NATURE AND SIGNIFICANCE OF MANAGEMENT • Management is the dynamic process of getting things done through others with the aim of achieving organisational goals effectively and efficiently • There are three levels of management .
Top level
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Middle level
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Lower level
TOP LEVEL MANAGEMENT •
Studieson orsuchNature and Significance of Management1.91.Top Management(Top level management consists of senior most execut ives of the organisation who are responsible for framing business policies and taking major decisions. Top level management includ es Chief Executive Officer, President, Chairman, Managing Director, Board of Directors, Chief Operating Officers, Vice-Presidents, General Managers and other senior executives. Following are the main functions of top level management:a. Formulating overall organis ational goals and strategies for their achievement.b.Framing plans and policies to achieve the desired objectives.Coordinating the activities of different departments. Analysing the business environment and its implications for the survival of the firm. Arranging resour ces such as men, money and machine to achieve the desired goals. d. e.C.f.Maintaining better relationship with the outsiders.2. Middle ManagementMiddle level of management is subordinate to top level and superior to lower level management) They act as a link b etween top level and lower level managements. Their main task is to carry out the plans formulated by the top managers. It consists of heads of purchase department, sales department, finance department, marketing department, etc. Following are the functions of middle l evel management:a. Interpreting the policies framed by top management.b. Ensuring that their department has the necessary personnel or workers.C.Assigning duties and responsibilities to workers in their department.d. Motivating personnel in their department to achieve the desired objective.e. Maintaining cooperation with other departments.3. Lower level or Supervisory or Operational Managementit is the lowest level in the hierarchy of management with limited authority an responsibility.This level plays a very important r ole as it has direct contact with worker Operational management consists of supervisors, foremen, superintendent, section officer inspector s etc. The main functions of lower level management are:on.entCh5,
• Levels of ManagementEvery organisation consists of number of persons, who are placed at different position to perform different responsibilities.To be able to fulfil these responsibilities they are assigned a certain amount of authority or the right to take decisions.This authority- responsibility relationship binds individuals as superiors and subordinates. It leads to the formation of different levels of management.The hierarchy of management positions from top to bottom is called levels of management.In an organisation, three levels of management are usually identified:Level1.Top-level ManagementExecutivesC.E.OBoard of Directors/Chief Executives2. Middle-Level ManagementH.O.D.-Departmental Heads/Junior Executive3. Lower-Level ManagementWorkersForemen/SupervisorsLevels of Management
• 1.10a. Issuing orders and instructions of middle management to workers.ii. Restb. Planning day-to-day activities and assign tasks to workers.throc. Ensuring safety and maintain good working conditions.restd. Preventing wastage and misuse of raw materials, tools, etc.iii. ProInne. Representing workers' grievances before management.assiv. Ethf. Ensuring quality of output.guig. Maintaining discipline among workers.Functions1.8