The role of a Commercial Manager is to identify and develop business opportunities, including new projects and contracts, managing a portfolio of commercial relationships.
A Commercial Manager will develop appropriate plans and programs to ensure the business procedures are aligned to commercial policies. They will attend contract negotiation and contract review meetings to ensure commercial and contract administration issues comply with contract requirements, company policy and procedure. They analyse financial and costing reports, highlight existing or potential problems and make recommendations as appropriate to influence decision-making. They develop and implementation continuous improvement of policies, procedures and processes. Develop financial plans to maximise business profitability, forecasting budget requirements for the short, medium and long term.
Commercial Managers in a range of industries including transport, logistics, finance, accounting and in the private and Government sector.
Althought a Commercial Manager may have set office hours, they will often work outside of regular business hours and on weekends.
In a Commercial Management role, you will most likely need a combination of practical experience, formal qualifications, sales experience, team leadership skills, business acumen and financial expertise, and perhaps knowledge of a particular industry, product or service.
If you are starting out or looking to upskill, consider courses such as;
- Formal qualifications in Business or Marketing
- Formal qualifications in Business Administration, Accounting and/or Team Leadership
- Bachelor of Applied Business (Management)
- A Bachelor’s degree in business, economics, finance, marketing, or a related field
- Expert knowledge or qualification of the industry or company you are working in
- At least five years experience in the industry or acting as a consultant on major strategic planning projects
To gain experience you may apply for positions in Sales and Marketing or progressively develop enough knowledge and experience in a particular company or industry.
- Team player
- Business administration
- Business forecasting strategies
- Commercial acumen
- Developing growth strategies
- Financial reporting
- Managing and nurturing relationships
- Risk management
- Writing and presentation
Business Development Managers have the opportunity to grow into higher-level management and specialist roles, especially if they develop detailed knowledge of a specific product, or service or the company operations. They should always demonstrate advanced problem-solving skills through the development of improved processes and procedures and long-term strategic planning. If you see yourself somewhere on this list it gives an insight into future career opportunities or an opportunity to glance back on how far you have progressed.
- Board of Directors
- Director / Managing Director
- Chief Executive Officer (CEO)
- Chief Operating Officer (COO)
- Business Developement Manager
- Vice President
- General Manager
- Operations Manager
- Strategic Planning Manager
- Commercial Manager
- Key Account Manager
- Project Manager
- Small Business Owner