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Responsibilities of top management in strategic
management include:
a) Establishing the mission and deciding on the business that the company department or
division should engage in and other fundamentals that will guide and characterize the
business
b) Establishing policies or plans of action, guide the performance of all major activities in
carrying out strategy in accordance with the company’s philosophy.
c) Formulating a company’s philosophy or establishing beliefs and values, attitudes and
unwritten guidelines.
d) Setting objectives or deciding on achievement targets within a definite time range.
e) Developing strategy or concept, ideas and plans for achieving objectives success and meeting
targets.
f) Planning the organizational structure and activities that will help people to work together
towards attaining an objective.
g) Provide personnel through proper recruitment and selection procedures and to develop
people to fill various positions.
h) Establishing procedures, rules and methods, determining and prescribing how important and
recurrent activities will be carried out.
i) Providing facilities including plant and equipment, buildings and other physical facilities
required to carry on the business.
j) Providing capital or money and credits needed as working capital and also for acquisition of
physical facilities.
k) Selling standards that will enable the business to achieve its objectives, establish
management operation or program and place to govern their activities and the use of
resources.
l) Providing and controlling information to help follow strategy policies, procedures and rules.
m) To activate people through a proper motivation procedures and command and influence them
to move towards the attainment of any objectives.
Titany answered the question on October 19, 2021 at 07:55
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