| Basically, management development is a term | | | | perspective to management as they will know |
| that describes any number of activities that | | | | the working of the company from the ground up |
| reflect a planned effort to enhance | | | | as opposed to managerial talent that is brought in |
| employees’ ability in various individual and | | | | from outside the company. |
| team management techniques. Very simply put, | | | | 2. Employees will feel more loyal towards the |
| management development includes development | | | | company as they will see that the company is |
| of skills such as planning, organising, leading and | | | | also invested in promoting their career growth and |
| developing resources. A key skill for any | | | | progress. |
| employees is the ability to manage their own | | | | 3. Finally, the overall cost of developing |
| work and control their career path. Highly | | | | management talent in-house as opposed to trying |
| motivated and self-directed individuals can gain a | | | | to recruit talent from the outside world will be |
| massive amount of learning and other benefits for | | | | much less. A good management development |
| their organisation by implementing an aggressive | | | | programme may cost during the initial setting up |
| management development programme. | | | | phase, but will not cost much more after that. |
| Management development refers to the process | | | | Individuals who have risen up from the |
| of training and developing managerial talent within | | | | management development programme will be |
| a company or organisation. | | | | happy to volunteer their time and mentor other |
| But why do I need to waste time on training and | | | | employees. In general, a good management |
| development? Why not just hire the people I | | | | development programme will save a lot of money |
| need when the time comes? | | | | for any organisation. |
| Nurturing in-house management talent may not | | | | Management development is a process that |
| seem important, but it is one of the most | | | | begins paying for itself very rapidly. You will begin |
| important aspects of the development of any | | | | to see the creation of a core team of individuals |
| organisation. This is the case for several reasons, | | | | who are committed to the growth and progress |
| some of which are listed below: | | | | of your organisation. In the long run, this can only |
| 1. In-house management development | | | | mean increased efficiency and profitability as the |
| programmes give employees the chance to utilise | | | | management talent in your organisation grows |
| special leadership skills that may posses. These | | | | stronger and stronger. |
| employees will certainly bring an enhanced | | | | |