The key position of top-level management is _______.

The correct option is Managing Director.

In any organizational structure, management is typically divided into three levels: top-level, middle-level, and lower-level (supervisory) management. Each level has specific roles, authorities, and positions associated with it.

1. Top-Level Management: This level consists of the board of directors, chief executive officers (CEO), chief financial officers (CFO), and the Managing Director. They are responsible for defining the overall goals, policies, and strategic direction of the entire organization.
2. Middle-Level Management: This level includes departmental heads and division managers, such as the Production Manager and the Marketing Manager. They act as a bridge between top management and lower management, focusing on executing plans to meet departmental targets.
3. Lower-Level (Supervisory) Management: This level comprises frontline supervisors, foremen, and Plant Supervisors who directly oversee the operational workers and day-to-day production activities.

Therefore, among the given choices, the Managing Director is the key position belonging to top-level management.