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EXECUTIVE DEVELOPMENT

PROGRAMME [edp]

EXECUTIVE DEVELOPMENT PROGRAMME [edp] SUBMITTED BY:- MUNESH KUMAR SHARMA JECRC SCHOOL OF MANAGEMENT

SUBMITTED

BY:-

MUNESH

KUMAR

SHARMA

JECRC

SCHOOL

OF

MANAGEMENT

Abstract:-

Tough and uncertain business environment has consequently resulted in swift changes in the business environment and the modern business world demands quality, ethics and excellence, properly injected into the organization at the level of person, process, product and services. To cope with these changes, core competency is identified and leverage for success and all this is made possible through competitive, skilled and professional executives. This kind of changing management requires training and development i.e. executive development. Executive development should not be viewed just as a capital investment and asset building for the future but also as a tool of employee motivation and retention. It helps contribute in job satisfaction and creates new roles and functions for existing employees of the organization. Therefore, the basic purpose of executive development program is to promote managerial performance by imparting knowledge, changing behavior and enhancing professional and attitudinal skills. Hence the knowledge is the need of the 21st century due to changing business environment not only in India but also globally.

Introduction:-

“Executive

Development

is

an

ongoing

systematic

process

that

assesses,

develops, and enhances one’s ability to carry out top-level roles in the organization.

It is a scientific process for executives to enrich their knowledge and skills , so as to make them competent to manage their organization effectively. It aims at developing conceptual and human skills of executives through organized and systematic procedures. The process is designed to help the executives focus on issues as identifying and modifying the impact of an executive’s management style on an individual and teams, more rapidly and effectively adapting change, establishing individual development needs, and the key dimension of executive performance EDP is the process of equipping people with the tools, knowledge and opportunities they need to develop themselves and become more effective. This process helps executives to address behavior or issues that are impending their own job effectiveness. Executive development programme helps executives strengthen management and leadership skills, increase company profitability, develop succession planning to ensure company sustainability, and receive customized training geared to their company’s needs. Today, it is the growth that makes one person stay at the company. The opportunity and challenges is what keeps a person satisfied and charmed with his job. Companies have understood this fact and therefore are forming policies and procedures to develop their employees.

Executive development may be referred as systematic process of growth and development by which the managers develop their abilities and managerial skills to manage. It is the result of not only participation in formal courses of instruction but also of actual job experience. Executive development programs can be organized in various situations i.e. on-the- job or off-the-job in the company or out side the company. It involves the use of many techniques e.g. decision-making skills, interpersonal skills, job knowledge, organizational knowledge, general knowledge by special courses, meetings, conferences, group discussion ,

seminars , get together etc. These techniques of executive development program are deployed by executive trainers, specialists, external trainers and educationists.

Evaluation of executive development programs literally means the assessment of value and work. Therefore, evaluation of executive development program may be defined as an attempt to obtain feedback on the effects of development program, which helps to improve future development programs on the basis of current experience. The important tools of evaluation of executive development programs are observation, rating, trainee survey and trainee interviews, job satisfaction, morale, promotions, results of behavioral changes such as increased sales, increased productivity and efficiency. The vitality of a business enterprise is largely dependent upon the vigorous men who manage. Great organizers build great dream-like enterprises with their dynamic leadership. Henry Ford once said “Take out my machine, take over my building and capital but leave my men, again I shall become Henry Ford.” The generation of such dynamic leadership is the crucial concern of the sample private organizations, which occupy the commanding heights in the Indian economy. This requires very efficient and effective management of the process of growing executive leadership in the private organizations and how well this is accomplished today will determine the future of the private organizations in the economy. The term Executive Development is used essentially as an indication of a complex process of “raising managerial ability in order to improve the effectiveness of management actions”. Executive Development is the planned experience, guided growth and training opportunities provides for those who perform the management functions. This includes all members of management from the president through all supervisory levels and staff personnel. Executive development is an attempt to promote managerial performance by imparting knowledge, changing attitudes and increasing skills of managers. For the past few years the focus of the executive development has been shifting from preparing managers to fill higher level positions to preparing them to meet the challenges of managing in a fast paced environment. Therefore, the emphasis is on developing a manager’s ability to learn and make decisions under conditions of rapid changes. The ultimate aim of such development program is of course, to enhance the future performance of the organization itself. By executive development programs, an executive gets unprecedented growth and has come to acquire an added relevance and a more central role in business operations and enterprise management. Development programs offer a window of opportunity and provides a platform for young executive development professionals to present innovative and new ideas that could further stretch the envelope for executive development, besides also helping to devise effective strategies for cracking perennial evaluation issues of the development programs like retention and compensation patterns, improvement in taking the managerial decisions and skills, value creation in employee-employers relationships and bridging the generation and gender gap. Executive development is an in-depth professional intervention, which enhances managerial functioning through multiple interactions with key executives, one-on-one or in groups. Development is more effective when it includes senior level officials, as it then helps change mind-set, and influence behavior throughout their organizations. It is customized to the specific needs of employees, is based on on-the-job experience, has direct application to work situations and thrives on the feedback of participants. The exercise involves continual guidance, follow-ups and learning. We can define the executive development as “The process of helping an executive ‘develop’ by turning his day-to-day work situations into learning opportunities, in a planned

