What does a business head do?

- revenue and margin management - scale and profitability - strategic roadmap for expansion / diversification - differentiating and competitive advantage - processes / operations / compliance. - customer experience - drive transformation / management innovation - financial and fiduciary well being. - people management - stakeholder management

The business head's role is to ensure business stays relevant, profitable and scalable. Business heads also need to build a strong team to complement their skill sets. Other responsibilities include - Managing P&L, ensuring the product is competitive in the market, The customers are satisfied, Trade partners are profiting as the company grows and lastly maintains a good culture at the workplace.

Nearly owns the business. Does everything needed for business. Involves himself deeply in all activities either directly or indirectly required to be done for his business. This includes, products, people, processes, culture. He designs and executes the strategies for LtL stores growth. He designs and executes expansion plans, new markets , untapped opportunities which put his business in the path and space of monopoly where it can have a long tenure and common premium price. Business Head decides the required steps for superior CX and CI and inspires his people for development. Marketing and BD are his main agenda because he exactly knows what his business stands for.

Key focus areas include: 1. Fraud Monitoring 2. Anti-Money Laundering 3. Data & Regulatory Reporting 4. Tax Information Reporting 5. Deposit, Payments, Lending Operations 6. Balance Sheet & Controls 7. Cash Services 8. Operational Optimization & Enablement

A business head has to ensure that their business is creating value, is marketing and selling that value, and is delivering that value to customers or clients while making a profit.

A Business Head should have a degree in Business Administration, Management, or a related field, with an MBA often preferred. Essential skills include strong leadership to manage teams, strategic thinking for business planning, and financial acumen for budgeting and profit management. Excellent communication skills are necessary for engaging stakeholders. Industry knowledge and problem-solving abilities are also crucial for navigating market challenges and driving growth.

A good business head in the industry should possess skills such as strategic thinking, leadership, decision-making, problem-solving, communication, negotiation, adaptability, financial acumen, data analysis, customer focus and innovation. These skills enable effective management and drive business success in the dynamic eCommerce landscape.

In my perspective, the challenges faced by a business head include the pressure to meet financial targets and deliver results while also ensuring the sustainability and growth of the business. They must constantly analyze market trends and competition to identify opportunities for expansion and innovation.

The Head of Business role is pivotal to the success of a business, as the role is responsible for guiding the Team in executing the organization's operational plans, and strategies, using key skills to ensure efficient and effective implementation, while ensuring profitability is maintained in addition to the achievement of overall business objectives and goals. Maintaining Financial success is a major responsibility of the role, hence the constant pressure to get the organization to the top and maintain the lead in the face of a dynamic economic environment remains a continuous challenge.

A business head is the strategic leader of an organization, balancing vision with execution. They set and communicate long-term goals, ensuring operations align with these objectives. Financial acumen is crucial—they manage budgets, drive profitability, and allocate resources wisely. Leading a team, they foster a positive culture and motivate employees towards shared success. Building strong stakeholder relationships and adapting to market changes are also key. Effective communication, problem-solving, and decision-making are critical. Ultimately, a business head steers the company towards sustained growth and long-term success.

Another challenge a business head might face is to promote a culture of self-organizing and self-governing team while still maintaining authority. This requires carefully navigating the delicate balance between autonomy and leadership control. Developing such culture would require frequent and effective communication in the form of regular check-ins, performance reviews and open channels for communication. Providing a supportive environment where ideas can flourish while ensuring alignment with the company's overarching strategy is crucial.

A business head is tasked with not only leading the unit with innovative strategy to outpace the competition, cultivate a culture that is healthy and vibrant for teams but also accomplishing new growth. The key, in this multifaceted role, boils down to two parts, strategy and the story behind the strategy to gain buy-in from stakeholders and employees alike. By weaving strategy into a relatable story, a business head can connect abstract goals to the real-world experiences and aspirations of the team, making the strategy not just a plan, but a shared journey. This emotional connection fosters greater buy-in, as team members feel personally invested in the outcome and are more likely to align their efforts with the strategic objectives.

Within the context of banking, specific business heads lead critical functions that capacitates front office, middle office, and back office operations. In other words, these business heads facilitate the business’s ability to achieve its day-to-day operational and long-term growth goals. For business operations leaders within a bank, their ability to develop precise execution plans that align with strategic goals is valuable in this role. Other focus areas could include: 1. Fraud Monitoring 2. Anti Money Laundering 3. Data & Regulatory Reporting 4. Tax Information Reporting 5. Deposit, Payments, Lending Operations 6. Balance Sheet & Controls 7. Cash Services 8. Operational Optimization & Enablement

Business Head is a multifaceted role To perform it to the best extent need following - It’s utmost importance an individual possess a relevant professional qualification , domain knowledge skill sets , interpersonal relationships management This role has to deal tactically with leadership team and his reports making sure to achieve organisational goals on a sustainable basis balancing expectations of both head of the organisation and his all team members This role is responsible for managing top line and bottom line of the company managing effective work relationships with all cross functional teams keeping the spirit high all the time Role has his own set of challenges of performing consistently & ensuring R & R for his team members

- Leadership and Management : Make high-level decisions about policy and strategy - Corporate Social Responsibility - Strategic Planning and Vision - Monitor the company’s financial performance - Board Governance (if Chairman) Lead the board of directors and ensure its effectiveness. - Stakeholder Management TO Build and maintain relationships with key stakeholders - Risk Management & Identify / mitigate potential risks to the business PLUS + Crisis Management - Performance Monitoring & Implement corrective actions when necessary to stay on track with business objectives - Innovation and Growth & Talent Management

Being a business head can give you the experience and credibility to make you a CEO candidate. If you get the chance to build minimum-viable-products (MVPs) and find product-market-fit (PMF), it can also be a springboard to start your own business.

My humble view is simply as a business head one has to understand the organisation vision, values, objectives, strategy etc and ensure the the business unit that is under the business heads care is aligned to the overall organisation objectives and equipped, with suitably resourced with the correct skills and competencies, tools and resources to achieve individual business unit objectives contributions. Also a core competency is removing blockages and barriers for the team to perform and thrive