Managing Director : The Executive Of The Company

1666 Words7 Pages
The highest ranking executive of the company is the managing director. He is responsible for the overall performance of the company and is tasked with developing and implementing a strategy that drives the company forward with effective operation and profitable growth. He does this by building and maintaining a capable management team and by closely monitoring and comparing operational and financial results to forecasts and budgets. In addition to day to day oversight, the director must calculate an operating strategy that steers the company towards its long term objectives, taking appropriate corrective action where deviation occurs. He is also usually the executive chosen to personally represent the company to important customers and professional bodies. Finance department The finance department is responsible for tracking all transactions of the business. It must balance cash flow to ensure there are enough funds available to meet the day to day payments. This is helped by efficiently controlling credit extended to customers, ensuring payments are received on time, and that the payment policy for the company’s suppliers is strictly adhered to. As well as short term financing they will also work closely with upper management to prepare the organization’s budgets and forecasts which provide information to assist managers when making important strategic plans, for instance which markets or projects to pursue return on investment timescale for large purchases. This
Open Document