manner and by helping him reflect on the learning to become more capable than he previously was.” However, misconception about this kind of development programs still persists. In our country development program is confused with mentoring and is looked at in a very negative manner. It is often kept a secret, which goes against its prime objective. Executive development program usually involves three parties – the instructor, the trainee and the employer, who pays for the service. It is different from conventional training, which often does not have long-term benefits, and also the mentor hired does not feel the responsibility to execute the core values. Some main elements of development program include ‘Active Listening’, ‘Powerful Questions’, and ‘Direct communication’. The first priority for an instructor is to have an assessment done at the simplest level so that the preferred way of developing can gauged and the best results achieved. Developing a leader can help, change his style and behaviour and this can further enhance the effectiveness of his team. This method is also beneficial for small and budding companies to move ahead and grow in a well-planned manner. But the question arises that why a sudden need for development program? Development program helps an executive to reflect on his performance in a specific area with the assistance of an informed, objective instructor. The focus is not only on using the knowledge and skills but also on reviewing attitude and approach. Management of most Indian companies which are striving to become major players in their sectors are immersed in day-to-day issues and often do not devote adequate time and effort to build long-term strength in their organizations. The executive developer or instructor is the catalyst encouraging and supporting the CEO and his team to build an effective management. Executive development program embodies professionalism in executives through correct, deliberate and objective application of knowledge, skills and attitudes towards the accomplishment of a set of objectives. The concept of executive development program is not new to the world. It has flourished in the US and produced magnificent outcomes. However, in our country, development program of executives is still in its formative stages. The Indian mindset needs to change to adapt to this practice. A limited number of organizations have made use of this development programs. It needs to be understood that development program is not always a remedial measure but more of a developmental technique. The experience of US and the European companies shows that executive development delivers a better return on investment than other investments in capacity building. Research indicates a spectacular improvement in performance after the development program. A more intensive use of development program will be a cost-effective way to improve the competitiveness of Indian companies in global markets. By doing an intensive study on the various parameters to evaluate the effectiveness of the executive development programs the researcher concluded that the executives are the dynamic life-giving element in a business. The caliber and performance of managers will largely determine the success of a business. If the business wants to improve the quality of its managers, it must make a considerable investment on its human resource and introduce imaginative and systematic development schemes for them-in which managers themselves play a crucial role. All enterprises need to devote great attention to the continuous supply of their future managers, both functional and general. Executive development program is an investment in human resource with a promise of better returns in future. A company’s executive development program pays dividends to the executives and the organization by leads to enhance profitability and more positive attitude towards profit

orientation. It improves the job knowledge and skills at all levels of the organization. At last, the researcher concluded that the executive development programs will return values to the organizations in terms of increased productivity heightened morale, reduced costs, greater organizational stability and flexibility to adopt the rapid changing business environment.

