The top management consist of a team of people involving the board of directors, CEO, all general managers etc. The top management provides vision and direction to the company by identifying various products/services, new geographical markets, new methods of production etc. These areas are important because they change their dimensions as the environment changes.
The role management is also important for not only setting standards but also to provide performance bench mark and evaluate the same. The responsibility of to management can be listed as follows:
- Setting objectives for business.
- Establishing a policy framework.
- Assigning roles and responsibilities to middle level employees.
- Selecting ad developing key personnel.
- Integrating people’s effort in achieving organisation objectives.
- Simulating creative thinking.
- Measuring and evaluating performance.
- Planning for succession.
According to Peter Drucker there are some auxiliary functions to be performed by top management people which are as follows:
- To maintain contacts with important people.
- To portray a positive image for the organisation.
- To ensure that the organisation discharges its social responsibilities.
- To develop corporate values that guides the policies and procedure of the organisation.