What's it like to be a Managing Director?
A Managing Director is a senior position in a company, with responsibility for overseeing the company’s performance. They give an organisation strategic guidance to ensure long-term goals are achieved. The Managing Director leads a board of directors, and reports in to the chairperson and shareholders.
Tasks and duties
- Giving strategic advice and reporting on progress to chairperson and board members.
- Managing assets and resources.
- Continuously monitoring budgets and ensuring that targets are met.
- Developing and managing business plans, and monitoring implementation.
- Developing company policies.
- Developing strategic plans.
- Maintaining a dialogue between shareholders and the board.
- Building and maintaining an effective management team.
- Assuming accountability to the board for all company operations.
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How to become a Managing Director
- Complete a Bachelor degree.
- Consider gaining a Master of Business Administration (MBA).
- Undertake the professional director training course with the Australian Institute of Company Directors (AICD).
- Gain relevant work experience and develop expertise in business, leadership and decision-making.
- Finding good mentors, undertaking a Board induction as well as completing professional training specific to the role of a Director should be considered essential steps for all new Directors.
- Having strong technical expertise which you can confidently demonstrate, as well as strong leadership skills are also vital. It may take many years to develop these skills and experience.
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