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Business Managers

Advancement Prospects

Most business management and top executive positions are filled by experienced lower level managers and executives who display valuable managerial traits, such as leadership, self-confidence, creativity, motivation, decisiveness, and flexibility. In small firms advancement to a higher management position may come slowly, while promotions may occur more quickly in larger firms.

Participating in different kinds of educational programs available for managers may accelerate advancement. These are often paid for by the organization. Company training programs broaden knowledge of company policy and operations. Training programs sponsored by industry and trade associations and continuing education courses in colleges and universities can familiarize managers with the latest developments in management techniques. In recent years large numbers of middle managers were laid off as companies streamlined operations. Competition for jobs is keen, and business managers committed to improving their knowledge of the field and of related disciplines—especially computer information systems—will have the best opportunities for advancement.

Business managers may advance to executive or administrative vice president. Vice presidents may advance to peak corporate positions—president or chief executive officer. Presidents and chief executive officers, upon retirement, may become members of the board of directors of one or more firms. Sometimes business managers establish their own firms.

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