A business executive is the person responsible for running an organization, however the exact nature of the role varies depending on the organization. Executives are run by companies or government agencies. They create plans to help their organizations grow. Becoming an executive usually requires years of promotions and hard work, as qualifications for this role require hard-working individuals with years of experience in multiple aspects of the business. These positions include Chief Executive Officer, Department Store Manager, and Small Business Operator. Executives are responsible for their organization. They create and review goals for the company. They work with a high level staff or a team of assistants. This team may have long and short-term plans to achieve these goals. Once the plans are set up, executives make sure the company is abiding by the changes. They do this by meeting with the managers of all departments and obtaining progress reports. Executives are usually elected by the owners, shareholders and board of directors of the organization. The term usually refers to the person who runs the organization or who is engaged in a high-level management role of a corporation or company, the founder, owner, or majority shareholder of the organization.
The duties of executives depend on how many people are on their staff. Some executives are overseen by general managers in various fields. In large organizations, they may lead an area such as marketing, finance or legal services. For example, in the financial sector, executives may be instructed to buy or sell land or other investments. The executive is a force responsible for making things run smoothly. If you become an executive, you may be in charge of an organization, a business, or an entire country. The executive of a company has the best office and works on ways to make their business more successful. and so an executive carries out plans and actions. Executive is also an adjective that describes having the power to make decisions. The president of the United States is the executive branch of the government and is responsible for executing laws that will improve the country for its citizens.
What are the different Kinds of Executives?
1. Real and Nominal Executives
2. Single and Plural
3. Hereditary, Elected and Nominated
4. Political and Permanent Executives
5. Parliamentary and Non-Parliamentary
Management
The primary function of management is to bring people together to achieve the goals and objectives of an organization. Management is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Since organizations can be viewed as systems, management can also be defined as human action, including design, to facilitate the production of useful outcomes from a system. This view opens the opportunity to manage oneself, a pre-requisite to attempting to manage others. Management is needed in order to facilitate a coordinated effort toward the accomplishment of an organization’s goals. While most positions and departments in a business perform specific tasks based on specific knowledge, expertise or company needs, managers can take on broader and more complex responsibilities. Rather than just specific knowledge, management requires the ability to navigate multiple procedural, structural, and interpersonal challenges in the process of leading one’s team to accomplish different goals. Management is the process of guiding the development, maintenance, and allocation of resources to attain organizational goals. Managers are the people in the organization responsible for developing and carrying out this management process. The four primary functions of managers are planning, organizing, leading, and controlling. By using the four functions, managers work to increase the efficiency and effectiveness of their employees, processes, projects, and organizations as a whole.
Importance of Management
Ø It helps in Achieving Group Goals
Ø Optimum Utilization of Resources
Ø Reduces Costs
Ø Establishes Sound Organization
Ø Establishes Equilibrium
Ø Essentials for Prosperity of Society
Executives and management are two indispensable positions.it has its own role to play.
