EXECUTIVE SYSTEM Meaning and
Definition
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The term "executive system" refers to a framework or mechanism within an organization or entity responsible for directing, managing, and overseeing the overall operations, decision-making processes, and strategic initiatives. Primarily found in businesses, governments, and other complex organizations, the executive system plays a crucial role in setting goals, making important decisions, coordinating various departments, and ensuring overall efficiency.
The executive system encompasses a range of functions and responsibilities, including the development and implementation of corporate strategies, financial planning, resource allocation, and monitoring performance to achieve the desired objectives. It entails overseeing the day-to-day operations and ensuring effective communication and collaboration among different organizational levels.
One of the critical functions of the executive system is leadership, where the top executives or executives at higher management levels provide guidance, vision, and direction to the organization. These individuals are typically responsible for establishing the company's mission, vision, and values, crafting long-term goals, and creating policies and procedures that align with the organization's overall strategy.
Moreover, the executive system often involves the management of human resources, including hiring, training, evaluating, and promoting employees. Executives are also responsible for building and maintaining relationships with stakeholders, such as clients, suppliers, shareholders, and regulatory bodies.
Overall, the executive system serves as the nucleus of an organization, orchestrating various activities, managing resources, and making critical decisions to ensure the successful operation and achievement of the organization's overarching objectives.
Etymology of EXECUTIVE SYSTEM
The word "executive" originates from the Latin word "exsecutivus", which is derived from the verb "exsequi" meaning "to follow through" or "to carry out". The term "executive" has been in use since the mid-17th century and refers to a person or group of people responsible for executing or carrying out tasks, decisions, or plans.
The term "system" comes from the Late Latin word "systema", which traces back to the Greek word "sustēma". It refers to a set of interconnected or interdependent components or parts working together to achieve a specific function or purpose. The word "system" was first used in English in the early 17th century.
Therefore, the term "executive system" combines these two terms to describe a set of interconnected components or processes responsible for carrying out tasks, decisions, or plans efficiently and effectively.
