The Managing Director is responsible for many aspects of the business. Primarily the Managing Director will be responsible for implementing company policy and any changes to it. As the aims of business are focussed towards growth, profits and increasing shareholder return it is the responsibility of the MD to ensure that the company strategy is geared towards this. It is also the role of the Managing Director to convene a Board of Directors and manage any communication between the Board and the Chairperson/Shareholders.
What are the benefits and challenges of the MD role?
The responsibility for growing a business, creating jobs and providing shareholder return whilst making a difference to society can be incredibly satisfying. As well as this remuneration can be significant, not just in terms of salary but also bonuses, company shares and other work related benefits.
However along with such great rewards come challenges. The role will be high pressured and driven towards results. At times it can appear to be a very lonely role, with the Managing Director isolated as the key decision maker. These pressures may also come at a detrimental cost of your work life balance with tight deadlines and work pressure meaning long hours.
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