UTTARANCHAL UNIVERSITY
(Established vide Uttaranchal University Act, 2012, Uttarakhand Act No. 11 of 2013)
Premnagar-248007, Dehradun, Uttarakhand, INDIA
ASSIGNMENT COVER PAGE
MANISHA GUPTA
Name of Student:
ASSIGNMENT - JULY 24 BATCH
Batch:
MASTER OF BUSINESS ADMINISTRATION (OL)
Program:
PRINCIPLES AND PRACTICES OF MANAGEMENT (OMBA 111)
Subject & Code:
1st SEMESTER
Semester:
2415010853
Learner ID:
NECESSARY INSTRUCTIONS
1. Cover Page must be filled in Capital Letters. All Fields of the Form are
compulsory to be filled.
2. The assignment should be written / computer typed on A4 size paper and it should be neat
and clearly readable.
3. The cover page should be stapled at the front of each and every assignment.
4. Incomplete Assignments will not be accepted.
Question 1. Describe the roles and functions typically associated with top-level management.
Ans. The highest position in a firm is that of top-level management. Examples are the marketing
director, finance director, and president director. They are in charge of the entire business. They
define the general course of the business, express a vision, create plans and strategies, and distribute
resources to meet objectives. We may call them firm executives or top management.
Executives in the company have vast networks and experience. They are frequently industry
specialists and master functional fields. Consequently, their leadership has a significant impact on the
company's performance. Additionally, they gain from their good communication skills, charm, sense
of responsibility, integrity, and comfort. Additionally, since they hold the last say, they must be
capable decision makers.
Senior managers are in charge of the entire company and have the most power. They manage and
keep an eye on how the business moves in the direction they desire. They decide the direction the
company will go. Additionally, they create policies, strategic strategies, and organizational goals. They
also have a significant impact on how firm resources are allocated and mobilized.
Top-level managers are chosen by shareholders at the annual general meeting and answer to them in
the organizational structure. They are trusted by the company's shareholders to run it in their best
interests, not their own. Because top-level managers prioritize their own interests over those of
shareholders, agency issues frequently occur at this point.
Let's now examine some of the functions and duties of upper management:
establishing objectives. High-level managers set the goals and direction of the organization. They
decide on the mission and vision of the business.
creating a business strategy. High-level managers create strategic plans to accomplish objectives. It
gives the entire company emphasis and direction, which is then applied at lower levels.
establishing corporate guidelines. To make sure the company can accomplish its objectives
successfully and efficiently, top-level managers create, evaluate, and maintain policies and
procedures. Therefore, firm values and goals must form the foundation of organizational policies.
planning events. The organization's departments and operations are coordinated by top
management. They control how these components or actions work together to accomplish objectives.
distributing resources.
When performing their duties and responsibilities, top-level managers take significant risks. Why?
They have a significant impact on the organization and deal with a lot of stress at work. Their choices
have an impact on everyone within and outside the company, not just on their employment or pay.
For instance, a business may fail due to inadequate plans and goals. Lastly, the worst outcomes are
company closures or layoffs.
Furthermore, decisions made by upper management may have an effect on people outside the
company. What caused it to occur? As an illustration, consider the choice to conduct business in an
eco-friendly way. Many businesses today have made an effort to operate in an environmentally
friendly manner. The final say on whether or not to pursue it rests with top-level managers.
Let's say senior managers choose to embrace environmentally friendly practices. Their triple bottom
line aims to balance profit, people, and the environment. Thus, they instruct the company to adopt
eco-friendly procedures. It is impossible for the organization to function in an environmentally
responsible manner without their directives. Additionally, the public's perception of the business is
improved by implementing eco-friendly practices, which benefits the business's ability to succeed
and endure.
Senior managers possess a wealth of knowledge and power, both inside and outside the company.
They engage with others outside of the organization as well. They do, however, also communicate
with stakeholders, including executives from supply companies and government representatives.
High-level executives are experts in their functional fields. Unlike middle management, they work on
conceptual skills instead of technical or managerial ones. As a result, they might be well-performing
seniors in the company. They can advance in their careers thanks to their experience, skill, and
exceptional performance.
Leadership. It is about understanding, inspiring, and encouraging people to move towards goals.
Again, it may be talent or learned through life experience.
Communication. For example, top-level managers must communicate the vision they have built to
their subordinates for execution. Communication is not only within the organization but with
stakeholders outside the organization, such as executives at supply companies or government
officials.
Change management. The business environment is constantly changing, and top-level managers
must be proficient at identifying opportunities and threats. Thus, organizations are more adaptive
and can maintain their competitive advantage over time.
Strategic thinking. Top-level managers develop organizational plans, which must be forward-
looking to ensure future success. And it requires strategic thinking.
Decision-making. Top-level managers hold the highest authority in decision-making. Thus, they
must be effective decision-makers.
Emotional intelligence. Top-level managers create an internal drive from people within the
organization to move together towards their goals and support what they have planned. It ultimately
fosters high commitment and loyalty among subordinates instead of relying on a reward and
punishment system.
Human resource development. Top-level managers work around the team to realize their plans.
They need people to be committed and have the right competencies to carry out their plans and
directions. And development does not focus on a few employees but on all human resources within
the organization.
Delegation. It’s not just about distributing work or less strategic decision-making to subordinates.
But, it’s also a way to develop and motivate them.
Top-level management includes several positions. And their committee is often referred to as the
board of directors or C-suite. Their titles can take several names. For example, directorship titles may
include:
• President director
• Operations director
• Marketing Director
• Human resources director
• Finance director
And for C-suite, there are:
• Chief Executive Officer (CEO)
• Chief Operations Officer (COO)
• Chief Marketing Officer (CMO)
• Chief Technology Officer (CTO)
• Chief Financial Officer (CFO)
• Chief Human Resources Officer (CHRO)
The president director or Chief Executive Officer (CEO) represents the highest ranking executive and
oversees other executives. He became the person responsible for the organization as a whole and
became the main decision maker. Meanwhile, other positions represent the highest positions for each
functional area.
