An MD is a senior position in the hierarchical structure of an organization that entitles a person to responsibility for the day-to-day operations of a business or organization. MD is an abbreviation for Managing Director.
MD Full-Form | Managing Director
MD Required Skills
- A strong sense of innovation and creativity
- The desire to strive for more and push that extra mile.
- competent enough to succeed in a competitive corporate environment.
- Effective Communication Skills.
- Eagerness for research and development.
- The ability to establish professional relationships with stakeholders
MD Eligibility Criteria
- Age range: 30 to 65 years old
- A graduate, preferably with a higher degree in a management discipline or a professional qualification.
- At least 10 years of experience at the senior level of management of people and resources.
- A proven record of success in senior-level management, preferably in a related industry.
- An understanding of management principles and techniques and financial management.
Appointment of Managing Director
The Board of Directors appoints a managing director for a five-year term that can be extended for another five years.
MD Duties and Responsibilities
- Execution of policies laid down by the Board of Directors
- Plays the role of a liaison officer between the Board of Directors and the rest of the organization.
- Interpret and communicate the objectives and policies of the company to subordinate employees.
- Review the operations of the company and present to the Board of Directors accounts and statistics showing the present position of the company.
- Formulate an employment and compensation plan.
- Recruit employees for top-level management.
- Maintain contact with the stakeholders.
- Formulate a budget to control the deviation, if any, between the actual performance of the company and the planned course of action.
- Responsible for customer satisfaction.
MD Remuneration of Managing Director
A Managing Director or a Whole-time Director of a company is paid remuneration either
(i) By way of a monthly payment, or
(ii) At a specified percentage not exceeding 11% of the net profits of the company, or
(iii) Partly by one and partly by the other.
The other full form of MD is “Doctor of Medicine.” The term “MD” is originally taken from the Latin word “Medicine Doctor”, which means “Teacher of Medicine”. It is the highest level of an academic degree.
After completing MBBS successfully, the candidate needs to qualify for an entrance test to get admission to this course. An MD is a 2-3 year specialized course in the field of medicine and surgery.
Career after MD
Medical doctors are responsible for examining, diagnosing, and treating patients. They can specialize in a number of medical areas, such as pediatrics, anesthesiology, orthopedics, neurology, or cardiology, or they can work as general practice physicians. In addition, a variety of practice settings are available, including private practices, government and private hospitals, public health organizations, the army, and so on.
Some of the famous institutes offering the MD course are:
- Armed Forces Medical College (Pune)
- Institute of Postgraduate Medical Education and Research (Kolkata)
- Lady Hardinge Medical College (New Delhi)
- Madras Medical College (Chennai)
- Grant Medical College (Mumbai)
- Osmania Medical College (Hyderabad), etc.