If you are reading this- fair chances are that you are already a director or are looking forward to starting your own company and become one. However, you should know that a successful director is a foundation for a successful company.
Thus, it is extremely important to know what it takes to become a brilliant director. Read on to know about some of these extremely significant tips given by John Fuerst.
The most important duty of a director is to direct and control the company’s operations and to give strategic guidance and direction to the board to ensure that the company achieves its mission and objectives.
1. Control the entire work system
According to John Fuerst the main function of a director is to direct and control the work and resources of the company to ensure the recruitment and retention of the required numbers and types of well-motivated, trained and developed staff so that the company is able to achieve its targets as planned.
2. Formation of various corporate plans
A director is also responsible for the preparation of a corporate plan and annual business plan. However merely preparing these plans will do no good- it is essential to monitor the progress of the same. This will ensure that the company attains its objectives as cost-effectively and as efficiently as possible.
3. Act as a good leader
John Fuerst believes when anything goes wrong everybody looks up to the director. It is his duty to provide strategic advice and guidance to the chairman and members of the board.
The director must also keep them aware of developments within the industry and ensure that the appropriate policies are developed to meet the company’s mission and objectives.
4. Maintain customer relations
Customers are the most important asset of any company. Thus, Establishing and maintaining effective formal and informal links with major customers is extremely important. Along with the customers, it is important to have a healthy relationship with various relevant government departments and agencies, local authorities, key decision-makers and other stakeholders.
This makes it easier to exchange information and views and ensure that the company is providing appropriate range and quality of services.
5. Develop and maintain research and development programmes
Research and development are the base for any type of venture. It helps the company to come across various ideas. This is how the company remains at the forefront of the industry and applies the most cost-effective methods and approaches.
Research and development help the company to determine the factors which play a vital role in providing leading-edge products and services and retain a competitive edge of the company.
It is essential to prepare, gain acceptance, and monitor the implementation of the annual budget which ensures that budget targets are met, and the revenue flows are maximized and that fixed costs are minimized.
6. Develop effective marketing and public relations
Public relations are basically the strategy to promote the products, services, and image of the company in the wider community.
The director represents the company in negotiations with customers, government departments, suppliers, and many other key contacts to secure the company in the most effective contract terms. Healthy relations in the market help in developing and maintaining – Total Quality Management systems throughout the company to ensure that the best possible products and services are provided to customers.
7. Provide equal work opportunities to each employee
It is the duty of the director to develop, promote and supervise the implementation of equal opportunities and policies in all aspects of the company’s work.
This can be done efficiently by overseeing the preparation of the annual report and accounts of the company and ensure their approval by the board.
Such supervision also helps to develop and direct the implementation of policies and procedures. This ensures that the company complies with all the health and safety and other statutory regulations.
Author Bio: Amelia Kristen is a Blogger, Passionate Photographer and a Traveler. Being passionate about reading, writing and learning new things, her passion has motivated and inspired her to be a writer. In her free time, she spends her leisure time under the open sky in the lap of nature.