Business management jobs are in high demand across the nation. Enterprises and public-sector organizations need capable professionals who can direct operations, develop business strategies, and motivate staff.
The Bureau of Labor Statistics projects that many management-related career paths will experience outstanding growth rates over the next decade. The table below details popular business management job paths and their median earnings.
An actuary is a business professional who uses advanced math and statistical methods to assess the financial risk of a company. These professionals are responsible for pricing financial products, such as insurance policies and pension plans, and making recommendations to businesses on how to minimize the risks involved in their operations.
Actuaries may work for a wide variety of businesses. They use their knowledge of statistics and mathematics to evaluate the financial risk of a new product launch or how much to charge for a service. They also provide advice to their clients on how to manage financial risks and make sound decisions regarding investments and retirement planning.
A business analyst works in a company to improve its processes and systems. They collect data, review reports, and suggest changes to management.
These business analysts have to understand their clients’ businesses and needs fully before they begin any project. This helps them deliver the best possible solution to their clients.
They are also expected to document the entire process of a project and share it with the client for a better understanding. This ensures that they have clear knowledge on what was done and how it was performed to provide value to the client.
Most companies prefer business analysts to have at least a bachelor’s degree in business or a related field. A master’s degree or certification in business analysis is also helpful for career advancement.
The role of an executive is to create and manage plans that help an organization grow and develop. This position requires strong problem-solving skills, decision-making abilities, great communication with employees, and impressive leadership abilities.
As an executive, you can work for companies or government agencies. The nature of your job depends on the type of organization you work in, but your responsibilities generally include leading a team and using business management knowledge to analyze reports and think of ways to improve your company’s economic standing.
Executives may also be responsible for negotiating contracts with outside agencies and cutting costs, if necessary. They must have good persuasion skills to ensure that their company’s budget remains as healthy as possible.
A retail manager is responsible for managing a team of sales associates. They also monitor inventory levels and set sales goals to improve a store’s performance.
In addition, these professionals are responsible for delivering a positive shopping experience to customers. They may answer customer questions or assist them with returned merchandise.
They also keep accurate records of inventory and order new products when needed. They also ensure that cash registers are counted down and money received is deposited in the bank.
They work long hours, often six days a week and as many as 60 hours a week during busy periods such as the Christmas season. Their ability to stay focused, inspire their staff and get the job done despite the stress helps them be successful in their position.
If you want to make a difference in your community, consider getting a job as a public servant. These professionals work in local, state and federal governments as well as in nonprofit organizations that serve their communities.
Among the most common types of public service jobs include social workers, fire fighters, police officers and health care providers. These positions protect people’s lives and preserve the quality of life in local communities.
As a public service professional, you’ll need to be compassionate and empathetic. This is especially true if you work in a position that deals with clients who are dealing with difficult or challenging situations, such as a social worker or counselor.
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