Roles and Responsibilities of Top Level Managers
Top level management consists of the Chief Executive Officer (CEO), Chief Operating Officer (COO), Chief Information Officer (CIO), the Managing Director and the Senior Executive as we already discuss in our previus . In a typical commercial company top level managers rule the enterprise. They decide on the direction of an organisation and set major milestones, which departments and teams need to achieve. Let’s take a closer look at the work of these professionals and some of their functions in a modern company.
Functions of Top Level Management
Top level managers are mainly involved in board meetings. They discuss matters such as long range planning, policy formulation and organisation strategies. These specialists primarily deal with the stability, growth and survival of an organisation. In other works, their main responsibility is to protect the integrity of the company. Here’re some of the functions of top level managers.
Determine organisational objectives – organisational objectives generally relate to profit, survival, business growth, widening sales operations and maintaining good relations with employees, customers and public
Set market policy – advertising and sales techniques, product pricing, commission, training, promotions, appraisal of performance and channel of distribution
Set financial policy – this practice relates to the procurement of sources of finance, funds and management of profits
Operations control – control over middle and lower level management, regarding operations, through budget, quality control and accounting services
Roles of Top Level Managers
Generally, the top level management in an organisation is formed by three individuals – the CEO, COO and CIO. Here’s more information about these roles.
Chief Executive Officer (CEO)
This is the highest ranking person in an organisation. The CEO reports only to the board of directors. This manager is responsible for the company’s success. CEOs typically need to provide broad leadership and vision rather than deal with the details of operations and performance.
Chief Operating Officer (COO)
The COO is the second-in-command in a company. The duties of this manager include reporting to the CEO, monitoring departments’ results as well as measuring performance and efficiency. In many cases COOs ascend to the role of CEOs.
Chief Information Officer (CIO)
This professional manages the technical needs or an organisation. CIOs determine how hardware and software is implemented, analyse data security and computing needs of a company.
Top level management makes the key decisions in an organisation. These managers shape the goals, strategies, objectives and projects in a company. They take decisions which affect every person working in the organisation and are ultimately responsible for the failure or success of the enterprise.