What type of decisions are made by top management?

Top management is primarily responsible for strategic decisions, which involve the long-term direction and framework of the organization. These decisions set the overall objectives and priorities, guiding where the company will focus its efforts and resources over a multi-year horizon. Strategic decisions often include defining the company's mission, vision, and values, as well as determining future growth paths, market positioning, and competitive strategies.

In contrast, operational decisions are typically made at lower levels of management and focus on the day-to-day operations of the business. Tactical decisions bridge the gap between strategic goals and operational execution and are generally made by middle management. Team decisions, while they may involve input from various levels of an organization, do not carry the same weight or long-term implications as the strategic decisions made by top management. This context emphasizes the unique role of strategic decision-making as fundamental to shaping the future of an organization.