What Does a Managing Director Do?
Quick Answer
A managing director is in charge of developing new business for the firm, ensuring customer satisfaction, employing and retaining workers and briefing the board of directors on the development of the firm. He wins and maintains new clients and also creates harmonious working conditions for all employees within the firm. A managing director runs the business on behalf of the board of directors.
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Full Answer
A managing director conducts and implements new strategies that are important in increasing the company's profits. He acts as the chief salesman by contacting new clients and presenting proposals aimed at winning new business. After winning the clients, he addresses their concerns in order to create positive business relationship. Managing directors stay informed of new development in the industry and recommend new strategies that are helpful to the growth of the company. They oversee the recruitment and retention of new employees. It is the role of a managing director to search for new and experienced talent and conduct thorough interviews in order to find the best-suited employee. Apart from employment, managing directors ensure all employees work under healthy working conditions in order to maximize on their productivity. The crucial role of a managing director is briefing the board of directors on the company's progress. All recommendations made members of the board of directors are based on the managing director's report.
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