Top Business Management Skills Companies Look For

For those looking to enter the business world, a background in business management is an important asset. Professionals with a strong set of business management skills will be well-positioned to take on a variety of roles within an organization, and possess critical competencies that will help businesses of all sizes and sectors to grow.

If you're interested in pursuing a career in this thriving field, take a look at our top business management skills list to find out if you have what it takes.

15 Business Management Skills You Should Develop

Communication

Communication skills in business management are key. As a modern business professional, you'll need to be able to convey ideas, information, and intentions effectively and professionally in a variety of settings and formats, including both verbal and written communication. Being able to communicate clearly with members of your own team, as well as those in different departments, customers, and other key company stakeholders, is essential for virtually any role in the business world.

Management & Leadership

Whether or not you're in a management position, having a foundation of business management skills will position you well for future career growth and may even allow you to take on new challenges within your current role. Management and leadership skills are applicable even if you aren't managing a team of people. Management concepts include planning for, organizing, and controlling organizational resources, as well as preparing for and managing organizational change. While these might not be skills you can apply on an organizational level, you can certainly put them to use in your own work environment to practice for the future.

Financial Intelligence

As a business professional, it's important to have a grasp on financial concepts, even if you don't consider yourself a numbers person or see yourself in a role focused on finance or accounting. Financial intelligence is important regardless of what you actually do within an organization. Whether you're in sales, human resources, management, or marketing, you will need to understand finances. The ability to evaluate, analyze, and interpret financial data - and use it to inform business decisions - is critical, and will help you stand out as a competitive candidate for a multitude of roles.

Information Technology

Like financial intelligence, information technology is an important skill for today's modern business professionals, even if your job is not a technical one. Information technology is one of the most critical priorities of many organizations, and so having a foundational knowledge of the field will set you apart and help you diversify your skillset. It's important to understand that for most people, this won't require a significant amount of technical experience or expertise. Rather, for most business professionals, it will consist of the ability to interpret how information technology affects business operations, and to utilize business technologies to their advantage.

Critical Thinking & Problem-Solving

Critical thinking and problem-solving are two of the most important skills required for business management. In any business setting, regardless of your position on the organizational chart, you'll regularly face complex challenges that require thoughtful analysis and careful decision-making. You'll need to have the skills necessary for truly getting to the root of a problem and fully understanding it, by identifying, formulating, and communicating questions that guide investigation and reflection and observing patterns and creating connections that will help you come to a solution.

Creativity and Innovation

Today's business environment is one that is defined by innovation and creativity. In an increasingly competitive market, businesses are looking for new ways to capture customer attention and rise to the top of their industries. Being able to think outside the box and come up with new ways of doing things - whether it's a small-scale change to a process in your specific role, or a company-wide innovation - is a huge asset.

Negotiation

Negotiation is a key management skill that involves reaching mutually beneficial agreements through active listening, compromise, and strategic thinking. Business managers often rely on negotiation to secure favorable deals, align team efforts with company goals, and resolve conflicts effectively. Mastering this crucial skill is essential for achieving strategic decisions and fostering strong professional networks in the workplace.

Emotional Intelligence

Emotional intelligence (EI) is one of the most crucial skills needed for business management. It involves recognizing, understanding, and managing emotions—both one’s own and others’. Business managers with strong EI enhance teamwork, strengthen business skills like active listening, and support strategic thinking to align with company goals. High EI fosters a positive work culture, enabling leaders to make strategic decisions effectively.

Decision-Making

Decision-making is a key management skill that requires technical skills, financial literacy, and strategic thinking to evaluate information and select the best course of action. Business managers use this skill to make strategic decisions, allocate resources wisely, and align business strategies with company goals, ensuring long-term success.

Networking

Networking is a business skill essential for building a professional network and advancing company goals. A strong network equips business managers with insights and opportunities to meet industry leaders and strengthen their managerial skills. For those pursuing a business degree, this key management skill is critical for building partnerships and gaining visibility in the business world.

Problem-Solving

Problem-solving is a business management skill that allows managers to address challenges and identify innovative solutions. Effective problem-solving combines technical skills, active listening, and strategic thinking to meet company goals while maintaining efficiency and productivity. It is one of the most crucial skills for achieving success in the fast-paced business environment.

Conflict Management

Conflict management is a vital business skill for fostering collaboration and maintaining team harmony. This key management skill enables managers to use active listening and strategic thinking to address disputes constructively. Strong conflict management aligns company goals with employee satisfaction and ensures a productive workplace culture.

Public Speaking

Public speaking is a business management skill that helps leaders inspire teams, communicate company goals, and represent the organization effectively. It combines technical skills with strategic thinking, enabling managers to articulate ideas and build confidence. For those with a business degree, public speaking is a crucial skill for demonstrating authority and achieving success in business.

Time Management

Time management is a fundamental skill needed for business management. By combining strategic thinking with technical skills, managers can prioritize tasks, meet deadlines, and drive company goals efficiently. This key management skill is essential for business managers aiming to maintain productivity and achieve long-term success.

Empathy

Empathy is a crucial skill for fostering inclusivity, improving business skills, and building professional networks. Business managers with empathy can better align managerial skills with company goals, enhancing both employee satisfaction and customer relationships. This business management skill is indispensable for creating a supportive and effective organizational culture.
 

How to Build Business Management Skills

If the skills listed above sound like ones you have - or ones you are interested in building - then a career in business could be right for you!

While many of these skills can be learned through professional experience, and are often refined on the job, it can be beneficial to get a credential in the business management field to help you develop your foundational skillset, prove your competencies to future employers, and set yourself apart as a competitive candidate. A business management bachelor's degree is a great way to build core business acumen, as well as other key business management skills and critical soft skills, and find an area of expertise that will help deepen and differentiate your knowledge. 

Here at Champlain, our online bachelor's degree in business management offers flexibility and career-focused learning to help you find success and become a subject-matter expert in the in-demand and competitive field of business. In this program, you'll develop an understanding of core business functions in accounting, finance, economics, and marketing to address complex and systemic issues in today's ever-evolving business landscape. Additionally, you'll have the opportunity to differentiate your bachelor's degree with a specialization in one of nine different tracks including marketing, project management, supply chain, and more.

Overall, earning a degree in business management is your best means of gaining the top business management skills companies look for. Developing foundational business acumen and knowledge will help you stand out and succeed in today's competitive workforce.