Assume responsibility for the management of a business

Adopt and assume the responsibility that entails running a business, prioritising the interest of its owners, the societal expectation, and the welfare of employees.

take responsibility for the management of a business
be accountable for the management of a business
assume responsibility for the management of businesses
assume business management responsibility
assuming responsibility for the management of a business

skill/competence

cross-sector

Assume responsibility for the management of a business is an essential skill of the following occupations:

Branch manager: Branch managers are responsible for the management of all the affairs related with a company in a specific geographic region or business branch. They receive indications from the headquarters, and depending on the structure of the company, they aim to implement the strategy of the company while adapting it to the market where the branch operates. They envision management of employees, communications, marketing efforts, and follow up to results and objectives.
Business manager: Business managers are responsible for setting the objectives of the business unit of a company, creating a plan for the operations, and facilitating the achievement of the objectives and implementation of the plan together with employees of the segment and stakeholders. They keep an overview of the business, understand detailed information of the business unit and support the department, and make decisions based on the information at hand.
Chief executive officer: Chief executive officers hold the highest ranking in a pyramidal corporate structure. They are able to hold a complete idea of the functioning of the business, its departments, risks, and stakeholders. They analyse different kinds of information and create links among them for decision-making purposes. They serve as a  communication link with the board of directors for reporting and implementation of the overall strategy.
Bank manager: Bank managers oversee the management of one or several bank activities. They set policies which promote safe banking operations, ensure the economic, social and commercial targets are met and that all the bank departments, activities and commercial policies are in compliance with legal requirements. They also manage employees and maintain an effective working relationship among the staff.
Interpretation agency manager: Interpretation agency managers oversee operations in the delivery of interpretation services. They coordinate the efforts of a team of interpreters who understand and convert spoken communication from one language to another. They ensure the quality of the service and the administration of the interpretation agency.
Translation agency manager: Translation agency managers oversee operations in the delivery of translation services. They coordinate the efforts of a team of translators who translate written material from one language to another. They ensure the quality of the service and the administration of the translation agency.
Medical practice manager: Medical practice managers manage the day-to-day operations of a medical practice. They oversee the staff and business side of the practice.
Department manager: Department managers are responsible for the operations of a certain division or department of a company. They ensure objectives and goals are reached and manage employees.

Assume responsibility for the management of a business is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

Financial manager: Financial managers handle all the matters in reference to the finance and investments of a company. They manage financial operations of companies such as the assets, liabilities, equity and cash flow aiming to maintain the financial health of the company and operative viability. Financial managers evaluate the strategic plans of the company in financial terms, maintain transparent financial operations for taxation and auditing bodies, and create the financial statements of the company at the end of the fiscal year.
Chief operating officer: Chief operating officers are the right hand and second in command of a company’s chief executive officer. They ensure that the daily operations of the company run smoothly. Chief operating officers also develop company policies, rules and goals.

References

1. Assume responsibility for the management of a business – ESCO