General Manager and Top Executive
General Managers and Top Executives hold pivotal roles within organizations, responsible for making strategic decisions that ensure effective operations and profitability. These senior leaders are accountable to the owners and stakeholders for the organization's overall performance. Typically, they possess a bachelor's degree, often supplemented by a master's degree in business administration, and usually have at least five years of relevant work experience. Their roles require strong analytical skills, leadership capabilities, and a comprehensive understanding of the competitive landscape, market opportunities, and resource management.
Working primarily in office environments, General Managers and Top Executives often collaborate closely with senior staff across various departments, engaging in activities such as budget discussions, sales forecasts, and special projects. They may also travel frequently, especially if their organization operates on a national or multinational scale. This profession demands long hours, often exceeding sixty per week, and entails a high level of responsibility, which can lead to stress. Successful individuals in this field combine technical expertise with advanced communication skills, enabling them to navigate complex organizational dynamics effectively.
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Subject Terms
General Manager and Top Executive
Snapshot
Career Cluster(s): Business, Management & Administration, Government & Public Administration
Interests: Having a lot of responsibility, working long hours, running an organization, communicating with others
Earnings (Yearly Median): $103,840 per year $49.92 per hour
Employment & Outlook: 3% (As fast as average)
Entry-Level Education Bachelor's degree
Related Work Experience 5 years or more
On-the-job Training None
Overview
Sphere of Work. General managers and top executives are responsible for making strategic business decisions to ensure that their organizations run smoothly and profitably. They occupy the very top tier of management and, as such, bear the ultimate responsibility to the owners and stakeholders for the organization’s performance. Highly compensated, they are expected to provide a corresponding level of leadership and direction to other senior executives and managers, as well as to formulate and communicate high-level policy. General managers and top executives in private enterprises may be known by more specific job titles, such as president, chief executive officer, or director. In the non-profit and government sectors, they may have job titles such as agency director, chief, or superintendent.
Work Environment. General managers and top executives usually spend most of their work day in office environments. Typically, they have their own office or suite of offices close to other members of the organization’s executive management team. General managers and top executives can expect to spend a considerable amount of time traveling away from home, especially if their organization is national or multinational. They are frequently expected to put in as many hours as required to fulfill their duties. As a result, many top executives work sixty or more hours a week, including evenings, weekends, and holidays.
Occupation Interest. This occupation suits people who combine technical knowledge and abilities relevant to the industry they work in with sophisticated business and leadership skills and the desire and commitment needed to effectively run an organization. They must have the experience, foresight, and ability to develop an organization’s strategic direction by considering the competitive environment, market opportunities and challenges, micro- and macroeconomics, sociopolitical factors, resource requirements, and operations. Strong analytical abilities and the capacity to set goals for short- and long-term planning are a must in this profession. This job usually requires long hours and a level of responsibility that may cause stress.
A Day in the Life—Duties and Responsibilities. A top executive’s day may be dedicated to dealing with one issue or a wide variety of issues. It is likely, however, that a significant proportion of the day will be spent communicating with others, either one-on-one or in group meetings. The general manager is likely to schedule regular meetings with key staff and committees about issues such as budgets, financial results, sales forecasts, and special projects. He or she will meet regularly with the key staff who report to them. This may include, for example, the chief financial officer, human resources director, operations director, sales and marketing directors, and any other key staff. The general manager is likely to delegate duties as needed to his or her support staff, as well as task them with special projects, research, and analysis. Individuals in this position are additionally responsible for developing lower-level employees into future managers.
The organization’s top executives may also be involved at a strategic level in special projects and initiatives. Depending on the type of organization, this may include, for example, crisis and reputation management, new product development and launches, mergers and acquisitions, site openings and closures, strategic operational and logistic changes, and policy development.
The general manager is responsible for reporting to the company’s board of directors, owners, and investors. In the case of publicly listed companies, this includes shareholders. The general manager is responsible for ensuring that the company fulfills its legal and fiduciary responsibilities. In doing so, the general manager makes a personal guarantee to the company’s board and shareholders that the information provided in official legal and financial reports is accurate and reliable.
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Work Environment
Immediate Physical Environment. General managers and top executives usually work from their own office, which tends to be pleasant and well-appointed. The general manager’s physical environment will be influenced by the size and type of employer and the industry in which they operate.
Human Environment. This role involves a great amount of interaction with others. General managers and top executives must possess advanced oral and written communication skills, including the ability to collaborate, negotiate, and resolve conflict. They must be able to conduct themselves with diplomacy and tact and interact confidently with powerful people.
Technological Environment. Daily operations may demand the use of standard office technologies, including computers, telephones, e-mail, photocopiers, and the Internet. General managers and top executives are supported by an executive secretary or administrative team who completes much of the more routine paperwork and requests. The technology used by someone in this position can vary depending on the industry the organization occupies.
Education, Training, and Advancement
High School/Secondary. High school students can best prepare for a career as a general manager and top executive by taking courses in applied communication subjects such as business writing as well as computer science. Foreign languages may also be beneficial. Courses that develop general business skills may include accounting, entrepreneurship, bookkeeping, business management, and applied mathematics. Administrative skills may be developed by taking subjects such as business computing and typing. Becoming involved in part-time administrative or clerical work after school or during the weekends builds people skills and is a helpful way to begin learning about business operations and management. Leadership experience can be developed through taking part in extracurricular activities.
Postsecondary. In keeping with the level of responsibility of the position, most employers expect their general managers and top executives to possess postsecondary qualifications. The minimum requirement is considered to be a bachelor’s degree in business or another relevant field. A master’s degree in business administration is sometimes, but not always, considered to be a requirement. Because this position is extremely results-oriented, some individuals earn more advanced degrees, while others advance as a result of proving their abilities through on-the-job experience. In 2022, median tenure of chief executive officers of S&P 500 companies was 4.8 years.
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Bibliography
Chen, Joyce. "CEO Tenure Rates." Harvard Law School Forum on Corporate Governance, 4 Aug. 2023, corpgov.law.harvard.edu/2023/08/04/ceo-tenure-rates-2/. Accessed 22 Aug. 2024.
“Top Executives.” Occupational Outlook Handbook, Bureau of Labor Statistics, US Dept of Labor, 17 Apr. 2024, www.bls.gov/ooh/management/top-executives.htm. Accessed 22 Aug. 2024.
“Occupational Employment and Wages, May 2023: 11-1011 Chief Executives.” Occupational Employment Statistics, Bureau of Labor Statistics, US Dept of Labor, 3 Apr. 2024, www.bls.gov/oes/current/oes111011.htm. Accessed 22 Aug. 2024.