A business unit manager oversees a business unit within their organization. They are responsible for preparing a budget, as well as overseeing the creation and preparation of market reports. These reports are used by the manager and the organization at large to determine what resources are needed, how those resources need to be allocated, and how to track expenditures. The business unit manager also works to develop policies, goals, and tactics to achieve the fiscal goals of the business. Because they are responsible for these tasks, the business unit manager must also continually provides oversight to ensure that business plans and budgets are followed; they are also generally authorized to take corrective action if there is deviation from expectations or standards.
Aside from high-level decision making, the business unit manager is also responsible for overseeing the work force of their subordinates. They must cultivate a motivated team that is adequately staffed and properly trained. The business unit manager establish goals for individual team members, defines their functions, and establishes the parameters for performance evaluation. They are responsible for providing feedback and review to team members and providing corrective action for poor-performing individuals; this may ultimately include terminating employees.
The business unit manager is also for expanding their unit's market, in part by networking with appropriate members of the industry. Many business unit managers participate in the organization of industry or trade associations; strong industrial ties and connections are created and maintained through the faithful participation in the trade organizations.
Previous experience as a lower-level member of a business unit is generally required in this position. Prior managerial experience may also be preferred, as may be industry-specific experience.