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A top management is a specific form of which typically consists of some of the top managers in a firm. However, there is no clear definition to what the top management of an organization is. It is put together by the chief executive officer (CEO) to work on a specific task. [3]
These managers manage the work of low-level managers and may have titles such as department head, project leader, plant manager, or division manager. Top managers are responsible for making organization-wide decisions and establishing the plans and goals that affect the entire organization.
A group of Fortune 500 CEOs in 2015. A chief executive officer (CEO), [1] also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization.
Most corporate managers holding the titles of chief executive officer (CEO) or president, for example, are the general managers of their respective businesses. More rarely, the chief financial officer (CFO), chief operating officer (COO), or chief marketing officer (CMO) will act as the general manager of the business. Depending on the company ...
There are considerable variations in the composition and responsibilities of corporate titles. Within the corporate office or corporate center of a corporation, some corporations have a chairman and chief executive officer (CEO) as the top-ranking executive, while the number two is the president and chief operating officer (COO); other corporations have a president and CEO but no official deputy.
The terms "management" and "leadership" have, in the organizational context, been used both as synonyms and with clearly differentiated meanings. However Bennis and Nanus were clear in their distinction in their frequently quoted phrase "Managers are people who do things right and leaders are people who do the right thing". [152]
This means that top management or someone authorized by top management is aware that a problem exists and has decided to seek help in solving it. There is a direct analogy here to the practice of psychotherapy : The client or patient must actively seek help in finding a solution to his problems.
In the early years of the profession, most managers came from the ranks of the engineering professions. [17] Today, the typical and preferred background and education for the beginning municipal manager is a master's degree in Public Administration (MPA), and at least several years' experience as a department head in local government, or as an assistant city manager.