Objectives of EDP :-

The purpose of executive development program is to develop the knowledge, skills and attitudes in the executives of the organization, which in turn, make them more effective and productive in their jobs and also increase their potential for higher jobs. It is not enough to procure high talents. It is also necessary to develop available talent in proper direction.

Development program gives the executives extra energy and motivation at work. The professionalism of its management and their ability is to create and re-create company’s corporate values in the attitudes and behaviors of employees. This is a vital but intangible element in the company’s continuing success. In the field of Human Resource Management, the training and development function is part of rather than separate from mainstream management responsibilities, and plays a crucial role in maintaining the high quality of a company’s employees. Executive development programs are planned learning experience that teaches the executives how to perform their current as well as future jobs more efficiently and effectively. Executive development programs are designed to improve the organizational performance through enhancing knowledge and skills of the executives. It is essential that all the activities relating to executive development programs should be in time with the specific needs of both the organization and the executives. Identifying the development program needs thus forms the major crux in any organization .A variety of development programs are available and used by development institutions and organizations.

The programme of executive development aims at achieving following purposes: -

To increase function knowledge in specific fields in which the executives works ,like marketing, production ,finance personnel etc.;

To increase proficiency in different management techniques like work study ,inventory control ,operation research, quality control etc.;

To stimulate creative thinking for improving methods and procedures.

To understand different function in a company.

To develop the ability to analyse problems in one’s area or function.

To sustain good performance of managers throughout their careers by exploiting their full potential.

To understand economic, technical, and institutional forces in order to solve business problems.

To acquire knowledge about problems of human resources.

To think through problems which may confront the organization now or in the future.

To develop responsible leaders.

To inculcate knowledge of human motivation and human relationships.

Enhancing managerial skills of executives to enable them to shoulder higher responsibilities in the future.

Enable executive to understand managerial concept and techniques relevant for formulating and implementing strategies in different functional areas.

Enable executives to communicate effectively with subordinates and top management people.

Importance of EDP :-

Executive development is important for the following reasons: -

Executive development programmes are required to train and develop professional managers.

It helps managers to develop skills to face cut throat competition.

It enables managers to face problems related to technology and institution.

It helps in developing better relations with the labors.

Executives need training and education to understand and adjust to changes in socio- economic changes.

Executive development is required to broader the outlook of managers.

Benefits of Executive Development Programme :-

Networking takes place between executives.

More cohesiveness between team members .

Positive effect on the bottom line .

More patience and better understanding of another department’s limitations .

Skill and knowledge enhancement is substantial .

Executives develop the right attitude .

Characteristics of EDP:-

The characteristics of executive development are as following: -

1. A continuous process :-

It is an ongoing and never ending exercise .It should encompass the entire professional career of executives. Executive development is a long term process as managerial skills can not be developed overnight.

2. A knowledge updating activity :-

The imperative need for management development should be appreciated as there always exists a gap between actual and potential performance. This, therefore, provides scope for continuous improvement in all functional areas. Executive development programsalways attempt to bridge this gap enriching the functional capacity of executives , continuously updating their knowledge and skill. The gap between potential and actual capacity is always high for executives across the world as knowledge and skill can never get plateaued.

3.

A vehicle for attitude change :-

Human behavior is dynamic . Its complexity can only be appreciated once executive development programs are attempted to understand the behavioural and attitudinal aspects through simulating sessions. Better interpersonal skills is an important prerequisite for managerial success , which can be assured through such properly designed Executive development programme.

4. A stimulant to higher competence :-

Unless executives are stimulated to the intricacies of managerial stress and strain through different executive development programmes ,their full potential cannot be exerted for the benefit of the organization .Executive development programmes can be designed considering such issues like employee’s motivation , habits, age-mix , pattern of conflict and chaos ,and this can enable elevation of managerial functions of the executives during the post training face.

5. A deficiency improver :-

Executive development programmes are catered to the individual requirements to improve the functional deficiencies of the individual executives ,thus enabling the organization to derive immediate benefits from such programmes.

