Lords had many things to do.
One, they had to manage their kingdom's economy, deal with politics, and decide how to punish criminals.
Two, they had to maintain a strong military force and a defensive stance in case of war.
Three, they had to make sure wages were fair, jobs were steady, food was being produced, and resources were being gathered to further build his kingdom.
The lord had many very serious responsibilities and was responsible for almost everything in his kingdom.
I hope this helped. Have a great day!