The business community plays an important role in the continued economic development and growth of the nation. Within the business community, various business professionals, or businessmen, play a key role in carrying out duties that contribute to this development. Although there are many different types of business professionals and all have duties distinct to their own positions, many share a number of common duties as well.
Businessmen conduct research in their area of expertise in order to understand and find ways to aid their company in business development. Some of this work is performed by financial analysts and others designated specifically for research, but businessmen working for smaller businesses may perform much of the research on their own.
Businessmen also conduct analysis of the facts based on the research they do. This can include analysis of financial trends, profit and loss, productivity and any other area of business that might affect their company. Analysis may include taking an inventory of current resources and personnel in order to better use them or cut them loose if they are not meeting expectations.
Another common duty of the average businessman is to plan business strategy based on the findings of current research and the corresponding analysis. Planning in larger companies is often conducted in a collaborative environment where several businessmen and top executives make the major decisions on behalf of a company. The Bureau of Labor Statistics, or BLS, notes that the top business executives in a company typically implement strategies and policies that help ensure that the primary business objectives of the company have been met.
Some business professionals work in management or business administration. Business managers typically direct the actions of other employees by delegating responsibilities in various projects and business endeavors. Management professionals may be responsible for directing the financial vision of the company as mandated by top executives or a board of directors within the company.
Businessmen often take part in activities that require them to organize and coordinate efforts to make the endeavors successful. Organization can include delegating responsibility to employees who can carry out tasks or contracting the work out to other companies that specialize in the task at hand. For example, a businessman who is coordinating an important business meeting might delegate the securing of hotel meeting facilities to an employee.
Representation and Networking
Many businessmen play the role of company representative. They are the face of their company or organization and may play a key role in business development by meeting with executives from other companies to establish deals. Businessmen also represent the company in various social functions and in community business organizations. As the face of the organization, they may network with other business professionals in order to secure goods, services or relationships with other companies that they can work with for mutual benefit.