The managerial skill of the top level officers has a great influence in the successes of enterprise. The complicated structure and vast human resource demand an efficient control and management in every aspect of the firm for better result. We discuss the different point related to the management of the business. First sector is understands the managerial hierarchy and their functions in the business. It involves understanding of the self responsibilities and of the higher authorities. Secondly one must understand the firm’s capability in terms of financial factors he must evaluate and make decisions based on it.
Understanding the hierarchy
- Firstly we must know the exact position of us in the company. Then we should study the management structure, big companies have complex structure of management positions and duties. The chief executive officer must know the lower level managerial positions and duties. Observe and understand the organisations divisions and their functional strategies. Reporting pattern also is an important thing to understand and we must be clear about who must report to whom.
- The top officer must know to whom he has to report. Chief executive officer may have to report to the partners, owners or to the share holders. He has to deliver his duties with cordial relationship with other officers in the company.
Understand the objective
When we report to the director or the owner we must present the functional plan and the report on the running projects. The economic status of the company is also may be reported to them in regular intervals. He may need to evaluate and report about the lower officers to him.
Identification of economical status
The chief executive officer must be aware of the overall economic status of the company. He must have an assessment of all assets and liabilities. Everything including human workforce and materials should be evaluated by him for making necessary decisions and reporting