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General Manager

Definition

A General Manager is an executive who has overall responsibility for managing both the revenue and cost elements of a company's income statement, known as profit & loss responsibility. A General Manager usually oversees most or all of the firm's marketing and sales functions as well as the day-to-day operations of the business. Frequently, the General Manager is responsible for effective planning, delegating, coordinating, staffing, organizing, and decision making to attain desirable profit making results for an organization.

What is a 'General Manager'

A general manager is the person in charge of a department within a company, but in small companies, the general manager may be one of the top executives. General managers commonly rank above most employees but below corporate-level executives. The responsibility and importance associated with the position varies from company to company depending on the structure of the company's corporate ladder.

Explaining 'General Manager'

A general manager usually obtains experience in a lower-level management position before being hired as or promoted to general manager. General managers can advance by moving into top executive positions or to larger and more prestigious companies. They must have a thorough understanding of their departments or company's operations, be skilled at managing and leading the employees they supervise, and make sound decisions for the company.

Job Description

Overall, the general manager supervises lower-level managers. These lower-level managers may be in charge of several smaller divisions. The general manager gives specific direction for each department head. As part of this supervision, a general manager hires, trains, coaches and disciplines lower-level managers. This employee sets incentives for workers, appraises the efficiency of departments and creates strategic plans for the business based on company goals.

Statistics

According to the U.S. Bureau of Labor Statistics, as of May 2015, the average salary for a general manager was $119,460. More than 2.1 million people held this type of job during 2014. More than 88,000 general managers oversee entire companies. A full 56,000 general managers supervise some type of consulting firm, while more than 70,000 of these individuals oversee restaurants.


Further Reading


An Empirical Research on the General Manager Overconfidence and Investment Decision for the Listed Companies [J]
en.cnki.com.cn [[J]' href='https:/api.miniature.io/pdf?url=en.cnki.com.cn%2FArticle_en%2FCJFDTotal-ZGGK200505025.htm'>PDF]
… China;2.Beijing Sport University,Beijing 100084,China);The General Effect of … Study on Effect Mechanism of Overconfidence on the Firm Manager's Promotion[A … 9, JIANG Wei(Accounting Department, Jinan University, Guangzhou 510632);Managerial Overconfidence,Financing …

The teaching of strategy: from general manager to analyst and back again?The teaching of strategy: from general manager to analyst and back again?
journals.sagepub.com [PDF]
… China;2.Beijing Sport University,Beijing 100084,China);The General Effect of … Study on Effect Mechanism of Overconfidence on the Firm Manager's Promotion[A … 9, JIANG Wei(Accounting Department, Jinan University, Guangzhou 510632);Managerial Overconfidence,Financing …

A Study on the Listed Companies' General Manager Turnover, Top Management Team Recomposition and Firm Performance Improvement <span style=[J]' src='/thumbnails/?img=http%3A%2F%2Fen.cnki.com.cn%2FArticle_en%2FCJFDTotal-LKGP200704017.htm' />A Study on the Listed Companies' General Manager Turnover, Top Management Team Recomposition and Firm Performance Improvement [J]
en.cnki.com.cn [[J]' href='https:/api.miniature.io/pdf?url=en.cnki.com.cn%2FArticle_en%2FCJFDTotal-LKGP200704017.htm'>PDF]
… China;2.Beijing Sport University,Beijing 100084,China);The General Effect of … Study on Effect Mechanism of Overconfidence on the Firm Manager's Promotion[A … 9, JIANG Wei(Accounting Department, Jinan University, Guangzhou 510632);Managerial Overconfidence,Financing …

Managerial competency modeling: a structural equation testingManagerial competency modeling: a structural equation testing
en.cnki.com.cn [PDF]
… China;2.Beijing Sport University,Beijing 100084,China);The General Effect of … Study on Effect Mechanism of Overconfidence on the Firm Manager's Promotion[A … 9, JIANG Wei(Accounting Department, Jinan University, Guangzhou 510632);Managerial Overconfidence,Financing …

Rational herding in financial economicsRational herding in financial economics
www.sciencedirect.com [PDF]
… China;2.Beijing Sport University,Beijing 100084,China);The General Effect of … Study on Effect Mechanism of Overconfidence on the Firm Manager's Promotion[A … 9, JIANG Wei(Accounting Department, Jinan University, Guangzhou 510632);Managerial Overconfidence,Financing …

Specific and general knowledge, and organizational structureSpecific and general knowledge, and organizational structure
onlinelibrary.wiley.com [PDF]
… China;2.Beijing Sport University,Beijing 100084,China);The General Effect of … Study on Effect Mechanism of Overconfidence on the Firm Manager's Promotion[A … 9, JIANG Wei(Accounting Department, Jinan University, Guangzhou 510632);Managerial Overconfidence,Financing …

The impact of math background on performance in managerial economics and basic finance coursesThe impact of math background on performance in managerial economics and basic finance courses
www.jstor.org [PDF]
… China;2.Beijing Sport University,Beijing 100084,China);The General Effect of … Study on Effect Mechanism of Overconfidence on the Firm Manager's Promotion[A … 9, JIANG Wei(Accounting Department, Jinan University, Guangzhou 510632);Managerial Overconfidence,Financing …


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