Lead a company while occupying a seat on its board.
What does a Managing Director do?
Every company needs a leader, someone who holds the vision of the business in her front pocket. This person manages the resources, keeps communication flowing, and takes the heat when things go wrong. In some companies, this role is filled by the CEO (Chief Executive Officer). In other businesses, however, the position is referred to as “Managing Director.”
As a Managing Director, you oversee the company’s employees. That puts you in charge of hiring, firing, evaluating, training, and monitoring the Department Heads, Managers, and Representatives below you in the corporate food chain.
In addition to the workforce, you handle the company’s supplies and production. That involves negotiating with vendors and approving purchases. You’re also aware of any problems, such as delivery delays, equipment malfunctions, and employee unrest.
Since everyone reports to you, you’re in the know about marketing plans, growth projections, and goals for the future of the company. It’s your duty as the Managing Director to make sure all departments are on the same page when it comes to reaching those goals.
Another important aspect of your job is to fill a seat on the board. That position allows you to keep the board informed about changes within the company. Since the board is in charge of voting on major issues, they rely heavily on the information you provide. That’s great news when sailing in prevailing winds, but beware: When times are lean, the board will also make you carry the blame.