__________ is a team, consisting of managers from different functional level, heading finance, marketing etc.

Top Management

The correct answer is option (1) : Top Management

Top Management: They consist of the senior-most executives of the organisation by whatever name they are called. They are usually referred to as the chairman, the chief executive officer, chief operating officer, president and vice-president. Top management is a team consisting of managers from different functional levels, heading finance, marketing etc. For example chief finance officer, vice president (marketing). Their basic task is to integrate diverse elements and coordinate the activities of different departments according to the overall objectives of the organisation.

Middle Management is the link between top and lower level managers. They are subordinate to top managers and superior to the first line managers. They are usually known as division heads, for example production manager. Middle management is responsible for implementing and controlling plans and strategies developed by top management

Supervisory/lower/Operational Management : Foremen and Supervisors comprise the lower level in the hierarchy of the organisation. Supervisors directly oversee the efforts of the workforce.