Top management is at the head of the organisation. It consists of the Board of Directors and its Chairman, the Chief Executive (Ex., Managing Director or General Manager) and the Senior Executive (viz, Deputy General manager). In the operation of the enterprise, top management is the ultimate level of authority. Further, these top level managers are primarily involved in board organisational matters such as policy formulation, long range planning, goal the top management of organisational strategies. In general, the top management effectively deals with all elements and forces that affet the survival, stability and growth of an organisation.
In other words of B.Yuill, the top management duty is to protect the integrity of the organisation, so that it can survive for ita own employees, the shareholders, suppliers and the customer`s interests and for the general good of the social and economic system within which it operates.
Functions of top level management:
The main functions of top level management are as follows:
(a) Determine objectives for the organisation: Objectives may relate to profit, business growth, survival, prestige, competitive pricing, marketing method, widening the area of sales, relations with workers, customers, public etc.
(b) Frame the policy: To frame the policy and chalk out the plans to carry out the objectives and policies. Policies may relate to different aspects of the organisation. For example, production policy deals with the quality, product variety, scheduling of production to meet the market demand etc.
1) Market policy: this policy deals with such matters as advertising and sales promotion techniques, pricing product, channel of distribution, commission, discount, placements, training, remuneration promotion, appraisal of performance etc. of the personnel.
2)Financial policy: This relates to the procurement of funds, source of finance, management of earning, etc.
(c)Organisational Frame Work: Top management determines the organisational structure for the purpose of executing the plans that have been laid down. Execution of plans is necessary to carry out the objectives and policies.
(d)Assemble the Resources: For the purpose of executing the plans, the resources of men, machines, materials and money have to be assembled. This again is the task of top management.
(e)Control the operations through organisation: Controls the top management regarding operations through budgets, cost and statistics quality control and accounting devices.
In other words of B.Yuill, the top management duty is to protect the integrity of the organisation, so that it can survive for ita own employees, the shareholders, suppliers and the customer`s interests and for the general good of the social and economic system within which it operates.
Functions of top level management:
The main functions of top level management are as follows:
(a) Determine objectives for the organisation: Objectives may relate to profit, business growth, survival, prestige, competitive pricing, marketing method, widening the area of sales, relations with workers, customers, public etc.
(b) Frame the policy: To frame the policy and chalk out the plans to carry out the objectives and policies. Policies may relate to different aspects of the organisation. For example, production policy deals with the quality, product variety, scheduling of production to meet the market demand etc.
1) Market policy: this policy deals with such matters as advertising and sales promotion techniques, pricing product, channel of distribution, commission, discount, placements, training, remuneration promotion, appraisal of performance etc. of the personnel.
2)Financial policy: This relates to the procurement of funds, source of finance, management of earning, etc.
(c)Organisational Frame Work: Top management determines the organisational structure for the purpose of executing the plans that have been laid down. Execution of plans is necessary to carry out the objectives and policies.
(d)Assemble the Resources: For the purpose of executing the plans, the resources of men, machines, materials and money have to be assembled. This again is the task of top management.
(e)Control the operations through organisation: Controls the top management regarding operations through budgets, cost and statistics quality control and accounting devices.
4 comments:
its good to be a management student but its too hard to understand
Management is somehow complicated.
Useful content...!!
Good article it is good to read and also I learn lot from here. Also know functons of lower level management and middle level management
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