What is executive development in HRM?
Executive development refers to the programs in place to help develop an executive employee's, or potential executive employee's, performance, skills, or competencies.Executive development refers to the programs in place to help develop an executive employee’s, or potential executive employee’s, performance, skills, or competencies. Most commonly, executive development programs are specifically for leadership skills, meaning they are usually employed for executive-level members of the managerial team, or possibly simply the highest level member of management, regardless of whether they qualify as executive. Occasionally, executive development programs are employed before the employee is hired, and the state of their application depends on the result of the development plan. While the term “executive†is often used vaguely, it technically only refers to the top 5 or 10% of an organization.
What is executive development program?
Executive Development Program Defined
An executive development program focuses on many aspects of leadership, business and management, including new technological developments.The program helps professionals develop new and enhance old skills in many areas of business, including strategy, finance and negotiationsAn executive development program focuses on many aspects of leadership, business and management, including new technological developments. Programs vary in length, but typically range between 1 and 3 weeks. The program helps professionals develop new and enhance old skills in many areas of business, including strategy, finance and negotiations. The program also provides theory-based concepts and several courses that give students hands-on learning opportunities to practice their leadership and management skills. Specific skills or abilities that business professionals can acquire through an executive development program include:The executive development program is designed for executives in management positions in any industry. Professionals can take the program to build their business and leadership skills and to stay on track with developing technologies and business strategies. Different executive development programs focus on different executives. For instance:
What are the objectives of executive development?
Executive development will help managers build the skills and gain the knowledge they need to boost performance today, and sustain it into the future. The objective of executive development is to help managers exploit their full potential through sustainability in performance.Executive development is management development: a process of learning and growth that managerial personnel undergo. They then apply the skills, knowledge, attitudes and insights they learn to work in the organization. The whole idea of executive development is for managers to not only apply the skills and competencies learned in their present role, but also to prepare for future managerial roles -- of a wider scope and a higher difficulty level. Executive development is an ongoing process because managers are expected to grow from strength to strength.Managers in their early career are high-potential candidates for executive development. Companies train them and prepare them to assume higher levels of responsibility at a later stage. Part of the training is to increase global awareness and business knowledge. Executive development trains managers to explore and develop their capacity to exercise leadership responsibilities. Companies consider managers who possess the potential to integrate and apply learning the right candidates for executive development.
