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. techwadia

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."

  

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