Explanation :
Top business management usually includes the CEO, CFO, COO, as well as a number of Vice presidents depending on the company. These positions are all considered key management because they have the power to influence and direct company operations, but they are not the only key management personnel in an organization. Every department head and manager can be considered a key manager to some degree because they have influence in planning and directing their departments’ operations.
In a nutshell :
- Key management personnel are those people having authority and responsibility for planning, directing, and controlling the activities of an entity, either directly or indirectly.
- Key management concerns keys at the user level, either between users or systems.
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