What is a management team
A management team is a group of influencers of a company
created for a long or short period to help the owner make and implement decisions
regarding the activities of the entire company.
Management team
However, not all members of the management team should be
considered as having the same status as the senior manager. Yes, they have
enough authority to make management decisions, but essentially none of them is
a manager in the full sense of the word, so they are assistant managers.
Management team characteristics
1) It is created to help the owner or the CEO around whom it
is grouped.
2) All participants are involved at the highest level and
all participants, without exception, have access to virtually any information
related to company operations, including confidential information.
3) There is no hierarchical interaction style
(supervisor-subordinate relationship). As a general rule, more informal
relationships are adopted in the management team .
4) Despite the democratic corporate culture , there is still
an accountability factor within the management team. After all, the members of
the management team are not always business partners who share in the benefits
of the company. Most of the time they are hired as senior managers with a
certain salary. But regardless of financial motivation, team member risks and
team responsibility remain.
5) Evidence of team members. Although initially it is
expected that the management team will not be created forever, but for a
certain period of time, for example, for the implementation of a specific
project, it is not recommended to modify the composition of the participants to
achieve effective cooperation. People must get used to each other, learn to
understand each other, take into account the individual characteristics of each
person, only under these conditions is a cohesive team formed.
Purpose for which a management team is created
The functions of the management team are as follows:
• Development
of future-oriented solutions (planning, possible marketing strategies in the
market, changes in the organizational structure, appointment or dismissal of
key employees, etc.). Current work should not be done. This is explained by the
fact that the working time of each member of the management team is too
expensive compared to the remuneration of the employees whose duties include
these issues.
• For
collective decision making . It usually takes the form of a vote. This is the
reason for the existence of a management team, since it is possible to observe
any situation or problem more objectively and make more balanced decisions.
• For
mutual benefit . Any management team is made up of narrow specialists, who are
professionals in a particular field. The approximate composition of a
management team can be as follows: CEO, CEO, CFO, Commercial Director, etc.
It is very difficult for one person (manager) to move in all
areas of business. If there is someone you can trust and listen to a reliable
opinion, the management is always faster, better and more efficient. After all,
there are no "universal geniuses", and for the benefit of the
business you must be able to "divide and rule."
