with clients, employees and stakeholders
  • Utilising in-person meetings, video conferencing, phone calls and email for communication 
  • Reading and assessing specific business reports and data
  • Creating business reports and data
  • Working on long-term strategies for the business
  • Manage employees
  • Participate in department or management meetings
  • Focusing on specific business goals
  • New product development
  • Client account management and retainment
  • Action revenue growth strategies

Almost every industry requires good business management professionals. However, professional services, information media and telecommunications, administration, health care and manufacturing are particularly prominent for business managers.

The 2019–2020 WGEO (Workplace Gender Equality Agency) Report brought forth some data about the percentage of women in business leadership positions. Women make up:

  • 48% of key management positions
  • 28% of directors
  • 15% of board chairs

The WGEA Report also details a valuable 10-step process for getting more women into management positions.

  1. Build a strong case for change
  2. Role-model a commitment to diversity, including with business partners
  3. Redesign roles and work to enable flexible work and normalise uptake across levels and genders
  4. Actively sponsor rising women
  5. Set a clear diversity aspiration, backed up by accountability
  6. Support talent through life transitions
  7. Ensure the infrastructure is in place to support a more inclusive and flexible workplace
  8. Challenge traditional views of merit in recruitment and evaluation
  9. Invest in frontline leader capabilities to drive cultural change
  10. Develop rising women and ensure experience in key roles

Around 89% of people employed as a business management professional work full-time hours, with an average of 49 hours per week in their main job.

If you have an entrepreneurial mind, starting your own business may be the perfect choice to kickstart your new career path. Whatever your specific goals, having the right tools, education and skills behind you will help you find success in your exciting new venture. 

We’d recommend gaining your Certificate IV in Entrepreneurship and New Business (BSB40320) or other formal business qualification to gain a clear understanding of how to succeed in a small business. Starting a new business takes a host of interpersonal skills, as well as insight into legal and risk management and financial planning. These can be learned through a formal qualification. 

Starting a career in business leadership and management begins with the right attitude, willingness to network and the drive to qualify yourself with the right skills and knowledge. A qualification in business like the Diploma of Business (BSB50120) is an excellent way to ensure you are learning the right skill sets and able to confidently succeed in any job role and industry. For those succeeding in a 2IC role and looking to transfer into a leading and managing role, the Diploma of Leadership & Management (BSB50420) is an excellent choice for developing critical management skills. 

WHY STUDY WITH CAL?

Real Outcomes. Guaranteed.

Our Real Outcomes Guarantee is our commitment to you and your career goals, ensuring that your studies will give you real-world benefits.

Our team, assessments and feedback are all focused on helping you in your career, not just completing your course. As the only RTO offering this, our guarantee is part of our ongoing work to go beyond just a piece of paper.

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CAL Careers Hub and Career Counselling

We support you beyond achieving your qualifications – we want to help you be as prepared as possible for taking the next step in your career. Our Careers Hub gives you complimentary and exclusive access to resources and personalised advice from our in-house Career Coach.

My experience with Jenni the career counsellor was exceptional…The feedback was so helpful. She was encouraging too, and made me feel more sure about how to ‘sell myself’ to the target employers. I am very impressed with CAL’s careers hub – many resources that I will use. Thank you very much for your help.

– Samantha M.

Every member of our team is here to support you beyond achieving your qualifications. We want you to be as prepared as possible for taking the next step in your career. As a CAL student you’ll gain access to our Careers Hub through our online learning hub ‘Spark’.

Learn more about the cal career hub