Jump to content

General manager: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous edit
Content deleted Content added
VisualWikitext
No edit summary
Tags: Visual edit Mobile edit Mobile web edit
 
(51 intermediate revisions by 40 users not shown)
Line 1: Line 1:
{{short description|Oversees a firm's day-to-day business operations}}
{{more citations needed|date=February 2017}}
{{more citations needed|date=February 2017}}

A '''general manager''' or GM 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 (P&L) responsibility. A general manager usually oversees most or all of the firm's [[marketing]] and [[sales]] functions as well as the day-to-day [[Business operations|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 (Sayles 1979).<ref>{{cite book|last=Sayles|first=Leonard|title=Leadership|year=1979|publisher=McGraw-Hill, Inc|location=New York|isbn=0-07-055012-3|page=6}}</ref>
A '''general manager''' ('''GM''') 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 (P&L) 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.<ref>{{cite book|last=Sayles|first=Leonard|title=Leadership|url=https://archive.org/details/leadershipwhatef00sayl|url-access=registration|year=1979|publisher=McGraw-Hill, Inc|location=New York|isbn=0-07-055012-3|page=[https://archive.org/details/leadershipwhatef00sayl/page/6 6]}}</ref>


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 (corporate title)|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 managing director, regional vice president, country manager, product manager, branch manager, or segment manager may also have general management responsibilities. In large companies, many vice presidents will have the title of general manager when they have the full set of responsibility for the function in that particular area of the business and are often titled [[vice president]] and general manager.
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 (corporate title)|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 managing director, regional vice president, country manager, product manager, branch manager, or segment manager may also have general management responsibilities. In large companies, many vice presidents will have the title of general manager when they have the full set of responsibility for the function in that particular area of the business and are often titled [[vice president]] and general manager.


In technology companies, general managers are often given the title of [[product manager]]. 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 [[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.


==Industry-specific usages==
==Industry-specific usages==
Line 10: Line 12:
===Hotels===
===Hotels===
{{Main article|Hotel manager}}
{{Main article|Hotel manager}}
In the hotel industry, the general manager is the head executive responsible for the overall operation of an individual hotel establishment including financial profitability. The general manager holds ultimate managerial authority over the hotel operation and usually reports directly to a regional vice president, corporate office, and/or hotel ownership/investors. Common duties of a general manager include but are not limited to [[Recruitment|hiring]] and [[management]] of an executive team consisting of individual department heads that oversee various hotel departments and functions, [[budgeting]] and [[financial management]], creating and enforcing hotel business objectives and goals, [[sales management]], [[marketing management]], [[revenue management]], [[project management]], [[contract management]], handling of emergencies and other major issues involving guests, employees, or the facility, [[public relations]], [[labor relations]], local government relations, maintaining business partnerships, and many additional duties. The extent of duties of an individual hotel general manager vary significantly depending on the size of the hotel and company organization, for example, general managers of smaller boutique-type hotels may be directly responsible for additional administrative duties such as accounting, human resources, payroll, purchasing, and other duties that would normally be handled by other subordinate managers or entire departments and divisions in a larger hotel operation.
In the hotel industry, the general manager is the head executive responsible for the overall operation of an individual hotel establishment including financial profitability. The general manager holds ultimate managerial authority over the hotel operation and usually reports directly to a regional vice president, corporate office, and/or hotel ownership/investors.
Some of the common duties of a general manager include are [[recruitment|hiring]] and the [[management]] of an executive team, which consists of individual department heads, who oversee various hotel departments and functions, [[budgeting]] and [[financial management]]; creating and enforcing hotel business objectives and goals; [[sales management]]; [[marketing management]]; [[revenue management]]; [[project management]]; [[contract management]]; handling of emergencies and other major issues involving guests, employees, or the facility; [[public relations]]; [[labor relations]]; local government relations; and maintaining business partnerships.
The extent of duties of an individual hotel general manager vary significantly depending on the size of the hotel and company organization; for example, general managers of smaller boutique-type hotels may be directly responsible for additional administrative duties such as accounting, human resources, payroll, purchasing, and other duties that would normally be handled by other subordinate managers or entire departments and divisions in a larger hotel operation.


===Sports teams===
===Sports teams===
Line 18: Line 24:
For many years in U.S. professional sports, [[Coach (sport)|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.
For many years in U.S. professional sports, [[Coach (sport)|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 [[sports agent|agent]]s to negotiate contracts on their behalf. This intensified contract negotiations that resulted, as well 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.
As the amount of money involved in professional sports increased, many prominent players began to hire [[sports agent|agent]]s to negotiate contracts on their behalf. This intensified contract negotiations to ensure that player contracts are in accordance with salary caps, as well as being consistent with the desires of the team's ownership and its ability to pay.


