what is top level management?
write 3 functions of it
Answers
Answer:
There are several functions performed by the top-level management, but three of them are the most important, and they are:
To lay down the policies and objective of the organization.
Strategizing the plans of the enterprise and aligning competent managers to the departments or middle level to carry them out.
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Answer:
Top-Level Management is also referred to as the administrative level. They coordinate services and are keen on planning. The top-level management is made up of the Board of Directors, the Chief Executive Officer (CEO), the Chief Financial Officer (CFO) and the Chief Operating Officer (COO) or the President and the Vice President.
FUNCTIONS
1. Determination of Objectives:
It is the top level management which determines the broad objectives of the enterprise. Within the framework of the Memorandum of the company, the Board must determine the goals of the enterprise. The objectives may be either general or specific.
2. Formulation of Policies:
For realizing the cherished goals of the company, the top management must also formulate the policies. The objectives and policies must guide the activities of the company, the selection of policies also calls for the Board’s judgement.
3. Long Range Planning and Strategy:
Since long range plans and strategies are major decisions, they are also rested in the hands of the top level management. If the long range planning proves faulty, the company shall find itself in serious financial difficulties.