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
Famous quotes containing the words management and/or development:
“Why not draft executive and management brains to prepare and produce the equipment the $21-a-month draftee must use and forget this dollar-a-year tommyrot? Would we send an army into the field under a dollar-a-year General who had to be home Mondays, Wednesdays and Fridays?”
—Lyndon Baines Johnson (1908–1973)
“If you complain of people being shot down in the streets, of the absence of communication or social responsibility, of the rise of everyday violence which people have become accustomed to, and the dehumanization of feelings, then the ultimate development on an organized social level is the concentration camp.... The concentration camp is the final expression of human separateness and its ultimate consequence. It is organized abandonment.”
—Arthur Miller (b. 1915)