Final answer:
The level responsible for monitoring the daily activities of a business is operational management. These managers handle day-to-day operations, unlike middle or production management, which focus on strategic decisions or production, respectively. Modern businesses, like a restaurant, have specific roles to maintain efficiency and order within the company.
Step-by-step explanation:
In a business hierarchy, the level that is responsible for monitoring the daily activities of the business is operational management. These individuals or the operational management team focus on the day-to-day operations of the company, ensuring that business activities are executed efficiently and effectively. This is in contrast to middle management, which generally deals with more strategic and less day-to-day decision-making, service workers who are responsible for executing specific services, and production management which focuses on the production aspect of a business.
Just as a restaurant has a structured hierarchy ranging from the top chef to servers and janitors, with a business manager overseeing the economic aspects, modern businesses divide tasks across different job roles. Even within a simple business environment, there's a clear distinction between the operational tasks and management roles, ensuring that the business runs smoothly and productively.
Understanding the hierarchy of authority is crucial in a business setting, as it delineates the structure within which employees and managers work. This structure is imperative for maintaining order, ensuring accountability, and facilitating efficient operation within the company.