Question

State any two functions of top level management.

Hint:

The success of an organization often hinges on the strategic direction and decisions made by top-level management.

Answer 1

Top-level management refers to the highest level of management in an organization, which is responsible for setting strategic goals and making long-term decisions. They hold the ultimate responsibility for the direction and success of the organization. Two key functions of top-level management: 1. {Formulating strategic plans:} Top management is responsible for setting long-term goals and creating strategies to achieve them. This includes defining the organization's mission, vision, and business objectives. 2. {Policy formulation and decision-making:} Top management is responsible for making high-level decisions that affect the overall direction of the organization. This includes decisions related to organizational structure, mergers, acquisitions, and investment strategies. Conclusion: Top-level management plays a pivotal role in steering the company towards achieving its long-term objectives and ensuring its sustainability in the market.
Final Answer: \[ \boxed{\text{Top-level management is responsible for strategic planning and policy formulation.}} \]