Management development may be defined as – company or organization extended or sponsored education, or as training and educating employees of an organization, institution, or industry, to empower them with required skills, authority, and position to be able to manage rapid changes that their unit is likely to face. To define, create, and exploit the organization’s resources in this way requires the managers to possess a portfolio of suitable personal competencies of their own. Creating this portfolio is what management development is all about.
Management development or executive development is a process of developing the managing ability of managers and executives. One should note that the managers and executives are made, not born. It is, therefore, necessary to take up continuous management development programmes to enhance the managerial abilities and skills and insight of the managers and executives.
Managers are the valuable assets of any organisation. They must therefore be retrained for survival and growth of organisation. The increased productivity and total quality depends upon the drive and initiative capacity, core competence, skill and technical knowledge of managers.
The well developed managerial manpower can change the face of the organisation and can take it to any height. The efficient managers are always in short supply. They are to be conserved. To conserve these rare species a rare substantial efforts for their development are needed.
TALENT MANAGEMENT THROUGH MDP
DEVELOPING LEADERS AND MANAGERS POWER POINT SLIDES
anjuthomas@bims 