Question

State any four functions performed by top level managers.

Hint:

Top Level = Brain of the organization.
Focus = Strategy, Survival, Policy, and Environment.

Answer 1

Concept:

• Top level management consists of senior-most executives like the CEO, Chairperson, Board of Directors, etc.

• They are responsible for the overall direction and survival of the organization.
Step 1: Formulating Overall Objectives and Goals

• Top level managers are responsible for setting the long-term goals and objectives of the entire organization.

• They decide what the company wants to achieve in the next 5 or 10 years.

Step 2: Framing Policies and Strategies

• They develop the broad policies and strategies required to achieve the organizational goals.

• These policies act as guidelines for middle and lower-level management.

Step 3: Assembling and Coordinating Resources

• They are responsible for mobilizing all the resources required for business operations, including finance, machinery, and fixed assets.

• They coordinate the activities of different departments to ensure unity of action.

Step 4: Responsibility for Survival and Welfare

• The top management is responsible for the overall welfare and survival of the organization in a competitive environment.

• They analyze the business environment and its implications for the company's future.

• They are ultimately responsible for all the activities of the business and its impact on society.