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What are the importance of executive or management development?
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Joined: Sep 2010
(1) Shortage of Trained Managers—There is a shortage of trained managers and it is very difficult to recruit and select the qualified managerial personnel to man the various managerial jobs from the labour market. Therefore, it becomes necessary for the organisation to develop the talented and able employees through a systematic development programme and maintain an inventory of executive skills to meet the future demands.
(2) Complexity of Management Jobs -The growth of company form of organisation which claimed the separation of ownership from management, has widely recognised the peculiar skill demanded or a manager. It has contributed the belief that management is a complex job, calling for certain skill, knowledge and attitudes which can only be learnt by systematic development programme. It is why the management has now been developed as a science and recognised as a distinct branch of knowledge. Management Development programmes have been developed by the various universities, college and institutes where the science as an art of managing the people is taught.
(3) Technological and Social Changes—Rapid growth of technological and social changes in the modern society has made it imperative to develop the executive talent to cope with these developments. These changes have been brought by various factors like automation, computers, intense market competition, Government controls, awakening of labour, change in the concept of labour etc.
(4) Social Responsibility of Management.— Social responsibility of management has widely recognised by the business leaders because of the changing social philosophy. The increased management task and leadership responsibilities arising out of social and technological changes has made the executive development absolute necessary.
(5) Unending Process—Executive development is an unending process. It is not a 'one-shot' affair. It must continue throughout the management career, otherwise an acceptable management of yesterday will not be acceptable today and an executive of today will no' be good enough for future. In order to be dynamic and to meet the future challenges, a manager should continually educate himself.
It may be concluded that management development programme is absolutely necessary for the success of any organisation. The better management, better are the results or the organisation. It is a continuous process to develop the skill of the person and maintain the desired managerial manpower to meet the new challenges.
