Bizcovering

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The Chief Operating officer – COO is a member of top level Management.

The paragraph is about human nature and the need of competition in an economy.

It might be useful at this point to enter a warning against any search for “a typical organization”. There is, admittedly, a broad common pattern of organization to be found in the average British companies. A Board of Directors represents the owners (shareholders) and carries a corporate responsibility for the objectives, the policy and the overall progress of the enterprise.

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In most cases, these contributions to policy from the members of the organization will be co-ordinates by and focused through the Managing Director, as the one-half of this two-way channel of contact. If there is to be effective interpretation of policy into instructions for executive action, there must be a single source of reference. This, in fact, is the purpose of the office of Managing Director: the individual holding it is at once a Director sharing in the corporate responsibility for determining objectives and policy, and the chief executive in command of the lines of management responsibility leading down to operations.

Turning from background considerations as to the nature of the management process and the difficulties that have beset the serious study of it by reason of terminological confusions, it is appropriate next to give attention to major factors that will underlie the effective application of that process. In due course, an attempt will be made to determine certain “principles” upon which such effective practice can be based, but there are first two specific aspects that call for comment, namely, “policy” and “organization structure”.

Financial management entails scheduling for individual or an industry activity to guarantee a helpful cash flow. It includes the supervision and safeguarding of financial assets. Besides, financial management covers the method of identifying and managing risks.

Focus more on the product rather than the process of expanding the market.

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