Manage profitability

Review on a regular basis sales and profit performance.

managing profitability
oversee profitability
profitability management
management of profitability
supervise profitability
maintain profitability
regulate profitability

skill/competence

cross-sector

Manage profitability is an essential skill of the following occupations:

Chief marketing officer: Chief marketing officers manage the high level marketing operations in a company. They coordinate all the efforts related to the marketing, promotional, and advertising activities across units or geographical areas. They make sure that different activities aimed at creating awareness of products are profitable for the company. They take decisions and prepare reports on marketing projects and the costs they entail.
Online community manager: Online community managers provide and maintain an interactive environment facilitated by applications such as social media, forums and wikis. They maintain the relations between different digital communities.
Lottery manager: Lottery managers organise and coordinate the activities of a lottery organisation. They oversee daily operations and facilitate communications between staff and customers. They review lottery procedures, arrange prices train staff and strive to improve the profitability of their business. They take responsibility for all lottery activities and ensure that relevant lottery rules and regulations are followed.
Marketing manager: Marketing managers carry out the implementation of efforts related to the marketing operations in a company. They develop marketing strategies and plans by detailing cost and resources needed. They analyse the profitability of these plans, develop pricing strategies, and strive to raise awareness on products and companies among targeted customers.
Betting manager: Betting managers organise and coordinate the activities of a betting shop. They oversee daily operations and facilitate communication between staff and customers. They carry out cashier duties, train staff and strive to improve the profitability of their business. They take responsibility for all betting activities and ensure that relevant betting rules and regulations are followed.
Sales manager: Sales managers develop sales and targeting strategies for a company. They manage sales teams, allocate sales resources based on the plans, prioritise and follow up on critical leads, develop sales pitches and adjust them over time, and maintain a sales platform to track all leads and sales.
Promotion manager: Promotion managers plan and implement the implementation of promotional programs in the point-of-sale of products. They coordinate all efforts from personnel, below-the-line (BTL) advertising material, and conventional advertising efforts in order to raise awareness of a specific promotion.
Category manager: Category managers define the sales programme for specific product groups. They research market demands and newly supplied products.

Pricing specialist: Pricing specialists analyse production prices, market trends and competitors in order to establish the right price, taking brand and marketing concepts into consideration.

Manage profitability 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.

Spa manager: Spa managers coordinate the day-to-day operations of the spa establishment in order to provide guests with the best customer experiences. They oversee the activities and performance of staff, manage the financial aspects of the Spa, deal with suppliers and run advertising campaigns for the spa in order to attract more customers.
Investment manager: Investment managers administer the portfolio of investments that a company has. They perform close follow up of the investments looking for the most profitable solutions represented in financial products or securities. They analyse behaviour in financial markets, interests rates, and the companies’ position in order to advise on risks and profitability for the client.
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.
Laundry and dry cleaning manager: Laundry and dry cleaning managers oversee the laundry operations in an institutional laundry. They supervise laundry and dry cleaning staff, plan and enforce safety procedures, order supplies and oversee the laundry’s budget. Laundry and dry cleaning managers ensure the quality standards and that customers’ expectations are met.
Financial controller: Financial controllers handle all tasks related to the budgeting and accounting aspects of a company or organisation. They implement and ensure compliance with internal financial and accounting procedures, and prepare documentation for external audits. They collect information related to financial statements such as assets, liabilities, equity, and cash flow in order to assess the company’s financial position to prepare annual budgets and forecasts.
Product manager: Product development managers are responsible for managing the lifecycle of a product. They research and develop new products in addition to managing existing ones through market research and strategic planning. Product managers perform marketing and planning activities to increase profits.
Service manager: Service managers are responsible for the supervision and coordination of the provision of different professional and technical services to customers. They ensure a smooth interaction with clients and high levels of satisfaction post-service. This occupation includes the provision of policing, correctional, library, legal and fire services.
Operations manager: Operations managers plan, oversee and coordinate the daily operations of production of goods and provision of services. They also formulate and implement company policies and plan the use of human resources and materials.
Programme manager: Programme managers coordinate and oversee several projects working simultaneously. They ensure workability and compatibility among projects ensuring that overall, each one of the projects under the management of project managers, turn out profitable and leveraging one to the other.
Laundry workers supervisor: Laundry workers supervisors monitor and coordinate the activities of the laundry and dry-cleaning staff of laundry shops and industrial laundry companies. They plan and implement production schedules, hire and train workers and monitor the production quality levels.

References

1. Manage profitability – ESCO