“What is management in business” is a art of getting things done through and with the people in formally organized manner, also an art of developing an environment for the peoples, where peoples can perform individual or together towards achieving goals of business or entity or company or group. With management learn how to study smartly.
What is Management in Business and Levels
Levels of management can be different but basically there are three levels of management in business given below:
#1 The Top Management in Business
This is the top level of management in any company or entity. Board of directors, managing director or chief executives are the key persons company. Top level of management is ultimate source of authority, also they manages policies and goals of entity or company. They devote more time than others in planning and coordinating functions.
Main role of top management can be pointed out in given points:
- Top management lays down the objectives and broad policies of the enterprise.
- Procedures, schedules and preparation of budges done at this level.
- It prepares strategic plans & policies for the enterprise.
- It appoints the executive for middle level i.e. departmental managers.
- Activities of departments are controlled and coordinate by top level.
- Top level management is responsible for maintaining contact with the outside world.
- It provides guidance and direction.
- They are responsible towards the shareholders of entity for the performance of the enterprise.
#2 Middle Level Management in Business
Middle level management consists managers like departmental managers or branch managers. Also they have responsibility of functioning corresponding departments. In small entities or company, there is only single layer of middle level of management, but in big companies, there may be more than one level of management such as senior and junior management.
The role of middle level management given below:
- Execution of plans and policies in the organization according to directives of the top management.
- Responsible to make plans and schedule for the sub-units of the entity or company.
- They participate in training of lowest level management.
- Middle level explains and interprets policies and goals from top level management to lower level.
- They are responsible for coordinating the activities within the division or department.
- Middle level sends important reports and other important data to top level management.
- They evaluate performance of junior managers.
- They are also responsible for inspiring lower level managers towards better performance.
#3 Lower Level Management in Business
This level consists supervisors, operative staff, section officers, foreman etc. This is the lowest level of management and it also called supervisory or operative level of management. According to R.C. Davis, “Supervisory management refers to those executives whose work has to be largely with personal oversight and direction of operative employees”. We can say that they are concerned with direction and controlling by the management.
Lower level management includes:
- Assigning of tasks or jobs to different workers.
- Instruct and guide to workers for daily routine activities.
- Lower level is responsible for the quantity as well as quality of production.
- They have to maintain good relations with workers and other members in the organization.
- They communicate to higher authority for workers problems, suggestions, and recommendatory, appeals etc. Also higher level goals and objectives to the workers.
- They help to solve the grievances of the workers.
- They supervise & guide the sub-ordinates.
- Lower level also responsible for providing training to the workers.
- They arrange necessary materials, machines, tools etc for getting the things done.
- They prepare periodical reports about the performance of the workers.
- They ensure discipline in the enterprise.
- They motivate workers.
- They are the image builders of the enterprise because they are in direct contact with the workers.