- Books Name
- BUSINESS STUDIES-XII
- Publication
- ABCD CLASSES
- Course
- CBSE Class 12
- Subject
- Business Studies
Levels of Management
Meaning:- Every individual in the hierarchy is responsible for the successful completion of a particular task. Authority-responsibility relationship binds individuals as superiors and subordinates Give rise to different levels in an organization.
Top-level management:- Consists of the Board of Directors, Chief Executive and departmental heads.
Functions:
- Complex and stressful, demanding long hours and commitment to the organization.
- Analyze the business environment and its implications for the survival of the firm.
- Responsible for the welfare and survival of the organization.
- Decide long-term goals of the organization and strategies for their achievement.
Middle level management:-Consists of departmental managers, divisional heads.
Functions:
- Making manpower planning to see that their department has the necessary personnel.
- Assign necessary duties and responsibilities to them.
- Co-operate with other departments for smooth functioning of the organization.
- Responsible for all the activities of first-line managers.
- Outlook the policies framed by top management.
Operational management:-Consists of superintended, supervisors, section officers etc.
Functions:
- Solving workers’ problems and complaints, ensuring proper working environment and safety of workers, inviting.
- The link between workers and middle-level managers, creating better human relations with workers.
- Instructions of the middle management to the workers are passed.
- Maintain Quality of output, wastage of materials is minimized and safety standards are maintained.
Objectives of Management
- Social objectives:
- Using environmental friendly methods of production.
- Giving employment opportunities to the disadvantaged sections of society.
- Right quality goods should be provided to customers.
- Organizational Objectives:
- Survival: to survive, an organization must earn enough revenues to cover costs, reducing wastage.
- Profit: essential incentive for the successful operation of the enterprise and the reward for bearing the risks.
- Growth: increasing sales volume, increase in the number of employees, the number of products or the increase in capital investment, etc.
- Personal objectives:
- Management try to provide like good salary and a good working environment.
- Chances of growth, promotion to an employee.
- Good working conditions should be provided at the workplace.
- Employees should be rewarded for their good and hard work.