Business Management includes all aspects of overseeing and supervising business operations. Management is the act of allocating resources to accomplish desired goals and objectives efficiently and effectively. it comprises planning, organizing, staffing, leading or directing, and controlling an organization or effort for the purpose of accomplishing a goal.
Levels of Business Management
Top Level This level consists of the board of directors and managing director. The top management is the ultimate source of authority and it manages goals and policies for an enterprise. The role of the top management can be summarized as follows
- It is at this level that all the objectives and major policies are laid down.
- Instructions are given for preparing the necessary budgets for various departments, schedules, and policies.
- Preparation of premeditated plans and policies are done at this level.
- Appointment of executives at the central level or departmental heads.
- Since it consists of Board of Director the top administration is accountable towards the shareholders for the performance of the organization.
- Harmonization and control are the two major roles played by the top management.
- It guides the organization in the right direction towards achieving the goals and objectives.
Middle Level They are responsible to the top management for the functioning of their department. They devote more time to organizational and directional functions. These people are directly accountable to the top management for the functioning of their respective departments. The roles of managers at this level are as follows
- The main role lies in the implementation of policies and plans as per the directives of the top management.
- Preparing plans for the subunits of their respective departments.
- Actively contribute in guidance and employment of supervisory level of management.
- Their duty is to understand and elucidate the policies of the top management to the lower management.
- Bringing together the activities within the department is another role at this level of management.
- Assessment of the performance of junior managers.
- Timely and important reports or data to be sent to the top management.
- The motivation of supervisory managers is a vital role in this level of management.
Lower Level It consists of supervisors, foreman, section officers, superintendent. they are concerned with the direction and controlling function of management. Their activities include
- Handing over jobs or responsibilities to a variety of workers.
- Guidance towards day to day activities of the organization.
- These managers are directly responsible for the quality and amount of production.
- They act as mediators in communicating the problems of workers and also undertake to recommend solutions to a higher level of organization.
- They take stock of the machines and material required for the work to be done.
- They are the role models for the workers as they are directly and constantly in touch them.
- It is their duty to uphold discipline and decorum in the organization.