In most cases, top management is in charge of setting company goals . To achieve these, managers must motivate employees, improve communication and foster a corporate culture of creativity and innovation.
This management team is the one that takes control within the company over the decisions that could affect everyone, from the president to the employees. These decisions, along with the way in which senior management treat staff, influence the success of the company.
Its main function is to create economic rent, which currently is more than the profits obtained from the commercialization process. The quality of the management and the value that the activity has before the community are elements that are added to determine the income generated by the organization.
Characteristics
Company knowledge
Has a full understanding of the operation of the organization and how it relates to the industry in general. They plan initiatives and monitor the results.
There is a significant purpose in their actions, with each director being responsible for a specific function within the management group.
Leadership
He is responsible for ensuring that work is done in a timely manner, as well as driving change throughout the organization. This means that you must establish a strong and trusting relationship with your teams.
Establish a commitment and responsibility with the decisions made. In the case of a problem, he analyzes it, identifies alternatives and makes a decision, which must be supported by all. It has the ability to inspire success at all levels of the company.
Effective communication
You communicate effectively with the general people in your organization and those outside the company, such as the media, customers, and suppliers.
They are receptive to difficult messages and situations, always maintaining objectivity. Conflicting discussions are not seen as a problem, but as a positive activity.
It is essential that its members are able to articulate thoughts clearly, maintain composure under pressure, and harness emotional intelligence to connect with those around them.
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You have an overview of the industry and can translate what's happening across the industry into actionable goals for your organization.
Teamwork
They must work as a team , joining their strengths and reinforcing the weaknesses of each member, thus creating a synergy between the group and favoring the achievement of the objective. They take action when the situations raised are not meeting expectations.
Features
Senior management meets periodically to discuss matters concerning the entire company and to fulfill its functions:
Establish policies and strategies
- Develop business policies, objectives and goals, aimed at the implementation of good corporate management. Articulate the vision of the company with the rest of the workers and with the different people or external entities with which it is linked.
- Put into practice the necessary strategies to determine the best way to use the company's resources. For example, its human capital, economic, materials and technological infrastructure.
- Guarantee the implementation of the strategy and the orientation of resources towards success. Check if their actions are relevant to the general objectives of the organization. Verify that the guidelines and strategies are communicated and applied within the organization.
Establish operating principles
- Establish operating principles, which include a shared set of values, decision-making processes, forms of communication within the team and with the rest of the employees, monitoring of activities, among others.
- Manage the business operations of the company as a whole. This requires the planning of various processes to be developed, the principles and practices of the company, as well as the monitoring of financial matters and business plans.
- Provide financial, material and personnel resources for the proper functioning of the company.
- Delegate command to those who consider fit to exercise it.
- Be the main engine to drive the process-based approach. It is the best way of organization to obtain the expected results.
Role in quality management
Top management plays a very important role in the implementation of a quality system, because it will establish objectives and policies to directly or indirectly support the objectives of strategic planning.
These policies must be consistent with the vision and mission of the company. They provide a solid foundation when planning quality objectives.
Another important aspect is that the necessary resources for this management must be immediately available. Plan their delivery and replacement based on the needs and requirements of each of them.
Leadership
Leadership is essential for quality management. It guarantees the achievement of the objectives, aimed at customer satisfaction with the product or service received.
Top management must ensure that they are the primary guide in this process. However, they should not replace the quality department.
Managers must be an active part and encourage the use of the quality system. The intention should be to establish a culture of quality within the group. This will make workers recognize the importance of process optimization. Also the importance of improving quality and customer satisfaction.
Continuous improvement
Because the economic context varies frequently, with variations that can be very small or highly significant, the quality control system offers the support to promote continuous improvement of the process. Senior management is in charge of actively directing and guiding this process.
These rectification opportunities may include changing one strategy for a more effective one, or introducing a new one, which introduces the element of innovation into the quality system.
Therefore, top management must understand the context of the organization, having a clear vision of the strategic direction, culture and goals of the company.
You must also consider internal or external issues, risks and opportunities that may impact the achievement of objectives.
see also finance and business knowledge
