Senior management

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Senior management , executive management , or management teams are generally the individual teams at the highest management level of organizations that have day-to-day tasks managing the organization - sometimes companies or companies.

Video Senior management

Overview

Executive managers hold certain executive powers delegated to them with and by the authority of the board of directors and/or shareholders. Generally, higher levels of responsibility exist, such as boards and those with companies (shareholders), but they focus on managing senior management or executives rather than on the day-to-day business activities. The executive management usually consists of the product head and/or geographic unit of the company and the functional executives such as chief financial officer, chief operating officer, and chief strategy officer. In project management, senior management approves project funding.

Senior management is sometimes referred to, within the company, as executive management , top management , upper management , higher management , or just senior .

Maps Senior management

Top management team

The top management team (TMT) is a specific form of team that usually consists of several top managers in a company. However, there is no clear definition of what an organization's top management team is. This is unified by the Chief Executive Officer (CEO) to do a particular task. In doing this task, the team generally has a much higher responsibility and enough autonomy than other teams.

Possible tasks include

ensure the organization is effective and successful by taking responsibility for implementing the right strategy that the organization can adapt,
effectively manage the demands of stakeholders,
provides a clear definition of what is effectiveness and success,
ensure strategy implementation and resource targeting to success
review whether their actions are relevant to the organization's overall goals.

The way TMT is put together and working together as a team can be very different from other teams. This is primarily based on the fact that top managers have succeeded as individuals who often lead to a focus on the goals of functional teams rather than working independently on common goals. TMT consists of top managers from different functional areas of the company, so they usually have different areas of expertise. Diversity and team heterogeneity can have a positive effect on teamwork. However, there are also negative effects that must be overcome as a team like not appreciating different opinions and perspectives. A CEO modeling behavior and ensuring the team has clear goals and clear goals can do just that. It also reduces the influence of social categorization as it leads to team members who are more focused on their common goals than on their differences.

The exchange of information during the cooperation process is important for TMT as it is for all other types of teams. To work effectively, teams need to understand how to communicate, share information, set goals, provide feedback, manage conflicts, engage in joint planning, coordinate tasks, and solve problems collaboratively. The CEO plays a key role in enabling the team to do so. He must take responsibility to train the team and reflect on their work. In their research in 2005, Simsek and colleagues found that primarily the collective orientation of a CEO had a positive influence on teamwork behavior. The collectivism orientation means that the CEO places his own subordinates for group interests and goals, emphasizes sharing and teamwork and improves teamwork processes relevant to tasks such as gathering, processing and interpreting strategic information. This in turn enhances a process called behavioral integration developed by Hambrick (1994). This illustrates the extent to which a group, here the top management team, engages in mutual and collective interaction.

Hambrick divides the concept into three parts:

(1) the level of collaborative behavior within the team,

(2) the quantity and quality of information exchanged and

(3) emphasis on joint decision making. TMT can face many difficulties that are primarily derived from their individual views and strong opinions. It is therefore imperative that teams work through these conflicts, creating a safety climate, keeping their vision and mission in mind and building a work environment appropriate for themselves and the organization.

ERS completes senior management team - BestAdvice

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References

Source of the article : Wikipedia

Senior management

Sabtu, 02 Juni 2018