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    Functions of The Top Management

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    AB AB
    The top management has several principal functions: 1) determining the broad objectives and goals of the enterprise; 2) formulating policies to realize the company's objectives; 3) engaging in long-range planning and strategy since these are major decisions; 4) organizing the administrative structure of large companies by assigning responsibilities and clarifying job relationships; 5) developing major resources like machinery, equipment, and buildings to implement plans; 6) selecting key managerial personnel who will both influence current success and formulate future plans; 7) coordinating and controlling current operations to guide execution of plans through the organization.

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    Functions of The Top Management

    Uploaded by

    AB AB
    42 views2 pages
    The top management has several principal functions: 1) determining the broad objectives and goals of the enterprise; 2) formulating policies to realize the company's objectives; 3) engaging in long-range planning and strategy since these are major decisions; 4) organizing the administrative structure of large companies by assigning responsibilities and clarifying job relationships; 5) developing major resources like machinery, equipment, and buildings to implement plans; 6) selecting key managerial personnel who will both influence current success and formulate future plans; 7) coordinating and controlling current operations to guide execution of plans through the organization.

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    Functions of the Top Management

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    The top management has several principal functions: 1) determining the broad objectives and goals of the enterprise; 2) formulating policies to realize the company's objectives; 3) engaging in long-range planning and strategy since these are major decisions; 4) organizing the administrative structure of large companies by assigning responsibilities and clarifying job relationships; 5) developing major resources like machinery, equipment, and buildings to implement plans; 6) selecting key managerial personnel who will both influence current success and formulate future plans; 7) coordinating and controlling current operations to guide execution of plans through the organization.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    42 views2 pages

    Functions of The Top Management

    Uploaded by

    AB AB
    The top management has several principal functions: 1) determining the broad objectives and goals of the enterprise; 2) formulating policies to realize the company's objectives; 3) engaging in long-range planning and strategy since these are major decisions; 4) organizing the administrative structure of large companies by assigning responsibilities and clarifying job relationships; 5) developing major resources like machinery, equipment, and buildings to implement plans; 6) selecting key managerial personnel who will both influence current success and formulate future plans; 7) coordinating and controlling current operations to guide execution of plans through the organization.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Functions of the Top Management

    The principal functions of. The top management can be outlined


    as follows:

    1. Determination of Objectives
    It is the top-level management which determines the broad
    objectives of the enterprise. Within 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.

    4. Organizing for Action


    Setting up of the administrative organization of large companies
    with thousands of employees is a complex problem and calls for
    greater caution and skill. Hence, this function also vests with the
    top management. Responsibilities which are necessary to execute
    the policies must be assigned to different employees and
    relationship among the jobs should also be clarified.

    5. Developing of Major Resources


    This function includes the finding out of the various ways and
    means for procuring the resources required to put the plans into
    action. Resources also include physical resources such as
    machinery, tools, furniture, equipment, building, etc.

    6. Selecting Key Personnel


    The managerial personnel not only dominate the success or
    failure of the existing policies but they are key figures in
    formulating future plans. Right type of men must be selected and
    placed at the right places. Hence, this function also vests with the
    top management.

    7. Co-ordination and Controlling


    Although the top management is primarily concerned with the
    future, it must maintain guiding influence on the current
    activities. It must guide in the execution of plans through the
    organization with the resources assembled. This calls for co-
    coordinating and controlling the operation

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