Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Nature and significance of Management

Question:
Which of the following is a function of top level management?
Options:
Ensuring quality of output and ensuring that the safety standards are maintained within the organisation
Assigning necessary duties and responsibilities to their departments
Analyse the business environment and its implications for the survival of the business
All of the above
Correct Answer:
Analyse the business environment and its implications for the survival of the business
Explanation:
Top Management: They consist of the senior-most executives of the organisation by whatever name they are called. Top management is a team consisting of managers from different functional levels, heading finance, marketing etc. Their basic task is to integrate diverse elements and coordinate the activities of different departments according to the overall objectives of the organisation. These top level managers are responsible for the welfare and survival of the organisation. They analyse the business environment and its implications for the survival of the firm. They formulate overall organisational goals and strategies for their achievement. They are responsible for all the activities of the business and for its impact on society. The job of the top manager is complex and stressful, demanding long hours and commitment to the organisation.