Practitioners of Commercial Management are adept to various managerial positions in large and multinational companies. This is the reason why they are also the most qualified candidates for commercial manager positions available in the industry.
Commercial Managers are expected to have gained relevant knowledge in various and critical functions of contract negotiation, risk management, project management, financial management, employee management, and marketing management. As acting Commercial Manager in a certain organization, it is expected that skills and knowledge in providing practical guidance, legal and commercial planning aspects, and management role performance are emphasized and executed firmly.
Deals regarding contract and negotiation projects involved techniques and commercial awareness that need to be executed effectively to achieve favorable results and proper risk management. When it comes to planning and making decisions that involve project and commercial management, Commercial Managers should be aware of principles surrounding commercial risk management. The proper execution of such management will serve as a manifestation of their capabilities in leading the organization toward the real context of commercial management in the industry from which the organization belongs.
When it comes to strategic functions needed to be executed in specific business environment, each function should be well-defined by the manager himself to allow smooth run of the business operation. Also, as managers, they should be skilled in determining and understanding how organizational profits will be reflective of the entire organization’s operations. This way there will be implementation of a set of action under risk management to assure company earnings.
The manager gains the major responsibilities in studying the profit and loss of specific activity within an organization. The skills or acumen in making sound business decisions should always be backed-up with the right figures. Additionally, there should be a demonstration of how a manager can view the long-term results of a newly-contracted project so that future results will be identified and outlined.
In terms of managerial skills, Commercial Managers should have the ability to always spark new changes and new hopes in times of difficulties. During negotiations and project contracts, the entire organization is faced with uncertainties which every manager should manage to overcome for the sake of the entire organization. This means, as a manager, practical approaches and techniques that need to be executed at specific moment should be laid on the table for proper implementation.
As for the compensation, Commercial Managers in the United Kingdom has a salary range of £45000 to £90000 per annum including the benefits and other packages provided by the business organization. The compensation may be high but if you will closely examine the job description of Commercial Managers set by employers, you will learn that good compensation always go with more and crucial duties and responsibilities.