6. A self-development process :-

Executive development facilitates self-development of executives ,as they learn many things through action learning methods ,sharing the experiences of each other in a simulated classroom atmosphere.

Key

having an effective executive development framework in a business:-

in

elements

that

are

essential

1. Accountability :-

Executive development programme works because the person being developed holds him or herself accountable and responsible for the results. People who benefit from programme are people who want to be developd. They keep an open mind as they think critically through the information that has been generated in and around them. They are prepared to listen honestly to the feedback, even if at times this may be uncomfortable and confronting for them. Insights about their performance gleaned from psychometric instruments and tools and input from others who work alongside them serve as valuable sources of information.By thinking through the issues and using their coach as an honest broker, effective business owners and managers are able to interpret the information, assign meaning to it and develop a plan around what to do. They take responsibility for their subsequent words and their actions.

Executive development programme is particularly well suited for successful people who are already performing at a high level of competence. They are self-motivated; they desire to

achieve at a higher level; they have the necessary drive for learning and taking personal responsibility for managing both perceived and real gaps in performance as a means by which they raise the bar toward excellence.

2. Direction :-

Effective development is part of an integrated and planned approach to achieve business objectives and results. The tasks to be undertaken are measurable and achievable. People being coached incorporate their new learning into practical results that further the objectives of the business.

In successful businesses, the development function is outlined as part of the small business plan and integrated into the developmental culture of the business.The direction of development is determined by achieving agreed results through having individual development plans that are tied back to corporate plans at the strategic level. These are reviewed on an ongoing basis so that development is seen as a never-ending task.

Effective business owners and managers are always learning themselves, and they see this learning as part of the continuous improvement cycle of the business.Often, individual development interventions reveal and uncover structural barriers to an individual achieving high performance within the business itself. Breakdowns in systems, processes, policies and so on may need to be addressed, within the business itself, for the individual to perform at a higher level.

Development at the executive level in this sense becomes everyone’s responsibility, within the high performance business culture, in terms of developing plans that will remove such barriers to performance.It is worth noting that Dr. W. Edwards Deming, the father of the quality improvement approach, said that 85% of so called ‘people performance’ problems are caused by structural issues in and around the person concerned.

3. Openness :-

Development is a business proposition. The demand for open communication and ongoing learning in relationships between people in successful businesses informs the changes that need to be made by the individual.

This calls for strong relationships and straight talking at the business owner and management levels. Remember, development interventions are a function that is primarily for the benefit of the business, not the person being coached.This being the case, the whole business must create a supportive, collegiate environment of mutual respect, where truth telling is the norm.

Performance issues and behaviors are the focus. Proposals for courses of action are talked through and discussed openly so that an individual’s particular strengths are enhanced and their weaknesses are managed and compensated for within an overall team context.Development is not about ‘fixing’ people. It is about getting high performance business results. People being

developed in high performing businesses self manage and self correct around the issues being raised with them.

Executive development programme is not therapy. It is not financial, medical advice or counselling. If people need these kinds of interventions, they should be referred to trained professionals in those fields

Process of EDP :-

The process of executive development is as follows:-

1.

Analysis of development needs :-

First of all the present and future development needs of the organization are ascertained. It is necessary to determine how many and what type of executives are required to meet the present and future needs of the enterprise.

2.

Appraisal of the present managerial talent :-

A qualitative assessment of the existing executives is made to determine the type of executive talent available within the organization.

3. Inventory of management Manpower :-

An inventory of qualified personnel should be prepared and a selection for the various development programmes should be made. Such inventory will provide all necessary personnel data regarding the individuals qualified for development.

4. Planning individual development programmes :-

Each one of us has a unique set of physical, intellectual and emotional characteristics. Therefore, development plan should be tailor-made for each individual.

5. Establishing training and development programme :-

The HR department prepares comprehensive and well conceived programmes.

6. Evaluating developing programs : -

Considerable money, time and efforts are spent on executive development programmes. It is therefore natural to find out to what extent the programme’s objective has been achieved.

