Management development is the process by which managers learn and improve their management skills. Only training cannot provide the requirement of knowledge, personality, attitude, behaviorism etc. Training focuses on the development of specific skills, especially for middle and lower level employees.
Aims of Planned Management Development:
The primary aims and objectives are:
- To ensure that the company is staffed both now and in the future with a sufficient number of managers with necessary skills, experience and ability to secure continued” growth and profitability the right man/woman at the right time in the right place. Thus, we will have a steady source of competent people at all levels to meet organizational needs at all lines.
- To check that human resources of a company are being properly and fully used and that potential and talent in human terms are neither wasted nor overlooked, and they are offered ample and timely scope to grow, so that both individuals, as well as organizational needs, are adequately met. This will ensure optimum utilization of human capital.
- To provide an opportunity for staff within a company to prepare themselves for higher assignments and to reach their maximum capabilities. The staff should be enabled to fulfill their career expectations by training that will enable them to do a bigger and a richer job which they can get through a sound promotion policy, viz., promotion from within by merit.
In addition, there are many other objectives, such as prevention of managerial obsolescence (becoming out of date) preparation for new business and expansions, to replace old executives with younger talents, to Indianise management, to promote a high morale and good organizational climate, to promote productivity, profits and so on.
Management Development Programme (MDP):
The process of management development begins with top management’s recognition of the need for MDP. Development of suitable policy guidelines and assignment of special responsibility for executing the policy create a favorable climate of on-the-job growth, personal improvement, and development of managers.
A special committee of senior executives will look after planning and guide management development. The personnel manager and special training staff will administer the routine of MDP.
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