Meaning of ManagementManagement is the process of coordination and administration of tasks that is required to achieve the goals of the organisation. It is also referred to as the art of making things happen with the help of resources. Show
Management is required for an established life and is essential for managing all types of organisations. A sound management system is the fortitude of thriving companies. Managing life implies getting everything done to accomplish the aspirations of life and maintaining an establishment. This means getting things done with and by other people to fulfill its objectives. To put it in other words, the organisation and coordination of the pursuits of an industry for the idea of accomplishing determined objectives efficiently and thoroughly are marked as management. This authoritatively obligatory association connects individuals as subordinates and superiors and gives rise to distinct degrees in an establishment. There are 3 levels in the ranking order of an establishment and they are:
Let us discuss these management levels in detail in the following lines. Top Level ManagementThey comprise of the senior-most executives of the company. They are normally regarded as the Chairman, the Chief Executive Officer (CEO), the Chief Operating Officer (COO), President and Vice-president (VP). Top management is a team consisting of managers from various operational levels, managing marketing, finance, etc., For instance, Chief Finance Officer (CFO), Vice President (marketing) whose primary task is to combine various components and regulate the actions of different units according to the overall objectives of the company. These top-level managers are accountable for the progress and continuation of the establishment. They investigate the trading atmosphere and its connections for the survival of the company. They form the overall organisational aims and approaches for their accomplishment. They are held responsible for all the pursuits of the company and for its influence on the society. The job of the top manager is difficult and stressful, necessitating long hours and dedication to the company. Must Read: Class 12 Business Studies Syllabus 2020-21 Middle Level ManagementIt is the connection between top and lower level managers. They are lower to the top managers and above to the first line managers. They are normally called as division heads, for instance, Production Manager. Middle management is accountable for executing and regulating systems and manoeuvrings generated by the top management. At the same time, they are liable for all the actions of the first-line managers. Their principal task is to bring out the plans formed by the top managers. For this purpose, they have to:
Lower Level ManagementManagers and supervisors make up the lower level of the management in the hierarchy of the business. Supervisors immediately manage the efforts of the workforce. Their power and ability are defined according to the maps drawn by the top management. Supervisory management performs a significant task in the system since they coordinate with the genuine workforce and move in directions of the middle management to the employees. Through their efforts the worth of the output is reported, wastage of substances is reduced, and security measures are affirmed.
This concludes our article on the topic of Levels of Management, which is an important topic in Business Studies for Commerce students. For more such interesting articles, stay tuned to BYJU’S. Which level of management ensures coordination in the activity so that work progresses as per plans?(a) Middle-level management
This level of management consists of executives working between top level and supervisory level. They interpret and implement policies, ensure coordination of all activities, ensure availability of resources and implementation of policies framed by top management.
Which level of management is responsible for coordinating the activities?Middle Level of Management
They interpret and explain policies from top level management to lower level. They are responsible for coordinating the activities within the division or department.
What are the levels of coordination?Level five is the coordination level.. Level 1 – Formation.. Level 2 – Formalisation.. Level 3 – Integration.. Level 4 – Expansion.. Next: Level 6 – Self-organisation and self-development.. Which level of management is responsible to ensure their department has the necessary personnel?(i) Top Level Management (consists of the Board of Directors, the Chief Executive or the Managing Director.) Functions performed at top level management are: (a) Responsible for welfare and survival of the organisation.
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