Managing Director
Provide strategic advice and leadership to ensure the success of a business.
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What's it like to be a Managing Director?
A Managing Director is a high ranking manager in an organisation who oversees all business activities. They are excellent strategists who guide the board, and control the company’s resources and workforce in accordance with the vision of the CEO. They also maintain open communication with stakeholders, such as customers, government departments and agencies and local authorities.
Tasks and duties
- Monitoring the recruitment and retention of staff.
- Implementing business strategies for the company’s short and long-term goals.
- Maintaining research and development programs to propel the company towards the forefront of the industry.
- Ensuring that company policies are being followed by other employees.
- Overseeing financial performance and investments, and reporting back to the CEO.
- Supervising the work of executives while providing guidance and direction to boost productivity and team morale.
- Reviewing submitted reports by other managers to reward performance and prevent issues from becoming a company problem.
A Managing Director represents the company in negotiations with prospective customers and other key contacts so they need to have great communication skills to secure contracts.
How to become a Managing Director
There are many ways to become a Managing Director but it’s necessary to have a formal education and years of experience in the industry.
- Complete a bachelor degree in business administration or equivalent, such as finance, accounting, or economics. You should also consider getting a masters degree and/or PhD to develop higher-level leadership, communication and interpersonal skills. If your industry is specific to the arts, medicine or engineering, it may help to complete a degree in your chosen field.
- Gain substantial experience. It takes many years to become a Managing Director. Most Managing Directors were principals or directors in a business for several years before advancing to the role.
- Expand your network and establish your brand. A Managing Director is the public face of the company so getting widely recognised will boost your reputation.
- Find a mentor. They can be a fellow or aspirational board member, or an executive team member, or somebody outside your industry who can aid with your professional development.
Skills and experience employers are looking for
Having the right skills and experience can make you an in-demand applicant. Managing Director employers on Jobstreet are looking for job seekers with expertise in the following areas.
Source: Jobstreet job ads and Jobstreet Profile data
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Latest Managing Director reviews
Jun 2023
Reviewer's Qualification
Master of Business Administration
Experience
1 – 4 years
Organisation size
Small (1-19 employees)
The good things
Able to deal with people with different industries and learn their trades.
It's getting excited day by day.
The challenges
Having too many hours working and staying late nights for many days as well.
Read more
Source: Jobstreet role reviews
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