The Role of the Managing Director course is aimed towards newly appointed Managing Directors, those aspiring to the role, or those looking to improve their performance with fresh insight from leading professionals. It is also appropriate for those who are currently operating at a different function across their organisation, and are contemplating a Managing Director role in the future. The Role of the Managing Director has been designed for executives, managers, and senior stakeholders from across the public, private and not for profit sectors.
The Role of the Managing Director course is designed to equip you with the tools and knowledge to carry out this crucial and complicated position. Through attendance, you will be taught how to engage with the wider corporate aims of the organisation, ensuring that the linked marketing strategies are aligned to that of the broader piece.
Attendance at the Role of the Managing Director course will help you become a future leader. It will arm delegates with the knowledge and practical skills required for developing, implementing and proactively leading and managing a successful organisation.
The course will cover the key skill set of a Managing Director:
- Visionary leadership
- Ability to motivate a workforce
- Effective management and delegation
- Communication and negotiation
- PR and presentation skills
- Understanding of a multi-faceted business operation
- Strong financial acumen
- Planning and forecasting
- In depth knowledge of markets and changing business environments
- Complex problem solving
- Effective decision making
Objectives of the course will include:
- Development and implementation of the company’s strategy.
- Leading and motivating a successful organisation.
- Effectively managing change at any given time.
- Understanding the Managing Director’s position alongside and compared to the aims and objectives of the Board.
- Successfully implementing company policy
- Building and maintaining an effective management team
- Assuming full accountability for the Board for all company operations
- Maintaining a dialogue between Shareholders and the Board
- Staying in control of the company’s finances.
- Understand good corporate governance
- Separating the roles of the Chair and the Managing Director.
- Understanding the challenges of managing the strategic and operational responsibilities
On completion of the module, delegates will have a strategic understanding of the roles and responsibilities of a Managing Director
- Strategy Setting: The Managing Director is responsible for setting the strategy of the company, both short and long term.
- Recruitment: to deliver the strategy it is vital that a company-wide team is recruited to achieve the goals.
- Communication: The Managing Director has responsibility for ensuring that company goals are communicated effectively both internally and externally.
- Networking: It will be vital for the Managing Director to represent the organisations out in the community at a variety of networking events and conferences.
- Leadership: The company’s workforce will perform against the leadership standards set by the Managing Director.
- Ideation: An element of creativity is vital for any Managing Director to come up with new strategies for the arena in which they operate.
- Performance Management: With success derived from the workforce’s performance, it will mean that the Managing Director has to take responsibility for any underperformance.
- Governance: The Managing Director’s centrality in ensuring the effective governance of their organisation.
Exploring the roles and responsibilities of the Managing Director
- The MD’s role in setting the direction of the business
- Performance management and organisational development
- Statutory obligations and governance
- Financial control
- Quality and process improvement
- Public relations and marketing
- Defining the organisation’s mission and objectives
- Creating a strategy / corporate plan
- Engaging the management team in the development of operational and functional plans
- Bringing the strategy / corporate plan to life
Developing Effective Systems
- Defining and measuring KPIs
- Organisational design and building high-performing teams
- Creating a performance management framework
- Quality systems and process improvement
Building financial control
- Developing a deliverable budget and scenario planning/stress testing
- Setting and managing financial targets
- Variance analysis and reforecasting
- Establishing financial policies & procedures and building financial awareness within the organisation
Managing in an Evolving Environment
- Understanding the external environment
- Competitive advantage through horizon scanning
- Leadership thinking and its role within the organisation and in public relations
Crisis Management in Action
- Risk management and the balance between preventative and remedial control
- Business continuity and disaster recovery planning
- Responding to a crisis
- Dealing with the media
The World of Leading in a Digital Age
- The Fourth Industrial Revolution and its impact upon business
- The changing profile of a successful leader
- Approaches to innovation and considering new technologies
- Managing relationships with the Board and with your teams in an uncertain world
The role of the managing director training course is aimed at aspiring, newly appointed and established Directors, senior managers and executives. This course can be used by established Directors as a way of improving their current knowledge and performance within the organisation.
Upon successful completion of the course, you will receive a certificate in The Role of the Managing Director.
About the role of a Managing Director
The Managing Director is the most senior management role in a company or division. With ultimate responsibility for the organisation’s performance, the Managing Director will report to the Chair and shareholders, whilst leading a management team.
The Managing Director is responsible for many aspects of the business.
Primarily, the Managing Director will be responsible for implementing company policy and any changes to it. As the aims of business are focused towards growth, profits and increasing shareholder return, it is the responsibility of the MD to ensure that the company strategy is geared towards this. It is often the role of the Managing Director to convene a Board of Directors and manage any communication between the Board and the Chairperson/Shareholders.
On a secondary level, there are a number of other responsibilities that the Managing Director may have. The Managing Director will be responsible for representing the company in public at events or with the press. They will be responsible for leading, coaching and mentoring other board members and supporting their professional development. The MD will work alongside other board members to identify operational performance measures and will require an understanding of finance related issues in order to analyse company performance.