1. The purpose of this study lies in highlighting the cause-effect relation between competence of top management amd growth of the firm by looking into a considerable number of cases and thorough literature survey. In so doing, major functions of top...
1. The purpose of this study lies in highlighting the cause-effect relation between competence of top management amd growth of the firm by looking into a considerable number of cases and thorough literature survey. In so doing, major functions of top management are put forth and traits or competence required to perform the functions are examinaed in detail.
The functions of top management consist of there major ones such as set-up of future direction, strategic decision-making and follow-up of the execution. These functions can be performed effectively only if such traits as ambition, insight, resoluteness, persuasiveness, and ledership are possessed by top managers.
By the way, those traits of competency need intervening elements in order to materialize themselves into growth of the firm. However, the elements like management structure and strategic desion are to be regarded as not just intervening variables but inner factors of top management.
The main three questions of this study are as follows.
· What kinds of traits of top managers are essential to growth of the firm?
· How does the compatibility of certain traits vary with different circumstances?
· What kinds of decision-making methods should be taken by top management to produce desirable outcomes of the company?
2. The meaningfulness of top management study and its possibility are handled in the introductiry part of this article. In Chapter 3, the most important traits of top management for the function of future direction set-up are searched into and in Chapter 4, the fact that different circumstance of the company require different traits top managers of top managers is highlighted.
3. Competence of top management is involved with performances of above-mentioned three major functions. And these functions should br done in compatible ways with varying circumstances of the company.
In this sense, competence or desirable traits of top management cannot be said to be all the same. In a sentence, only "contingent" traits and competence of top management to the circumstances can lead to growth of the firm.
4. Above-mentioned functions of top management invariably demand the ability of information gathering and analyzing, and health. The function of future direction ser-up mainly requires ambition, insight, sense of duty and intuition As far as strategic decision-making is concerned, such traits as belief, resoluteness, tolerance, entrepreneurship and systematic thinking are mostly demanded. And the function of execution follow-up is related to such traits as morals, ability at figures, leadership, sense of responsibility and supervisorship.
However, those traits and abilities are required by each function not in exclusive manner. Some of the traits, for example, belief and systematic thinking are commonly demanded by more than one function.
For reader's reference, this study is one of author's on-going studies on the theme of "factors of firm's growth" which have been done for several years.