A managing director is a senior-level executive that generally focuses on business development, employee recruitment, and client retention. These professionals are employed in a wide variety of industries. Managing directors generally have bachelor's or master's degrees in addition to significant work experience in their chosen fields. Managing directors work with other top-tier executives to oversee the operations of companies and organizations across a variety of industries, such as banking, healthcare, marketing, advertising, information technology, and government. They may establish new business contacts, interact with clients, and recruit employees. Managing directors might develop strategic marketing and sales plans to boost profits and efficiency. They may also coordinate the efforts of various departments, such as legal, finance, marketing, and sales, to meet company goals. Some managing directors oversee other managers or department heads, and they often report to top executives and boards of directors. Managing Directors are responsible for overseeing the activities of a specific department or even an entire organization. In some companies, the term Managing Director and CEO are interchangeable depending on the size of the business and its organizational structure.
Your primary objective as Managing Director is to ensure that all business goals are reached. Other responsibilities include guiding and monitoring the overall workflow of the organization from a high-level perspective. The Operations Management course explains how this applies to your role as a Managing Director.
Managing directors are extremely important to the overall health of a company. Although the work can be demanding, you can expect to be paid very well for the work that you do and there is typically no shortage of opportunities assuming you are qualified to become a Managing Director.
• Direct the activities and productivity of a department or entire organization.
• Provide training and guidance.
• Delegate duties such as typing, copying, and scanning.
• Hire, terminate, and train staff.
• Create schedules.
• Work with the Assistant Director to sustain and grow programs and service.
• Manage administrative functions to ensure smooth and efficient operations of the organization.
• Support the organization's strategic alliances and partnership.
• Ensure performance goals are met and set.
• Fulfill duties delegated by C-suite staff.
• Attend and preside over meetings.
• Participate in strategic planning.
• Represent the organization to the public, key stakeholders and business partner.
• Plan and implement the annual calendar of activities including fundraising initiatives, special events and the official administrative acts.
• Help create budgets and track expenditures.
• Create presentations for meetings.
How to become Managing Director?
Top executives typically hold undergraduate or graduate degrees in business administration or another specialized field relevant to the industries in which they work. November 2011 job postings for managing directors on Monster.com and CareerBuilder.com noted that employers usually require applicants to hold at least bachelor's degrees, though some employers prefer candidates with master's degrees. Additionally, employers often require technical expertise and experience relevant to their specific company or industry. You are required to make significant financial decisions for the organization on a daily basis. Everything from approving purchase orders to vendor selection falls on the shoulders of the Managing Director. For this reason, a solid foundation in business economics is required for this position. Economics Without Boundaries teaches business economics for executives.
Much of your communication will be through email. Although internal emails can be less formal, when you email clients there is an expectation of professionalism in your correspondence. Writing Effective Business Emails demonstrates tactics you can use to communicate with anyone through email.
Likewise, verbal communications are just as important in this position. Not only will you be speaking directly with other members of management and lower-level employees, but you will frequently speak directly with clients. Speak More Smoothly, Fluently, Clearly & Confidently helps you develop strong verbal communication skills that apply in the business world and in your personal life.
You may be required to speak publicly when representing the company to stakeholders, the public, and business partners. Effective public speaking is an entirely different skill which you can learn more about in Public Speaking the Fearless Way.
Knowledge, skills and abilities
• Knowledge of leadership and management principles as they relate to non-profit/ voluntary organizations
• Knowledge of all national and state legislation applicable to voluntary sector organizations including: employment standards, human rights, occupational health and safety, charities, taxation, CPP, EI, health coverage etc…
• Knowledge of current community challenges and opportunities relating to the mission of the organization
• Knowledge of human resources management
• Knowledge of financial management
• Knowledge of project management
Median Pay Scale/salary of Managing Director :
A Marketing Director earns an average salary of Rs 2,468,691 per year. Most people in this job have more than five years' experience in related jobs. A skill in Strategic Marketing is associated with high pay for this job. Pay for this job rises steadily for more experienced workers, but goes down noticeably for employees with more than 20 years' experience.
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