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They are involved in planning and policy making at almost every level, including both the long-term strategy and its day-to-day execution. A GM decides what products to produce, which markets to go after, and the company's general philosophy. GMs are also expected to raise money, keep a company profitable, and answer to shareholders. What You'll Do For the most part, general managers control how an organization operates. They develop corporate structures and policies, direct and coordinate employee activities, find and develop alliances with suitable business partners, raise money to grow their organizations, and make systematic changes, as needed, to keep their businesses profitable. GMs are expected to see and understand the big picture. The health of a company rests firmly on their shoulders. They develop strategies that will make their organizations successful, year after year. GMs also need to be their companies' biggest advocates. They communicate the value of their organizations to the outside world. Employees, strategic partners, shareholders, and even a company's chairperson rely on the general management team to promote the company's interests at every turn. GMs give their subordinates a reason to want to work for them. They instill a sense of pride in shareholders. General managers tell the press why people should care about their products, marketing strategy, and goals. Without their guidance a company could flounder. General managers bring a measure of order and purpose to their organizations. Small businesses and start-ups often have limited management teams. The founders, who take on the titles of CEO and president, typically lead such companies. As a company grows and departmentalizes, the general management function is divided into a family of positions. While the CEO and president remain committed to the overall mission of the organization, other positions have more specialized responsibilities. Some examples are the chief operations officer (COO), chief financial officer (CFO), chief technical officer (CTO), and general manager (GM). Underneath them are department heads who run specific areas of an organization, such as marketing or human resources. They in turn hire and oversee managers who handle the day-to-day supervision of lower-level employees. In this way, larger corporations have developed a well-defined chain of command. Lower-level employees answer to operational managers, who oversee their daily work. Many firms have several layers of frontline and middle managers. Such supervisors are responsible for managing the functions of an organization. They set project goals, make hiring decisions, settle staff disputes, and ensure that deadlines are met. Operational managers report to department heads who set policy and determine the goals of their divisions. Department heads answer to the executive officer who controls their area of specialty. For example, the heads of Web development and information technology answer to the CTO. Executive officers work together to set the goals and policies of a corporation. Their work is overseen by the general manager or president, who supervises the entire organization. Above them is the CEO, the highest-ranking manager. The CEO is held accountable for all aspects of the business. However, the CEO still has to answer to the board of directors. In publicly held corporations, the board is ultimately responsible for the success of an organization. Members of the board have a fiduciary responsibility to look after the stockholders' (owners') interests first and foremost. If the company begins to falter, they have the right and the duty to correct the situation using any means possible, up to and including firing the CEO or any other top executive. In some cases, the board takes control of all managerial functions until a business has stabilized. Who Does Well GMs can be found in every industry and organization, from publicly held companies to non-profits and governmental agencies. Before entering management, GMs should have first proven themselves in their core industries. Usually they work for a while as operations managers, then slowly work their way up the corporate ladder. GMs can expect to be in the spotlight most of the time. Every decision they make and every policy they set is subject to scrutiny by those around them. There will be no place to hide. CEOs and presidents of large organizations are the stars of the corporate world. They receive almost as much attention and scrutiny as Hollywood movie stars. The trade press follows a GM's every move closely. Employees and shareholders want to know the GMís vision for the company, their management style, and how much money they made last year. As long as profits are up, they can do no wrong. But even a slight blip in the markets can change public perception. They are often the first to be let go. However, the public dismissal of a GM will be padded by a large settlement offer and the GM's equity in the companyóthe so-called "golden parachute." « Return to Previous Page Career Content ©2003 The Employment Channel		What is more important? • Health • Happiness • Money MO Power Ball:  11, 22, 26, 37, 51, Powerball: 21, Power Play: 5 IL Mega Millions:  4, 23, 33, 38, 49, Mega: 7 results posted by 9am following day Saint Louis, MO Sunny 71°F MORE→
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