Managing directors are high-level executives in companies and corporations and are responsible for directing the company's operations, as well as providing strategic recommendations to its board members; they also manage other employees to ensure that business goals are met.
There is some overlap between the work of CEOs and managing directors, and some businesses use the terms interchangeably. Regardless of the name or specific duties, managing directors have a high level of responsibility within a company in order to guide it toward success, growth, and profits.
The duties of a managing director include directing and controlling the resources of a company, as well as recruiting, training, and terminating staff and delegating their duties. They also create workflow procedures in order to keep track of budgets and expenditures. Leadership skills are essential in this position, and excellent communication skills and public speaking skills are important, as well. The ability to motivate employees and mediate conflicts is also beneficial.
Managing directors must be diplomatic and able to quickly think on their feet. They must have a professional manner when attending meetings with other company leaders, as they represent face of the company to the public and must maintain a competitive image. Most have an undergraduate degree in business, management, economics, or a related field, many years of experience in the business world, and a proven record of company leadership.
Managing directors generally work during traditional business hours in an office environment. Depending on the size of the company, their office may have amenities and a high level of security. Their co-workers include other executive staff, mid- and low-level managers, employees, vendors, and office staff, and they occasionally interact with customers and media, as well.