What does a Principal Business Manager do?
Business managers are responsible for the development of the business management goals and objectives with an eye on changes that will ultimately lead to growth and prosperity at a company. Business managers supervise and lead the company's operations and its employees, and they are responsible for various tasks that ensure employees are both efficient and productive. They implement business strategies, evaluate overall and specific company performance, and supervise staff and employees.
Business managers design and implement plans and strategies that promote the attainment of reasonably-set company goals. They work to ensure that company resources are adequate and suitable so that activities and goals can be completed. They organize and coordinate operations that ensure productivity is efficient and the schedule remains timely. In the employee supervision role, business managers provide feedback and suggestions that improve effectiveness and efficiency. Some also represent the company at events or conventions. Business managers need a bachelor’s degree and an MBA.
- Define strategy, organize, mobilize and work the hands-on delivery.
- Develop marketing collateral (case studies, references, client quotes, etc).
- Assist with managing and growing a team of professionals, including team lead(s).
- Provide product gap and development feedback to appropriate business unit.
- Manage risk and financial performance of engagements including billing, collections, and project budgets.
- Cost proposal support for assigned programs and proposal price analysis/strategy development.
- Perform data mining for both monthly and ad hoc reporting requirements.
- Lead launch of new products to the sales force and channel.
- Collect fiscal and operational data to assist with the completion of monthly, quarterly and annual reports.
- Submit accurate and timely reports regarding expenses, activities, results, market position, and forecasts.
- Develop capture strategies for sales targets that align with practice area goals and business model.
- Maintain office staff by manage the recruitment, selection, orientation, and training of associates.
- Assist the executive director in completing the annual budget.
- Manage and assist with day to day operations.
- Maintain, modify and create oracle and SQL tables to assist reporting development.
- Focus people on key priorities and guide them to achieve their goals.
- Exercise judgment within defined procedures and practices to determine appropriate action.
- Develop and build deal structures, parameters and templates, and forms.
- Responsible for successfully hiring, leading, and managing a team of sales representatives.
- Bachelor's or Graduate's Degree in business, computer science, engineering or information systems, or equivalent experience.
- Comfortable working alone or with staff to conduct plans for a budget, business process analysis, and market segmentation.
- Is a leader and problem solver with a collaborative spirit and Demonstrable business acumen.
- Prior experience as a consultant.
- Sound judgment and decision making skills with an eye on operational excellence at all times.
- Pay strict attention to details.
Principal Business Manager Salaries
Average Base Pay
Principal Business Manager Career Path
Learn how to become a Principal Business Manager, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Average Years of Experience
Principal Business Manager Insights
“NBS is a great employer and offers the ability to really shape your career and develop”
“Cipla is a company where your actual development begins and you start your career growth in terms of promotion and salary”
“Some of the people are amazing and go above and beyond what is asked of them.”
“Management have also been absolutely amazing and have shown me nothing but amazing things ahead in my career and for the setting.”
“It is a great journey to work with top notch leaders and I greatly appreciate the initiative taken by GeBBS.”
“Abhinav Outsourcing is the best place to work and to enhancing your skills and future growth.”
“You get to work with a great collaborative team and strategize together on how to grow your clients.”
“I have been part of Zapbuild from past 1.5 years and so far its been great journey.”
Principal Business Manager Interviews
Frequently asked questions about the role and responsibilities of a Principal Business Manager
When working as a Principal Business Manager, the most common skills you will need to perform your job and for career success are Reviews, User Documentation, RFP, Key Performance Indicators and Sales Process.
- Sales Representative
- Sales Manager
- Administrative Assistant
- Customer Service Representative
The most common qualifications to become a Principal Business Manager is a minimum of a Bachelor's Degree and an average of 0 - 1 of experience not including years spent in education and/or training.