Question

State any four functions performed by top level managers.

Hint:

Top Level = "The Brains" (Thinking/Strategy).
Middle Level = "The Link" (Implementation).
Lower Level = "The Doers" (Direct Supervision).

Answer 1

Step 1: Understanding the Concept:
Top-level management consists of the senior-most executives of the organization (CEO, Board of Directors, etc.). They are responsible for the overall direction and survival of the firm.
Step 2: Detailed Explanation:
1. Determining Objectives: They set the long-term goals and objectives for the entire organization (e.g., reaching a 20% market share).
2. Framing Plans and Policies: They formulate the broad strategies and guidelines that the rest of the organization must follow to achieve the set objectives.
3. Assembling Resources: They are responsible for arranging the necessary resources like finance, fixed assets, and key personnel required for the business.
4. Liaison with Outside World: They represent the company in dealings with the government, media, trade unions, and other external stakeholders.
Step 3: Final Answer:
Top management functions include goal setting, policy making, resource assembly, and external representation.