MD is a senior position in the hierarchical structure of an organization which entitles a person with the responsibility of the daily operation of a business or an organization. Managing Director is the Full Form of MD.
MD Full Form | What is the Full Form of MD?
- A Strong Sense of Innovation and Creativity
- The Desire to strive for more and push themselves that extra mile.
- Competent enough to succeed in a competitive corporate environment.
- Effective Communication Skills.
- Eagerness for Research and development.
- Ability to Build Professional Relationships with stakeholders.
- Age – 30 years – 65 years
- A Graduate preferably with a higher degree in a management discipline or a professional qualification
- At least 10 years of experience in 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 five years which can extend for a period of another five years.
Duties and Responsibilities
- Execution of policies laid down by the Board of Directors.
- Play 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 periodically accounts and statistics showing the present position of the company.
- Formulate employment and compensation plan.
- Recruitment of employee for top-level management.
- Maintain contact with the stakeholders.
- Formulate Budget to control the deviation, if any, of the actual performance of the company against the planned course of action.
- Attentive towards consumer satisfaction.
Remuneration of Managing Director
A Managing Director or a Whole-time Director of a company pays remuneration either
- By way of a monthly payment, or
- At a specified percentage not exceeding 11% of the net profits of the company, or
- Partly by one and partly by the other.
The other full form of MD is a Doctor of Medicine. The term MD is originally taken from the Latin word “Medicine Doctor” which means “Teacher of Medicines”. It is the highest level of an academic degree.
After completing MBBS successfully, the candidate needs to qualify an entrance test to get admission in this course. MD is a 2-3 years specialized course in the field of medicine and surgery.
Career after MD
Medical doctors are entitled to examine, diagnose and treat 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. Also one can avail a range of practice setting like a private practice, government and private hospitals, public health organization, army etc.
Some of the famous institutes undertaking the 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.