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Senior management, executive management, or management team is generally a team of individuals at the highest level of organizational management who have the day-to-day responsibilities of managing a company or corporation. They hold specific executive powers conferred onto them with and by authority of the board of directors and/or the shareholders. There are most often higher levels of responsibility, such as a board of directors and those who own the company (shareholders), but they focus on managing the senior or executive management instead of the day-to-day activities of the business. The executive management typically consists of the heads of the firm's product and/or geographic units and of functional executives such as the chief financial officer, the chief operating officer, and the chief strategy officer.[1] In Project Management, senior management is responsible for authorising the funding of projects.[2]
They are sometimes referred to, within corporations, as executive management, top management, upper management, higher management, or simply seniors.
Contents
[hide]- 1Definition
- 2Positions
- 3See also
- 4References