General Managers are usually responsible for the selection of players in player [[sports draft|drafts]] and work with the coaching staff and [[scout (sport)|scouts]] to build a strong team. In sports with developmental or [[minor league]]s, 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.
General Managers are usually responsible for the selection of players in player [[sports draft|drafts]] and work with the coaching staff and [[scout (sport)|scouts]] to build a strong team. In sports with developmental or [[minor league]]s, 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.
Line 30: Line 36:
*[[Hotel management]]
*[[Hotel management]]
*[[Hospitality management studies]]
*[[Hospitality management studies]]
*[[General Manager (restaurant general)]]
*[[Managing Director]]
*[[Managing Director]]
*[[List of 2009 all-decade Sports Illustrated awards and honors#Top 10 GMs/Executives of the Decade|''Sports Illustrated'' Top 10 GMs/Executives of the Decade]] (in all sports) (2009)
*[[List of 2009 all-decade Sports Illustrated awards and honors#Top 10 GMs/Executives of the Decade|''Sports Illustrated'' Top 10 GMs/Executives of the Decade]] (in all sports) (2009)
*[[The Sporting News Executive of the Year Award|''Sporting News'' Executive of the Year]] (MLB)
*[[The Sporting News Executive of the Year Award|''Sporting News'' Executive of the Year]] (MLB)
*[[Sporting News NFL Executive of the Year Award]] (NFL)
*[[NBA Executive of the Year Award]]
*[[NBA Executive of the Year Award]]
*[[NHL General Manager of the Year Award]]
*[[Jim Gregory General Manager of the Year Award]] (NHL)
*[[National Lacrosse League GM of the Year Award]]
*[[National Lacrosse League GM of the Year Award]]


==References==
==References==
{{wikiquote|manager}}
{{reflist}}
{{reflist}}


{{MLBGenManager}}
{{NBAgeneralmanagers}}
{{NFLGMs}}
{{NHL general managers by team}}
{{Corporate titles}}
{{Corporate titles}}
{{Sport}}
{{tourism}}
{{tourism}}


{{DEFAULTSORT:General Manager}}
{{DEFAULTSORT:General Manager}}
[[Category:Management occupations]]
[[Category:Management occupations]]
[[Category:Managers]]

Latest revision as of 23:41, 20 December 2024

A general manager (GM) 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 (P&L) 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.[1]

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 managing director, regional vice president, country manager, product manager, branch manager, or segment manager may also have general management responsibilities. In large companies, many vice presidents will have the title of general manager when they have the full set of responsibility for the function in that particular area of the business and are often titled vice president and general manager.

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.

Industry-specific usages

[edit]

Hotels

[edit]
Main article: Hotel manager

In the hotel industry, the general manager is the head executive responsible for the overall operation of an individual hotel establishment including financial profitability. The general manager holds ultimate managerial authority over the hotel operation and usually reports directly to a regional vice president, corporate office, and/or hotel ownership/investors.

Some of the common duties of a general manager include are hiring and the management of an executive team, which consists of individual department heads, who oversee various hotel departments and functions, budgeting and financial management; creating and enforcing hotel business objectives and goals; sales management; marketing management; revenue management; project management; contract management; handling of emergencies and other major issues involving guests, employees, or the facility; public relations; labor relations; local government relations; and maintaining business partnerships.

The extent of duties of an individual hotel general manager vary significantly depending on the size of the hotel and company organization; for example, general managers of smaller boutique-type hotels may be directly responsible for additional administrative duties such as accounting, human resources, payroll, purchasing, and other duties that would normally be handled by other subordinate managers or entire departments and divisions in a larger hotel operation.

Sports teams

[edit]
See also: General manager (American football), General manager (baseball), General manager (basketball), List of National Hockey League general managers, and Sports management

In most professional sports, the general manager is the 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 and firing the head coach of the team.

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. This intensified contract negotiations to ensure that player contracts are in accordance with salary caps, as well as being consistent with the desires of the team's ownership and its ability to pay.

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.

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 football, 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.

See also

[edit]

References

[edit]
Wikiquote has quotations related to manager.
  1. ^ Sayles, Leonard (1979). Leadership. New York: McGraw-Hill, Inc. p. 6. ISBN 0-07-055012-3.
Retrieved from "https://en.wikipedia.org/enwiki/w/index.php?title=General_manager&oldid=1264185562"