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Financial Management 1 Assignment 01

The document outlines the three levels of management found within organizations: Top-level management includes the board of directors, CEO, CFO, and COO who control goals, policies, and overall authority. Middle-level management includes departmental managers who organize lower levels and communicate between top and lower levels. Lower-level management includes supervisors who directly oversee employees and address day-to-day functions. Each level has distinct roles in planning, communication, and operations for smooth organizational performance.

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William Mushonga
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86 views

Financial Management 1 Assignment 01

The document outlines the three levels of management found within organizations: Top-level management includes the board of directors, CEO, CFO, and COO who control goals, policies, and overall authority. Middle-level management includes departmental managers who organize lower levels and communicate between top and lower levels. Lower-level management includes supervisors who directly oversee employees and address day-to-day functions. Each level has distinct roles in planning, communication, and operations for smooth organizational performance.

Uploaded by

William Mushonga
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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INTERNATIONAL TRAINING COLLEGE - LINGUA

Towards Educational Excellence


NCHE Reg. No: R0014
NQA Accreditation No: 000095

DEPARTMENT OF BUSINESS AND MANAGEMENT

MARKING KEY: ASSIGNMENT 1

Lecturer: MR W. MUSHONGA Due Date: 12 MARCH 2020

QUALIFICATION : Diploma in Accounting & Finance (NQF Level 6)

: Bachelor’s Degree in Business Administration (NQF Level 7)

: Bachelor’s Degree in Accounting and Finance (NQF Level 7)

MODULE : BUSINESS MANAGEMENT 2 (NQF 6)

ASSIGNMENT : 1

TOTAL MARKS: 30 marks

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Question 1

Segmenting the management of an organization into levels is vital to maintaining the


productivity and work performance of employees. Although when there is a change in the size
of the business or the workforce, there would also be a change in the number of levels of the
management.

The three levels of management provide a separation between the managerial positions of the
organization. The administrative rank of an organization worker determines the extent of
authority, the status enjoyed and the chain of command that can be controlled by the worker.

Analyse the three levels of management found within an organization, where managers at
these levels have different roles to perform for the organization to have a smooth performance.

[30 marks]

There are three levels of management found within an organization, where managers at these
levels have different roles to perform for the organization to have a smooth performance, and
the levels are:

Top-Level Management/ Administrative level

Middle-Level Management/ Executory

Low-level Management/ Supervisor

Top Level Management

Top-Level Management is also referred to as the administrative level. They coordinate


services and are keen on planning. The top-level management is made up of the Board of
Directors, the Chief Executive Officer (CEO), the Chief Financial Officer (CFO) and the Chief
Operating Officer (COO) or the President and the Vice President.

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The Top-level management controls the management of goals and policies and the ultimate
source of authority of the organization. They apply control and coordination of all the activities
of the firm as they organize the several departments of the enterprise which would include
their budget, techniques, and agendas.

Top-level management is accountable to the shareholders for the performance of the


organization. There are several functions performed by the top-level management, but three of
them are the most important, and they are:

To lay down the policies and objective of the organization

Strategizing the plans of the enterprise and aligning competent managers to the departments
or middle level to carry them out.

Keeping the communication between the enterprise and the outside world.

Middle Level of Management

Middle-level Management is also referred to as the executory level, they are subordinates of
the top-level management and are responsible for the organization and direction of the low-
level management. They account for the top-level management for the activities of their
departments.

The middle-level managers are semi- executives and are made up of the departmental
managers and branch manager. They could be divided into senior and junior middle-level
management if the organization is big. They coordinate the responsibilities of the sub-unit of
the firm and access the efficiency of lower-level managers.

The middle-level managers are in charge of the employment and training of the lower levels.
They are also the communicators between the top level and the lower level as they transfer
information, reports, and other data of the enterprise to the top-level. Apart from these, there
are three primary functions of the middle-level management in the organization briefed below:

Lower Level of Management

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The lower level Management is also referred to as the supervisory or the operative level of
managers. They oversee and direct the operative employees. They spend most of their time
addressing the functions of the firm, as instructed by the managers above them.

The lower-level managers are the first line of managers as they feature at the base of
operations, so they are essential personnel that communicates the fundamental problems of
the firm to the higher levels. This management level is made up of the foreman, the line boss,
the shift boss, the section chief, the head nurse, superintendents, and sergeants.

They are the intermediary, they solve issues amidst the workers and are responsible for the
maintenance of appropriate relationships within the organization. They are also responsible for
training, supervising and directing the operative employees.

The lower level managers represent the management to the operative workers as they ensure
discipline and efficiency in the organization. The duty of inspiration and encouragement falls to
them, as they strengthened the workforce. They also organize the essential machines, tools
and other materials required by the employees to get their job done.
End of assignment.

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