A management team, senior management, executives, upper management or any management team in a company is usually a group of people at the topmost level of management of an organisation who have the most day-to-day duties of running that particular organisation, either a business or a large corporation sometimes even a government agency. The term ‘managers’ was first used in the United States during World War I for the topmost management of the military forces. These were then called ‘chiefs’ or ‘chieves’. Since their role has become more generic, today the term management team applies to any leader of a team who has a key responsibility for the success or failure of that team.
Different types of management teams exist and are led by different leaders. Some of the most common types of management teams include: general or supervisory management teams; marketing, financial, engineering or service management teams; human resources management teams; manufacturing management teams; project management or scheduling management teams; and project management or productivity management teams. The leaders of each team may have different skill sets and qualifications as well as different backgrounds in their areas of responsibility. Some managers excel in one particular area of the business, while others have experience in many different areas.
Management team goals are very specific and often include short and long-term strategic objectives for the company. These objectives must be defined, discussed, and agreed upon by the senior management. A management team will take a brief description of the company’s current situation, scope of operation, and future goals and objectives and develop specific short, intermediate, and long-term plans. They may want to expand, contract, reduce costs, or change product specifications. Once the short-term and intermediate goals are decided on, the teams will develop more detailed plans for meeting these objectives. This plan is then used as the basis for the management’s overall efforts to achieve the goals and objectives over a period of time.
Often when the senior management is involved in this process, it is called a “top team” versus a “work force” or “real team.” The reason this distinction is made is based on management’s perception of what the best personnel are. Leaders believe that the best people are those who are able to make difficult decisions quickly, are excellent problem solvers, and possess a positive work ethic. Real team members, on the other hand, are often seen as having the same characteristics as their bosses. Leaders need to consider whether their management style fits with those of their best employees while treating the others as equals.
In order to make sure that everyone on a management team truly fits into their defined management team styles, there are several things that organizations should look at. One way to test the management team styles is to ask each person to stand in a spotlight and lead a discussion amongst themselves. Then, they should evaluate how well they handled themselves and how the other team members felt about the situation. This can help managers pinpoint which management team style works best for them.
Another way to test the leadership role of the individuals is by hiring a formal leader for the real team, which consists of the entire workforce. The leadership role of the formal leader should be considered first before any leadership role among lower level workers. This ensures that they understand their place in the hierarchy, and what they can expect from the rest of the staff. On top of this, leaders need to ensure that the team members feel like they have a role within the larger structure of the company, with clear expectations of their relationship with the leaders of the company.
In some cases, management may find that they need to adapt their leadership style based on the nature of their specific organizations. For example, in hospitals, doctors often lead medical teams, while nurses usually lead nursing teams. If these two groups operate under the same organizational structure, such as a hospital, a change in leadership style would not be as radical as with a collective working group. However, most companies find that collective efforts are more effective than individual efforts when it comes to real teams.
Top management teams can also make use of consultants to assess how their specific organizations are performing. These consultants can take a look at productivity, profit levels, customer satisfaction, and other important metrics. By looking into these areas, top executives can see where they need to make changes in their leadership style to improve overall performance.
Jesse Pitts has been with the Global Banking & Finance Review since 2016, serving in various capacities, including Graphic Designer, Content Publisher, and Editorial Assistant. As the sole graphic designer for the company, Jesse plays a crucial role in shaping the visual identity of Global Banking & Finance Review. Additionally, Jesse manages the publishing of content across multiple platforms, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune.