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Nature and Significance of Management
Question
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Write the meaning of 'Level of Management'. What are the main functions of toplevel management?

Answer

Meaning of Level of Management: It refers to a line of demarcation between variousmanagerial positions in an organisation. They lay down the authorities of the managers.
Functions of Top Level Management:
(i) Determining Objectives: Top level management sets objectives for the organisation. Forexample, an objective can be set that in the following year the sales of the company has tocross ? 1,000 crore.

(ii) Determining Policies: Only at this level policies related to the realisation of objectives are
formed. For example, it can be a sales policy of a company to just make cash sales.

(iii) Determining Activities: Different activities to be performed for the fulfilment of anobjective are fixed, such as sales, purchase, advertisement, production, research, etc.

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Some More Questions From Nature and Significance of Management Chapter

Explain, in brief, ‘management’ as a process. 

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Explain, in brief, management as a 'Dynamic Function'.

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