What is business management?

Business management is the range of executive and leadership roles vital to the success of an organisation. A career in management can take you from entry-level positions like team leader, all the way up to senior positions such as CEO.

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 this area assist in keeping the business running and growing the company, or drive toward specific business goals such as revenue growth, market penetration, competitive advantages, client management, and more.

Professionals working within management roles are crucial to the success of an organisation. Working within a business role can mean a variety of things. Professionals can work on the administrative, operations, client, customer service, or business development side. There are a multitude of roles someone with a business management qualification could fill based on their strengths, transferable skills, and career goals.

SKILLS THAT EMPLOYERS ARE LOOKING FOR IN BUSINESS LEADERSHIP & MANAGEMENT

Employers are looking for professionals with the right technical skills in business, but also, the right transferable skills. Professionals who succeed in leadership and management roles are approachable, driven, able to work independently, excellent with people management and communication, possess stakeholder management skills and more. The ability to analyse data and create reports is also preferred by employers, who are seeking a professional to fit seamlessly into a business role.

HARD SKILLS

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

SOFT SKILLS

  • Excellent people management and interaction skills
  • Critical thinking
  • Detail-oriented
  • Organised

TRAITS

  • Honest
  • Driven by integrity
  • Approachable
  • Diligent

JOB ROLES

Business Development Manager

Average Salary
$79,000

Specialises in business development activities, creating plans for business growth and analysing current processes and systems to develop solutions that will positively impact the business. This may also include optimising marketing and hiring strategies.

Team Leader

Average Salary
$72,000

A team leader is a team’s immediate supervisor and the communication point between management and lower-level staff. They can be hands-on in task delegation, dispute resolution, employee management and work hard to improve a team’s efficiency in order to meet specific department or team targets. A team leader is like a second-in-command below a manager.

Office Manager

Average Salary
$67,000

Working as an office manager can see you working in a range of industries. From managing the day-to-day operations of an office to managing people and tasks, they are responsible for making the office run efficiently.

Chief Executive Officer

Average Salary
$160,000

The Chief Executive Officer (CEO) of a company is responsible for the company’s overall management.
They specialise in executing the business strategy, liaising with both stakeholders and employees to effectively run a business.

Sales Representative

Average Salary
$61,000

Sales representatives are in charge of selling products or services that a company offers. This may be in person, but is most likely over the phone or via email. Sales representatives can also be a part of the customer service department in some organisations, however most professionals in these roles focus solely on converting interested people into customers.

Business Associate

Average Salary
$70,000

Business associates can have a variety of responsibilities within an organisation, depending on the company structure. Entry-level business associates will have administrative responsibilities, data analysis and reporting, documentation of processes, some billing responsibilities and working on improving business efficiency.

Business Analyst

Average Salary
$81,000

Entry-level business analysts provide support to the business by documenting business requirements, processes and procedures. They analyse data and reports to come up with suggestions for improving business operations to achieve organisational goals.

Business Development Manager

Average Salary
$79,000

Specialises in business development activities, creating plans for business growth and analysing current processes and systems to develop solutions that will positively impact the business. This may also include optimising marketing and hiring strategies.

Team Leader

Average Salary
$72,000

A team leader is a team’s immediate supervisor and the communication point between management and lower-level staff. They can be hands-on in task delegation, dispute resolution, employee management and work hard to improve a team’s efficiency in order to meet specific department or team targets. A team leader is like a second-in-command below a manager.

Office Manager

Average Salary
$67,000

Working as an office manager can see you working in a range of industries. From managing the day-to-day operations of an office to managing people and tasks, they are responsible for making the office run efficiently.

Chief Executive Officer

Average Salary
$160,000

The Chief Executive Officer (CEO) of a company is responsible for the company’s overall management.
They specialise in executing the business strategy, liaising with both stakeholders and employees to effectively run a business.

Sales Representative

Average Salary
$61,000

Sales representatives are in charge of selling products or services that a company offers. This may be in person, but is most likely over the phone or via email. Sales representatives can also be a part of the customer service department in some organisations, however most professionals in these roles focus solely on converting interested people into customers.

Business Associate

Average Salary
$70,000

Business associates can have a variety of responsibilities within an organisation, depending on the company structure. Entry-level business associates will have administrative responsibilities, data analysis and reporting, documentation of processes, some billing responsibilities and working on improving business efficiency.

Business Analyst

Average Salary
$81,000

Entry-level business analysts provide support to the business by documenting business requirements, processes and procedures. They analyse data and reports to come up with suggestions for improving business operations to achieve organisational goals.

What does an average day look like as a business manager?

Business managers can have a variety of responsibilities based on the size and the nature of an organisation. In a large organisation, business managers may have specialisation in one function of the business, and work with other managers and team leaders to achieve goals. In a smaller organisation, a business manager may control the strategic direction of the business on their own, as well as overseeing various departments. On an average day, business managers will be conversing with clients, employees or other stakeholders, either in person, video calls, over the phone or via email. They may need to read and assess specific business reports and data, create business reports and data or work on long-term strategies for the business.

Business managers also might be more hands-on, directly managing certain employees or checking in with department meetings or management meetings. Business managers can also work independently of an organisation’s departments, and be seen as a consultant focusing on a specific business goal such as new product development, client account management and retainment, or action revenue growth strategies.

Pursuing career opportunities in business management

Given the opportunity to pursue a business management career in almost any industry, insights into particular roles are more difficult to measure. A report from 2020 shows that within business management roles, Office Manager occupations show the largest increase in employment, with all business management roles showing a positive growth in employment rate. Office managers are shown to increase from around 141,000 professionals in 2020 to 180,000 by 2024.

The top occupations in demand are:

Program or Project Administrator

Corporate General Manager

Corporate Administrator

Office Manager

General Manager

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

48% of Key Management Positions

28.1% of Directors

14.6% 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

Industry Insights

Small Business Management

For those with an entrepreneurial mind, starting your own business may be the perfect choice to kickstart your new career path. Whether you’re starting your own business, or are looking to build on your experience – having the right tools, education, and skills behind you will help you find success in your exciting new venture. 

Take your next step into your entrepreneurial journey and gain a clear understanding of how to succeed in a small business by gaining your Entrepreneurship and New Business Certificate. Starting a new business takes a host of interpersonal skills, as well as insight into legal and risk management, and financial planning that can be learned through a formal qualification. 

Those looking to upskill and develop a stronger understanding of how to manage a small business will also benefit from a small business qualification. A successful career in business management requires an understanding of the unique challenges small businesses face, and how to manage and run one effectively. Strengthening your communication skills and developing your leadership style is essential for managers at every level, and especially in small business.

How do I start a career in Business Management?

Starting a career in business leadership and management all begins with the right attitude, willingness to network, and the drive to qualify oneself 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 skillsets 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. Having the right attitude to leading is important, but having the knowledge, understanding and skills to support your leadership approach is essential.

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.

tell me more

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

BUSINESS LEADERSHIP & MANAGEMENT