Two different ways managers develop
Active participation in formal training courses and
management training programs.
Learn on the job or in the field.
The organization must provide training programs and
development opportunities for its current and potential managers. Routine
training programs such as role plays, conferences, case studies and job
rotation cannot guarantee adequate training for managers. Therefore, it is
essential that these candidates receive specific management training.
The second part of managerial expansion is the effort of the
individual himself. If the person himself is reluctant to make his own efforts,
no training can help. The drive for development must come from within the
individual and therefore the person must recognize the need to train within
themselves first.
Management development has become very critical in today's
competitive environment. Companies that practice tactical planning with
management development are more competitive than other companies.
80% of companies report managerial development programs than
90% offering executive leadership training. Approximately 35-38% of training
budgets are typically spent on management learning and development programs.
Importance of managerial development
Management is an essential asset for an organization.
Although it is an asset that does not appear on the balance sheet, it
influences the progress, growth and profits of the organization.
Management assets are very expensive to acquire, but
compared to other assets, they are inexpensive and have a very high profit
potential. Top management must focus on achieving and maintaining leadership
positions as they influence employee growth.
The success of any business depends on three types of
actions taken by top management in the past. They are:
Methodical and adequate selection of the right people in the
management framework.
Put the right people in the right positions
Make sure these well-placed managers can evolve according to
the expectations and meet the needs of the organization.
Modern companies cannot succeed without planned attention to
the development of top management and management personnel. The knowledge
market is exploding every day with new innovations.
Managers must adapt to new technologies to run
sophisticated, complex, and more dynamic businesses. It will also keep them
informed about the nature of the competition and help them evolve and adapt to
other challenges.
Some of the reasons behind management expansion training
programs are
It is the responsibility of managing to ensure the success
of the organization; therefore, they are at higher risk.
Management cares for people of different backgrounds and
cultures, languages, and other variations. Therefore, management must
understand people and training will help them to achieve this.
Many vital decisions of an organization, such as downsizing,
cost cutting, mergers and acquisitions, production decisions, etc. they are in
the hands of management.
Management must ensure that employees are trained in the
requirements of the job.
The responsibility of management is to ensure that the right
people are assigned to the right positions in the right place.
The manager's job is also to coordinate between employees
and senior management. Messages from the grassroots level should be conveyed in
an orderly manner to senior management so that employees can be heard, and
senior management decisions should be conveyed in an organized manner at the
grassroots level.
It is entirely the decision of management based on intuition
and judgment.
The manager understands the vision, mission, values, ethics,
and other crucial organizational jargon and conveys them only to employees.
For all these reasons, management development programs are
essential. The better they are trained, the better they can handle the
organization's problems and help it grow.
