Management Development is best described as the process from which managers learn and improve their skills not only to benefit themselves but also their employing organizations.
In organisational development (OD), the effectiveness of management is recognised as one of the determinants of organisational success. Therefore, investment in management development can have a direct economic benefit to the organization.
Managers are exposed to learning opportunities whilst doing their jobs, if this informal learning is used as a formal process then it is regarded as management development.
In 2004 the spend per annum per manager on management and leadership development was £1,035, an average of 6.3 days per manager.
Read more about Management Development: Approaches To Management Development, Action Learning, Coaching, Management Education
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