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Encyclopedia > General manager

The term general manager is a descriptive term for certain executives in a business operation. It is also a formal title held by some business executives, although the duties of the general manager role vary by industry. Wall Street, Manhattan is the location of the New York Stock Exchange and is often used as a symbol for the world of business. ...

Contents

Generic usage

Most commonly, the term general manager refers to any executive who has overall responsibility for managing both the revenue and cost elements of a company's income statement. This is often referred to as Profit & Loss (P&L) responsibility. This means that general managers usually oversee 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 also responsible for leading or coordinating the strategic planning functions of the company. Revenue is a U.S. business term for the amount of money that a company earns from its activities in a given period, mostly from sales of products and/or services to customers. ... In economics, business, and accounting, a cost is the value of inputs that have been used up to produce something, and hence are not available for use anymore. ... Income statements is a financial statement for companies that indicates how net revenue (money received from the sale of products and services before expenses are taken out, also known as the top line) is transformed into net income (the result after all revenues and expenses have been accounted for, also... Wikibooks has more about this subject: Marketing Look up marketing in Wiktionary, the free dictionary. ... Sales, or the activity of selling, forms an integral part of commercial activity. ... Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. ... Strategic planning is an organizations process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. ...


In many cases, the general manager of a business is given a different formal title or titles. Most corporate managers holding the titles of Chief Executive Officer (CEO) or President, for example, are the general managers of their respective businesses. More rarely, the Chief Financial Officer (CFO), Chief Operating Officer (COO), or Chief Marketing Officer (CMO) will act as the general manager of the business. Depending on the company, individuals with the title Regional Vice President, Country Manager, Product Manager or Segment Manager may also have general management responsibilities. A Chief Executive Officer (CEO), or Chief Executive, is the highest-ranking corporate officer, administrator, corporate administrator, executive, or executive officer, in charge of total management of a corporation, company, organization or agency. ... Most of this article is about heads of state. ... The Chief Financial Officer (CFO) of a company or public agency is the corporate officer primarily responsible for managing the financial risks of the business or agency. ... A Chief Operating Officer (COO) is a corporate officer responsible for managing the day-to-day activities of the corporation. ... The Chief Marketing Officer, or CMO, is a job title for an executive responsible for various marketing-related activities within an organization. ...


In consumer products companies, general managers are often given the title Brand Manager or Category Manager. In professional services firms, the general manager may hold titles such as Managing Partner, Senior Partner, or Managing Director. In marketing, a product is anything that can be offered to a market that might satisfy a want or need. ... The discipline of brand management was started at Procter & Gamble PLC as a result of a famous memo by Neil H. McElroy. ... Professional Services are infrequent, technical, or unique functions performed by independent contractors or consultant whose occupation is the rendering of such services. ...


In non-profit enterprises, the general manager is often given the title Executive Director. A non-profit organization (often called non-profit org or simply non-profit or not-for-profit) can be seen as an organization that doesnt have a goal to make a profit. ...


Industry-specific usages

Hotels

In the hotel industry, the General Manager is the head of hotel operations. He or she oversees the entire operation including the Executive committee. The Executive committee consistsof the food & beverage Director, Executive Housekeeper, Chief Engineering. and Director of Sales & marketmaintenance and repairs, and sales and marketing. The 'GM' typically works long hours and often has significant industry experience. He or she is supported by other managers, such as the Director of sales, Chief engineer, executive housekeeper and sometimes, in larger or busier facilities, an assistant general manager. Dariush Grand Hotel,Kish island, Iran The 4-star Manor House Hotel at Castle Combe, Wiltshire, England. ... The word drink is primarily a verb, meaning to ingest liquids, see Drinking. ... Maintenance, Repair and Operations or Maintenance, Repair and Overhaul (MRO), is fixing any sort of mechanical or electrical device should it get out of order or broken (repair) as well as performing the routine actions which keep the device in working order (maintenance) or prevent trouble from arising (preventive maintenance). ... Repair and Maintenance is fixing any sort of mechanical or electrical device should it get out of order or broken (repair) as well as performing the routine actions which keep the device in working order (maintenance) or prevent trouble from arising (preventive maintenance). ... Sale is the name of several places: Sale, Victoria, Australia Sale, Greater Manchester, England Sale, Italy (pronunciation: SAH-leh) - in the province of Alessandria Salè, Morocco Sale Marasino (first pronunciation: SAH-leh), an Italian commune in the province of Brescia Sale is also a type of contract for the exchange... Wikibooks has more about this subject: Marketing Look up marketing in Wiktionary, the free dictionary. ...


