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A managing director is a position that is found in the UK and some other English speaking countries. However, the job dutiesare similar to the chief executive of companies in other countries. This is a position that requires a lot of hard work and a fairamount of time in order to get to. Therefore, the role of managing director is one that is very important in business.
What I s I t?
A managing director is the chief executive of a business. The position iscalled managing director in the UnitedKingdom and in a few other Englishspeaking countries. The title meansseveral things. First of all, it reflectsthat the person is the senior manager.Also, it reflects that the person is a member of the board of directors. These two things put together create the role of managing director, and also create thejobduties that comewith this position.There are other types of managing directors as well. Insome investment banks, as well as in other types of financialinstitutions, a managing director is not the chief executive. Itis the head of the major business unit.When the managing director is actually the chief executive–sometimes called the CO or CEO in other countries, they arein charge of public limited companies, as well as charities, andexecutive agencies. Managing director is used more often atsubsidiary companies.
There are several main job duties that the managing directorwill have. First of all, their main job duty is to work on thestrategic plan for the company that he or she is managingdirector of. This requires three main steps. First of all, theymust design strategic plans. This means that the managingdirector is part of the brainstorming process, as well a partof the design process. Secondly, they must be in charge of developing the strategies that have been designed. This mightrequire working in order to create the strategies, and makingsure that they work the right way for the company. Lastly, themanaging director is in charge of implementing the strategies.This often requires the help of workers who have been workingunderneath the managing director.When the managing director is designing, developing, andimplementing these strategies, he or she must do so in themost cost effective way for the company. They must figureout how to best spend and save the company’s money, andthen be sure that each thing they do continues to allow for thecompany to save money.
In general, the managing director is also in charge of theday to day running of the company. This means that theyoversee the managers and the workers, and make sure thateach person is doing what they need to be doing to fulfilltheirown jobduties. They managing director will mostly be incharge of the managers, who are then in charge of the variousemployees. Also, a managing director is responsible fordeveloping a business plan for the organization or company,and for their long term future. This is a lengthy process andis one that is going to be constantly revised by the managingdirector.
The managing director has many responsibilities, but is alsogoing to be accountable for his or her work. The managingdirector is accountable to the board, which means that theyhave to explain to other board members what they have beendoing and why these are the best decisions for the company.They are also going to be responsible to the shareholders of the company. This means that they will need to explain whatthey have been doing to the people who hold stock in thecompany. The board is the group that gives the managingdirector the authority to actually be running the company.
The managing director is one of the highest ranking positions,
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