What is the role of the Hierarchy?

Answer 1

Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively.

The most important part ofmanagementis the

hierarchy design where each member is assigned a specified role.

Hierarchies are the best way to run an orderly and efficient financial organization and to create a secure environment in which people in the organization can collaborate to win.

Members of the hierarchy are helped to establish the controls needed to insure the teams are doing what's good for the larger organization while leaving the teams the freedom and empowerment they need to learn, unite and win.

The highest ranking executives (with titles such as chairman/chairwoman, chief executive officer, managing director, president, executive directors, executive vice-presidents

etc.) responsible for the entire enterprise.

A Senior Manager may usually has the power to hire or fire employees or to promote them. The Senior Manager has the authority to change the work assignments of team members.