Question

In the management hierarchy _____ includes managers who set the overall direction of a firm, articulating a vision, establishing priorities, and allocating time, money, and other resources.
Select one:_______
a. first-line management
b. supervisory management
c. middle management
d. top management

Answer 1

Answer:

The correct answer is D) Top management

Explanation:

Top management, as the name implies, consists of those who are at the highest point in the management hierarchy. The most common positions that are part of top managament are, Chief Executive Officer (CEO), Chief Financial Officer (CFO), and Chief Strategist Officer (CSO). They are usually part of the Board of Directors, which answers to the shareholders.

Their task is, as the question specifies, to define the general policy of the company, including goals and strategies to achieve those goals. In a way, companies are just like nations, they have top executives like the president or the president of the senate, who define the direction in which the company/country will go.