Commercial managers are high level professionals responsible for overseeing many different facets of a large company. In most cases, this kind of professional participates in managing risk, overseeing employee performance, negotiating contracts, and planning individual projects. Commercial managers tend to be individuals who have had years upon years of experience in a particular industry and who have demonstrated proficiency in a number of different skills. An individual who becomes a commercial manager often has exceptional communication and leadership skills.
Financial planning often is a primary function of commercial managers. A commercial manager might meet with financial managers and managerial accountants to set budgets and develop financial plans. He or she might communicate company needs to financial strategists and market researchers; in turn, they gather necessary data and perform analysis.
Contract negotiation is another important function of a commercial manager. He or she keeps track of contracts for suppliers and service providers and makes sure that all terms of contracts are followed. When a commercial manager is unhappy with services, he or she might communicate problems with managers from supplier companies and reach agreements that are beneficial to both parties.
A commercial manager must be familiar with markets related to the interests of his or her company. This kind of professional often is found in multinational companies that have business interests in a number of different countries. Commercial managers use market analysis to determine how best to sell a company's products or services in new markets and in markets where a company already has an established customer base.
Risk management also is a common function of a commercial manager. When creating financial or marketing strategies, he or she attempts to generate the highest profits while exposing a company to the most minimal degree of risk. In most cases, he or she presents findings to executives who make the final decisions regarding a company's actions.
Commercial managers engage in employee management. They participate in recruiting individuals to higher level positions. While human resources professionals might be responsible for filling entry level positions, commercial managers look for individuals who can fills roles such as financial strategist and project manager. Commercial managers might also be responsible for promoting promising employees. Training is another common function of commercial managers.
A commercial manager commonly has a support staff that he or she counts on to perform basic communication tasks. For example, staff members might send emails to colleagues and take telephone calls from clients. Staff might also prepare documents that a manager needs to make informed decisions.
