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Encyclopedia > Managing director

Managing director is the term used for the chief executive of many limited companies in the United Kingdom, Commonwealth and some other English speaking countries. The title reflects their role as both a member of the Board of Directors but also as the senior manager. Image File history File links No higher resolution available. ... This Manual of Style has the simple purpose of making things easy to read by following a consistent format — it is a style guide. ... Chief Executive may refer to: Chief Executive of Hong Kong Chief Executive of Macau Chief Executive Officer This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... It has been suggested that this article or section be merged into Limited liability company. ... The Commonwealth of Nations (CN), usually known as The Commonwealth, is a voluntary association of 53 independent sovereign states all of which are former colonies of the United Kingdom, except for Mozambique and the United Kingdom itself. ... In relation to a company, a director is an officer of the company charged with the conduct and management of its affairs. ... Management (from Old French ménagement the art of conducting, directing, from Latin manu agere to lead by the hand) characterises the process of leading and directing all or part of an organization, often a business, through the deployment and manipulation of resources (human, financial, material, intellectual or intangible). ...

The term Chief Executive (or its American equivalent "Chief Executive Officer" or just "CEO") is in general usage in the United Kingdom for the senior executive of public limited companies, charities and Executive Agencies. At subsidiary companies usage is more variable, with managing director often preferred. Chief Executive may refer to: Chief Executive of Hong Kong Chief Executive of Macau Chief Executive Officer This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... The initials PLC after a UK or Irish company name indicate that it is a public limited company, a type of limited company whose shares may be offered for sale to the public. ... // Legal definitions A charity is a trust, company or unincorporated association established for charitable purposes only. ... An Executive Agency is a British public institution that carries out some part of the executive functions of the United Kingdom government, Scottish Executive, Welsh Assembly and Northern Ireland Executive. ... In business, a subsidiary is a company controlled by another company or corporation. ...

Roles and responsibilities

The role of a Managing Director (MD) is to design, develop and implement the strategic plan for their company in the most cost effective and time efficient manner.

The Managing director is responsible for both the day-to-day running of the company and developing business plans for the long term future of the organization. The Managing director is accountable to the board and the shareholders of the company. It is the board that grants the Managing Director the authority to "run" the company.

In addition to the Managing Director, most companies have a Board of Directors. This board usually consists of such posts as: Finance Director, Sales Director, IT Director, Marketing Director, Technical Director and Chairman. In addition to these posts there may be a number of other directors including non-executive directors. In relation to a company, a director is an officer of the company charged with the conduct and management of its affairs. ... The Chief Financial Officer (CFO) of a company is the person primarily responsible for financial planning and record_keeping. ... The Technical Director or Technical Producer (TP) is usually the most senior technical person within a theatrical company or television studio. ... The phrase Chairman of the Board has several meanings: Chairman of the Board is the term used to denote the leader of a corporations board of directors. ...

The Managing Director is a leadership role for an organisation and they fulfill a motivational role for the workers in addition to their more office-based work. MDs motivate and mentor members of the management team and chair meetings. The MD leads the company and develops the corporate culture for the organization.

As the title suggests, the Managing director needs to manage everything. This includes the staff, the customers, the budget, the company's assets and all other company resources to make the best use of them and increase the company's profitability. A customer is someone who purchases or rents something from an individual or organisation. ... In business and accounting an asset is anything owned, whether in possession or by right to take possession, by a person or a group acting together, e. ...

The MD or Senior MD reports to the Board of Directors on a weekly, monthly, quarterly, semi-annual, annual or every decade basis to keep them informed of how the company is doing. The board will offer suggestions and ideas about how to improve the company to the Managing Director. It is the MDs responsibility to implement, improve upon or ignore these ideas.

The MD is legally responsible for the company's affairs, so they must comply with the appropriate rules and regulations set out in company law. These include following the proper audit procedure and not allowing the company to break any trade embargos or dealing in any illegal goods. Corporations law or corporate law is the law concerning the creation and regulation of corporations. ...

Finally, a MD is responsible for devising a succession plan to ensure that somebody is trained to assume the management of the company when the current MD resigns or retires. It is also important in case of unforeseen circumstances, such as the MD having an accident, that somebody else can run the company.

In the United States the term refers to a person in charge of a specific aspect of a business. This can be an officer or Director of the corporation in which the individual is employed.

  Results from FactBites:
Crystone AB prepares for expansion – appoints a new Managing Director (659 words)
Crystone’s new Managing Director, Joakim Frid (43 years old), has broad experience of running IT-operations within the public and private sectors.
Joakim will occupy the role of Managing Director on November 1st 2006, succeeding Runar Hreinsson who is moving on to new challenges.
We are happy that Joakim has decided to occupy the role of Managing Director at Crystone and we have great expectations of him in his impending work.
ICT Excellence Awards, Burlington Hotel - April 25th 2007 (552 words)
Awarded to the ICT professional (individual or team) who demonstrated outstanding management of information and communications technology in their enterprise.
Awarded either for a single major project or for consistent excellence in ICT management in the past 12 months.
Awarded to the supplying company associated with the outstanding ICT project of the year based on Open Source technology.
  More results at FactBites »



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