So, you’re interested in general management? Whether you’re a startup founder, an investor, or a marketing leader, this guide offers insights into this dynamic field. General management offers exciting career paths, shaping organizations and driving success.
General management involves overseeing and coordinating all aspects of a business to achieve its objectives. It requires strategic thinking, leadership skills, and a deep understanding of various business functions, like operations management, human resource management, business analytics and other general management program concentrations. Think of it as conducting an orchestra — each musician contributes, but the general manager creates the harmony. The general management major prepares you with organizational behavior skills and other foundations in leadership training, business analytics, data analytics, operations management, and other core tenets.
Table of Contents:
- What Does a General Manager Do?
- Essential Skills for General Management
- General Management in Different Industries
- The Importance of Education in General Management
- FAQs
- Conclusion
What Does a General Manager Do?
General managers have diverse responsibilities across the organization. They balance strategic vision with daily operations. Their tasks range from setting budgets and developing marketing plans to hiring and training employees.
Core Responsibilities
A general manager’s core responsibilities typically include:
- Setting strategic direction: Defining the organization’s vision, mission, and goals for long-term growth.
- Leading and motivating teams: Inspiring and empowering teams to perform effectively.
- Managing resources: Overseeing financial, human, and material resources for maximum efficiency and profitability. This includes financial management like budgeting and cost control. Learn more from the University of the Potomac’s Financial Aid page.
- Building relationships: Fostering strong relationships with customers, vendors, and stakeholders.
- Making key decisions: Guiding decisions related to product development, pricing, and expansion strategies.
Essential Skills for General Management
Succeeding as a general manager requires a specific set of skills and competencies.
Leadership
Leadership in general management goes beyond giving directions. It involves inspiring and motivating teams, shaping organizational culture, and fostering a positive work environment.
Communication
Effective communication is crucial for general managers. This includes clear and concise messaging, active listening, and the ability to tailor communication styles to different audiences.
Strategic Thinking
Strategic thinking involves analyzing market trends, assessing organizational strengths and weaknesses, and developing long-term plans to achieve business objectives. A good program overview can be found at your prospective university for learning more about developing your strategic thinking and leading effectively in any market or workplace environment.
Problem-Solving
General managers frequently encounter challenges. Effective problem-solving involves quickly analyzing situations, evaluating options, and implementing solutions to overcome obstacles. A degree program specializing in any type of business education helps equip you with these essential skills to understand behavioral science and how human resources and human resource management contribute to success.
Financial Acumen
Understanding financial statements, managing budgets, and making sound financial decisions are essential for general managers. Strong financial acumen contributes to organizational profitability and growth. You can take a deeper look into Darden’s employment report to understand the program prepares its students for leadership positions that generate real financial success. Understanding the net price of your prospective education is also important.
General Management in Different Industries
The role of a general manager varies across industries and company sizes. Each type of business requires a slightly different skillset and program. See the specifics below.
Startups
In startups, general managers often wear multiple hats. They are involved in a wide range of responsibilities, from product development and marketing to sales and customer service. See more insights into how an educational organization grows through a program like the History of the University of the Potomac.
Small and Medium-Sized Businesses (SMBs)
General managers in SMBs focus on driving growth and profitability. They oversee sales, marketing, operations, and often human resource departments. Graduate students are learning that it’s not merely large corporations that need to lead effectively.
Large Corporations
In large corporations, general management roles may be more specialized. General managers might focus on specific business units, such as international operations or product lines. To understand this, review career journeys like these highlighted by Darden, career journeys. Security management and systems management are two further specializations you could also take as your business education and management courses progress. Both fields cover unique business structures that many general managers find useful when working within organizations. A general manager can take many forms and their title may include any number of business program disciplines.
The Importance of Education in General Management
While experience is valuable, education plays a crucial role in developing effective general managers. It’s also important to review the privacy policy and any related copyright © before selecting your institution.
Undergraduate Programs
Undergraduate programs in general management, business administration, and related fields provide a foundational understanding of core business principles, from finance and accounting to marketing and strategic planning. There are many undergraduate majors that apply to a degree in business administration and any may prove helpful for any transfer students seeking a change of academic programs. Check out this example of a general management program. Many students go on to join an honors program to stand out from their peers. Most business programs also cover human resources, general education requirements, organizational behavior and many other fundamental topics. Your program prepares you for a long, fulfilling career of organizational and team leadership in the main content area.
Graduate Programs
Graduate programs, such as MBAs and specialized master’s degrees in management, allow aspiring general managers to hone their skills and deepen their knowledge in specific areas. An MBA program teaches students to delve deep into specific fields to explore where they would like their business career paths to progress.
Executive Education Programs
Executive education programs provide current general managers with opportunities to stay updated on industry trends, enhance their leadership capabilities, and expand their professional network. Executive education programs prepare general managers to understand what people work toward, their personal drives and motivations, and why effective business managers seek lifelong learning. A part-time MBA is just one degree option within business school. Many graduate programs cater to busy professionals through their convenient online learning setup.
FAQs
Here are answers to common general management related questions:
What is supply chain management?
Supply chain management involves the handling of the entire production flow of a good or service — starting from the raw components all the way to delivering the final product to the consumer.
What does a management analyst do?
A management analyst, sometimes called a management consultant, proposes ways to improve an organization’s efficiency. They advise managers on how to make organizations more profitable through reduced costs and increased revenues. Management analysts can offer solutions regarding organizational structure, finances and operations management.
What is resource management?
Resource management involves the strategic planning, allocating and efficient usage of resources like financial funding, personnel and equipment to effectively reach organizational goals.
What do graduate programs look for?
Each educational program has its own entrance criteria. Many MBA program prerequisites include:
- A Bachelor’s degree from an accredited undergraduate program.
- Competitive GPA.
- A minimum amount of business or general managerial experience, typically between two to five years.
- Submitting entrance essays.
- Letters of recommendation.
- Official test scores from standardized exams.
Further admissions requirements and specific selection processes will vary among degree program.
Conclusion
General management is a challenging yet rewarding field. By combining education with practical experience, aspiring general managers can develop the skills and knowledge needed to lead organizations to success. A good business education begins at undergraduate programs within university departments. For example, graduate school options at Oakland University offer numerous business programs. There are also options like the University of the Potomac or the Darden School of Business at the University of Virginia.
Whether a student becomes a business analyst or joins full-time at an organization right away after earning their business education, the path toward an exciting general management career awaits.
General management encompasses all facets of a successful career. Commitment to lifelong learning, pursuing excellence, and a proactive mindset are key to achieving and thriving in a management role. Your education prepares you to deal with and plan out many situations where leadership skills are a major plus. This entire journey requires dedicated drive and a strong desire to become an effective leader of an organization no matter the industry, size, specialization or location.
Subscribe to my LEAN 360 newsletter to learn more about startup insights.
