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Management is an important aspect of economic life, which deals with those personnel
who are concerned with managing of business enterprise. Management is essential
wherever human efforts are to be undertaken collectively to satisfy the wants. It regulates
the man activities through coordinated use of the material resources.
The business characteristics of management remain the same whether the enterprise is to
be managed as a family, a club, business enterprise or trade union. Higher-level authorities
such as chief executives, heads of department who has some power in decision-making
formulate the objectives of the enterprise. In fact the objectives are formulated and
presented to the working personnel in the enterprise, which varies according to their level
and their position in the enterprise. The enterprise will be having workers from low level to
high-level members. The knowledge and experience play a key role in formulating those
policies of the enterprise.
The number of levels of management in a particular enterprise depends on the size of the
enterprise, market value and nature of production based on quality as well as quantity. A
large enterprise needs different levels of management which has the responsibility to make
all the workers get motivated, get organized in order to get the job done within the certain
time period and bring a mutual understanding among the workers in different levels of the
enterprise. In order to accomplish, this understanding among the workers proper planning
should be done for various levels in the enterprise, the plan should have the capability to
project the nature of their work and the objectives of the enterprise. "For example, if an
enterprise manufactures different kinds of products in large volume, there is need for
several layers of management in the enterprise, which would be helpful in bringing better
inter-relationship between the members within the organization."“ (Kezner, 2005) Here is a
brief description of each level.
Top-Level
This level is responsible for setting strategic direction, and also is concerned with how to
best utilize funds, new product decisions, how to read and address trends in the market
place. Profitability goals and long term vs short term trade offs are the purview of this
level of management, as are exit strategy decisions.
Middle-Level
These managers are responsible for organizingothers to accomplish tasks. They are usually
given (or help define) goals and they decide / prioritize the tasks needed to accomplish
those goals. Then they work to assign ways that the tasks can be accomplished within