Methods

or

techniques

of

executive

development :-

Planning EDP deserves utmost attention and importance .These objectives of the programme need to be defined at the outset .Objectives may be either to impart knowledge and skills for more effective functioning of the manager in their present positions or may be equip them for holding higher position in future. Most of the organizations through adequate career planning, work out promotion path for the managers .Unlike career planning programmes for non managerial employees, which shows such career progression path in similar or allied job families, EDP may even chalk out career planning for executives in different functional areas cutting across departmental barriers. Good EDPs are carefully planned so as to give responsibility to each executive to prepare a replacement for him in successive grades

The various techniques of executive development may be classified into two broad categories: -

On The Job Techniques :-

1.

Coaching :-

In this method , the superior guides and instructs the trainee as a coach. The coach or counselor sets mutually agreed upon goals, suggests how to achieve these goals, periodically reviews the trainee’s progress and suggests changed required in behavior and performance.

Coaching method offer several advantages: (i) It is learning by doing. (ii) Every executive can coach his subordinate even if no executive development programme exists.(iii) Periodic feedback and evaluation re a part of coaching. (iv) It is very useful for orientation of new executives and foe developing operative skills. (v) It involves close interactions between the trainee and his boss.

Coaching method , however , suffers from certain disadvantages: (i) It tends to perpetuate current managerial styles and practices in the organization. (ii) It requires that the superior is good teacher and guide. (iii) The training atmosphere is not free from the worries of daily routine. (iv) The trainee may not get sufficient time to make mistake and learn from experience.

Coaching will work well if the coach provides a good model with whom the trainee can identify ; if the both can be open with each other , if the coach accepts his responsibility fully ,and if he provides the trainee recognition of his improvement and suitable rewards.

2. Under Study :-

An understudy is a person selected and being trained as the heir apparent to assume at the future time the full duties and responsibilities of the position presently held by his superior.In this

way, a fully trained person becomes available to replace a manager during his long absence or illness, on his retirement, transfer, promotion or death. The superior routes much of the department work through juniors ,discusses problems with him and allows him to participate in the decision-making process as often as possible.

Understudy method provides many advantages: (i) The trainee receives continuous guidance from the senior and gets the opportunity to see the total job. (ii) It is practical and time saving due to learning by doing. (iii) The trainee takes interest and shares the superior’s workload. (iv) The junior and the senior come closer to each other. (v) It ensures continuity of management when superior leaves his position.

Understudy method, however, suffers some disadvantages: (i) It perpetuates the existing managerial practices. (ii) As one employee is identified in advance as the next occupant of a higher level managerial position , the motivation of other employees in the unit may be affected. (iii) The subordinate staff may ignore the understudy and treat him as an intruder without clear authority and responsibility. (iv) Under an overbearing senior , the understudy may lose his freedom of thought and action. The success of this method depends upon the teaching skills and cooperation of the superior with whom the understudy is attached.

3. Position Rotation :-

It involves movement or transfer of executives from one position or job to another on some planned basic. These persons are moved from one managerial position to another according to

rotation is also called job rotation. The aim is to broaden

knowledge, skills and outlook of executives. Job rotation or position is often designed for junior

executives. It may continue for a period ranging form six months to two years.

Job rotation method offer following advantages: (i) It helps to reduce monotony and boredom by providing variety of work. (ii) It facilitates interdepartmental cooperation and coordination.(iii)It infuses new concept and ideas in to elder personnel. (iv) Executives get a chance to move up to higher position by developing them into generalists. (v) Best utilization can be made of each executive’s skills.

