What does a Managing Director do?
The main purpose of this role is to direct and control the all business operations. A Managing Director is is responsible for giving strategic guidance and direction to the board to ensure that the Company achieves its financial vision, mission and long term goals.
Managing Director Duties
The list of duties can be exhaustive but generally these key functions will apply:
- Give strategic advice and report results and findings to chairman and board members.
- Keep all relevant stakeholders informed of developments online with company’s objectives.
- Manage resources, including the attracting, hiring and retention of personnel.
- Ensure employees move in the same strategic direction to achieve its mission.
- Create and report on business plans, monitoring its efficacy and progress.
- Remain close to all stakeholders including the chairman and board members, staff, clients, key-decision makers and external service suppliers.
- Research and implement new initiatives to drive revenue, lower operating costs while maintain quality products that are competitive, all while delivery excellent customer support.
- Continuous monitoring of the annual budget and ensure that revenue/sales targets are met.
- Manage and report on the effective implementation of a marketing strategy to maintain market relevance and promote products and services to increase sales.
- Manage key personnel, clients and service providers.
- Maintain the quality of products, services, customer support and level of service inline with service level agreements and other retention strategies.
- Promote the wellness of staff and implementing policies inline with labour legislation and health and safety guidelines to create a diverse and positive working environment.
- Preparation of annual reports and attending/presenting at board meetings.
Managing Director Skills
A Managing Director will need a variety of skills. Some of the most important include:
- A proven track record of successfully managing a company.
- Experience in the management senior staff, employees and available resources.
- A high level of business awareness and acumen.
- Understanding the intricacies of financial management and management.
- Excellent Leadership, communication and organisational skills.
- Excellent analytical and problem-solving skills.
- Strong crisis management and conflict mediation skills.
Managing Director CV Must-Haves
As a Managing Director, your CV needs to highlight and focus on your ability to:
- Successfully build and manage a diverse group of employees.
- Achieve company growth projections and targets in a dynamic and competitive environment.
- Manage operations and adapt processes within time and budgets.
- Be a strong team leader with a pragmatic approach in getting the best out of your talent.
- Build and nurture trust with teams, customers and external suppliers.
Managing Director Interview Questions
The title “Managing Director” can be pretty broad. Here’s a selection of high-level questions you might have to answer when you reach the interview stage:
- How did you recently solve a problem at your previous company?
- Has a subordinate ever challenged your final decision? How did you respond?
- Is there something you would have loved to change at your previous company?
- Are you adaptable to sudden change? Give us an example.
- How do you identify problems and opportunities?
- Share with us some insights about our top competitors?
Managing Director Qualifications
Qualifications you will need for this job will vary based on the company size and the industry they operate in. Here’s a selection of qualifications you might need to get the job:
- Degree in a Business/Finance related field.
- Masters or MBA degree would definitely count in your favour.
- A Honours Degree/Postgraduate Diploma.
Managing Director Salaries
Below are the most recent Managing Director salary levels based on actual salary offerings on the CareerJunction website (30 000+ jobs monthly) for the latest measurable period (October 2015 to February 2016).
- Managing Director Executive Level: ZAR 79,441 – 101,758.
Managing Director Resources
Managing Director jobs in South Africa
Institute of Directors Southern Africa
Managing courses in South Africa
Written by CareerJunction
