Personal Finance and Professional Management Fundamentals

January 1, 2007

Levels of Management

Top Management

  • Develops and reviews long-range plans and strategies.

  • Evaluates overall performance of various departments and ensures cooperation.

  • Involved in selection of key personnel.

  • Consults subordinate managers on subjects or problems of general scope.

Middle Management

  • Makes plans of intermediate-range and prepares long-range plans for review by top management.

  • Analyzes managerial performance to determine capability and readiness for promotion.

  • Establishes departmental policies.

  • Reviews daily and weekly reports on production or sales. Counsels subordinates on production, personnel or other problems.

  • Selects and recruits personnel.

Supervisory Management

  • Makes detailed, short-range operational plans.

  • Reviews performance of subordinates.

  • Supervises day-to-day operations.

  • Makes specific task assignments.

  • Maintains close contact with employees involved in operations.

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