The director of a company is responsible for overseeing the company’s day-to-day affairs. While the company’s board of directors hires a secretary to assist the director.
The secretary, as opposed to what the name suggests, is not someone working on a clerical level. The secretary works on the same level as that of the director.
The Director and secretary of a company have important roles and responsibilities and they must work together with coherence to take the company to higher levels.
Some of the most important roles of a company’s Director and Secretary are;
- Developing and Supervising Company’s Business Strategy
The directors and secretaries in general are responsible for developing the company’s business strategy. They do this by participating in the company’s board meetings and advising the board of directors regarding company issues.
Since they are also responsible for overseeing the organization’s day-to-day matters, therefore implementing the business strategy developed with the board of directors also comes under the responsibilities of the director and secretary of that company.
- Preparing and Approving Budgets
The budget plan made for a company differs from the one made for household management. A company’s budget is covering more factors and is more complex to develop.
The company’s budget compares the company’s current profits and expenditures with the profits and expenditures of the previous fiscal year.
It is a forecast for the company’s capital investments and revenue generation.
The development of a comprehensive budget is a difficult but important task. The responsibility of ensuring that it is done soundly also lies on the shoulders of the director and the secretary of the company.
- Implementing the Company’s Policies
A company policy is a code of conduct for the company’s employees and the senior stakeholders. The policy of a company is an essence of the company’s vision and objective. The company’s top management is responsible for the development of a comprehensive company policy
The company policies are in place to ensure a safe and productive work environment while also incorporating procedures to make sure that the company meets its goals and objectives.
The job of the director and secretary of a company requires them to oversee the implementation of company policies to ensure an appropriate work environment and maintain the upward trajectory of the company’s growth.
- Reporting to The Board of Directors.
The director and secretary of the company, aside from being responsible for the company’s operationality, must also report to the board of directors.
They make a comprehensive report of the company’s performance, profit and revenue, investments, and general productivity and present it in the meeting of the directors.
- Supervising Senior Management Staff
Senior management personnel ensures the functionality and productivity of all the departments of the company. The senior management staff is under the supervision of the director of the company who is assisted by the secretary.
Not only do the director and secretary supervise the senior management, but also participate exclusively in the hiring process for any senior management position.
The director is a member of the board of directors but owing to the administrative powers vested in him/her by the board, he/she reports back to the board regarding all the developments relating to the company.
A secretary is also a member of top management and is present side-by-side with the director. Both director and the secretary share responsibilities. They work together to achieve the company’s objectives and report back to the board of directors.
They are responsible to oversee the company’s administrative and financial issues and ensure the smooth running of the company.
Even though they share common responsibilities, yet only the director is ultimately liable by law with regards to the company.