A Hotel GM handles the budget, forecasting, payroll, accounting (payables and receivables) and often coordinates with corporate management and or property owners on strategic planning for the hotel. Look up budget in Wiktionary, the free dictionary. ... Please wikify (format) this article or section as suggested in the Guide to layout and the Manual of Style. ... It has been suggested that Accounting scholarship be merged into this article or section. ... Management (from Old French ménagement the art of conducting, directing, from Latin manu agere to lead by the hand) characterises the process of leading and directing all or part of an organization, often a business, through the deployment and manipulation of resources (human, financial, material, intellectual or intangible). ...


Retail stores

Main article: Store manager

The title of General Manager in the context of retail establishments often refers to the top manager of a given store. The general manager has the ultimate operational authority for the store and manages the outlet's budget and personnel. Product management, including ordering, receiving, price changes, and handling damaged product. ... Drawing of a self-service store. ...


Sports teams

In most professional sports, the General Manager is a team executive responsible for acquiring the rights to player personnel, negotiating their contracts and reassigning or dismissing players no longer desired on the team. The general manager may also have responsibility for hiring the head coach of the team. In professional sports, athletes receive payment for their performance, as opposed to amateur sports and college sports where they do not. ... A contract is any promise or set of promises made by one party to another for the breach of which the law provides a remedy. ... In sports, a coach or manager is an individual involved in the direction and instruction of the on-field operations of an athletic team or of individual athletes. ...


For many years in U.S. professional sports, coaches often served as general managers for their teams as well, deciding which players would be kept on the team and which ones dismissed, and even negotiating the terms of their contracts in cooperation with the ownership of the team. In fact, many sports teams in the early years of U.S. professional sports were coached by the owner of the team, so in some cases the same individual served as owner, general manager and head coach.


As the amount of money involved in professional sports increased, many prominent players began to hire agents to negotiate contracts on their behalf. The intensified contract negotiations that resulted and the overall increased need for professional business management drove many sports teams to separate the positions of coach and general manager. Some coaches, however, still insist on being allowed to fill both positions as a condition of employment. A sports agent is a person who procures and negotiates employment and endorsement deals for an athlete. ...


In some sports leagues salary caps have been adopted to maintain a competitive balance and in these leagues it is one of the functions of the general manager to ensure all player contracts are in accordance with these caps, as well as consistent with the desires of the ownership and its ability to pay. In sports, a salary cap is a limit on the amount of money a team can spend on player salaries, either as a per-player limit or a total limit for the teams roster (or both). ...


General managers are usually responsible for the selection of players in player drafts and work with the coaching staff and scouts to build a strong team. In sports with developmental or minor leagues, the general manager is usually the team executive with the overall responsibility for "sending down" and "calling up" players to and from these leagues, although the head coach may also have significant input into these decisions. A (sports) draft is a process by which professional sports teams select players not contracted to any team, often from colleges or amateur ranks. ... Professional sports scouts are trained talent evaluators who travel extensively for the purposes of watching athletes play their chosen sports and determining whether their set of skills and talents represent what is needed by the scouts organization. ... Minor leagues in the sense intended in this article are professional sports leagues which are not regarded as the premier leagues in those sports. ...


Some of the most successful sports general managers have been former players and coaches, while others have backgrounds in ownership and business management.


The term is not commonly used in Europe, especially in soccer, where the position of manager or coach is used instead to refer to the managing/coaching position. The position of director of football might be the most similar position on many European football clubs. Football (soccer) - Wikipedia, the free encyclopedia /**/ @import /skins-1. ... Director of Football is a term describing a senior management figure at a football club, most commonly used in Europe. ... Football is a ball game played between two teams of eleven players, each attempting to win by scoring more goals than their opponent. ...


See also


  Results from FactBites:
 
general manager - definition of general manager in Encyclopedia (291 words)
The general manager in the sense contemplated in this article is the executive of a professional sports team responsible primarily for acquiring the rights to player personnel, negotiation of their contracts and reassignment or dismissal of players no longer desired on the team.
General managers became more specialized as the increasing money invovled in sports led most prominent players to hire agents to negotiate contracts on their behalf in exchange for commissions.
General managers are usually responsible for the selection of players in player drafts, and are often in constant conversation with the coaching staff and with scouts with regard to players needed or wanted.
  More results at FactBites »

 
 

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