Nature of work
Commercial managers oversee company needs, handle daily business issues, manage company associations, and recognize business opportunities. These managers are constantly communicating and negotiating with clients or business associates. They are also continuously working to strategically expand, preserve or improve the company’s procedures, standards or policies while sticking to business edicts and regulatory guidelines.People who work in commercial management are typically corporate managers or in charge of marketing. These departments handle the client accounts and corporate relationships that fall under a commercial manager’s portfolio.Commercial managers are required to utilise their knowledge of business law to verify, oversee or approve commercial agreements and documentation.
The responsibilities of a Commercial Manager may include:
• Assisting commercial managers
• Resolving contractual and commercial problems
• Working with contract managers
• Discovering areas that are not in keeping with regulation practices
• Offering direction and instruction
• Reviewing, scrutinizing, and developing operational process flows
• Ensuring that the financial aspects and impact of a contract are clear to all parties
• Risk assessment
• Ensuring that all stakeholders, such as administration, operations, and finance understand and adhere to contractual obligations; reflecting them accurately
• Managing daily operations
Environment of work
A Commercial manager should be ready to work very long hours. he might have to spend his evenings at work and he might even have to give up his weekends. Full-time job is his only option because a sales manager have a lot of duties and responsibilities to handle. A Commercial manager should know that this position is very stressful.Hopefully he like being on the move because his job involves a lot of traveling to national, regional, and local offices and to dealers’ and distributors’ offices.
Professional life
This is a senior role, so employers expect candidates to have between five and 10 years' experience of successful commercial management. For example, you could have spent time as a marketing manager or running a retail business. The marketing, sales and business development departments are likely to be your responsibility, so you must have experience leading large teams. Along with demonstrating management experience, you must have developed commercial strategy. Getting the job
Commercial managers should possess a first degree. Having a higher-level degree is always beneficial. Education in a commercial, financial, marketing or business related field is crucial; providing graduates with the relevant knowledge and skills for the job. Managers must have excellent computer skills as well. Skills
A commercial manager needs outstanding interpersonal and networking skills. You must be able to build and maintain effective working relationships with customers, partners, suppliers and staff. You must be computer literate and able to use customer relationship management databases. As you will have oversight of a number of different projects at different stages of development, you also need excellent project management and time management skills.Leadership qualities are essential for this role. You must be able to inspire and motivate people to drive the business forward and achieve your goals. But you must combine these qualities with strong organizational skills and, particularly, a keen eye for detail. Commercial managers are responsible for approving contracts. It is essential not to leave any loopholes through which new business or profit could escape.
Sources and references
If you need any further information on what is provided in this file, you can visit the following websites: www.iaccm.com,The International Association for Contract & Commercial Management
Arab Standard Classification of Occupations, 2008, Ed. Arab Labor Organization