Job rotation method suffers from following disadvantages : (i) Job rotation may cause disturbance in established operations. (ii) The trainee executive may find it difficult to adjust himself to frequent moves. He may feel insecure in the absence of stable interpersonal relationship. (iii) The new incumbent may introduce ill-conceived and hasty innovations causing a loss to the organization. (iv) Job rotation may demotivateintelligent and aggressive trainees to seek specific responsibility in their chosen specialization. (v) It may cause jealousy and friction due to the game of musical chair’.Job relation can cause class destinations and misunderstanding, executive who are not moved may develop defensive reactions. (vi)It may upset family and home life when transfers are made to different geographical areas.

the rotation schedule

Position

Ensure high return on investment

Broaden horizons

Increase the knowledge pool

Enable better coordination and efficiency

4. Project Assignments :-

Under this method a number of trainee executives are put together to work on a project directly related to their functional area. The group called project team or task force will study the problem and find appropriate solution. For instance, accounts officers may be assigned the tasks of designing and developing an effective budgetary control system. By working on this project, the trainees learn the work procedures and techniques of budgeting. They also come to learn the interrelationship between accounts and other department. This is a flexible training device due to temporary nature of assignments.

Sometimes a syndicate of team consisting of persons of nature judgment and proven ability is constituted. It is given a task properly spelt out in terms of briefs and background papers. Participants represents different functional areas to facilitate interchange of ideas and experience. Each syndicate prepares a report to be discussed by other executive group.

5. Selected Readings :-

Managing has become a specialized job requiring a close touch with the latest developments in the field. By reading selected professional books and journals managers can keep in touch with the latest research findings, theories and techniques management. No executive can afford to rely solely on others to keep in informed on innovations in management.

Reading of current management literature helps to avoid managerial obsolescence. Selective readings constitute an individual self development programme for executives. Many organizations maintain libraries for their executives and managers are encouraged to continually read and improve their skills.

6. Multiple Management :-

The technique was developed by Charles P. McCormick of the McCormick corporation of Baltimore, USA. Under it, a junior board of young executives is constituted. Major problems are analyzed in the junior board which makes recommendations of the Board of Directors. The young executives learn decision-making skill and the Board of Director receives the collective wisdom of the executive team. Vacancies in the Board of Directors can be filled from the junior board members who have received considerable exposure to problems and issues.

Committees and union boards offer the following advantages : (i) The participants gain practical experience in group decision-making and team work. (ii) The committee or board contributes to the productivity and human relations in the organizations. (iii) The method helps to identify executive talent. Board rating system provides multiple judgment on each individual.(iv) It is relatively inexpensive method.

The method suffers from some disadvantages : (i) Specific attention to the developmental needs of executives is not possible. (ii) The method is not suitable for lower level executives. (iii) The discussions in committees and board often degenerate into academic debates. There is lack of purpose and commitment on the part of participants.

Off The Job Techniques :-

1. Lectures :-

These are formally organized talks by an instructor on specific topics. Lectures essential when technical or special information of a complex nature is to be provided. These can be supplemented by discussion , case studies, demonstrations, audio-visual aids and film shows.

It is very useful when facts, concepts, principles, attitudes and problem solving skills are to be taught. More material can be presented within a given time by any other method.

The lecture method , however suffers form the following limitations: (i) Lecture is a one -way communication .There is no participation and feedback from the audience (ii) The audience loses attention quickly as they are passive listeners. The focus is on accumulation and memorization rather than on application of knowledge. (iii) It requires a great deal of preparation and speaking skills for which executives may lake time. (iv) The presentation of material has to be geared to a common level of knowledge. (v) It becomes unpalatable to the audience when too much information is packed in the lecture.

Lecture method can be made effective in the following ways:-

(a)

A lecture should be well planned as to its purpose and contents.

(b)

The lecturer should be competent and a good speaker.

(c)

He should keep in mind the listener’s needs and interests.

(d)

The lecture should not be more than one hour.

(e)

The lecture should be made interesting through leading questions ,guided discussions and audio-visual aids.

2. Case Studies :-

Under this method , a real or hypothetical business problem or situation demanding solution is presented in writing to the trainees. They are required to identify and analyse the problem , suggest and evaluate alternatives courses of action and choose the most appropriate solution.

Advantages of this method : (i) It promotes analytical thinking and problem solving skills. (ii) It encourages open-mindedness and provide a means of integrating interdisciplinary knowledge. (iii) The trainees become aware of managerial concept and process and their application to specific situations.(iv) Detailed descriptions of real life situations helps to create trainees interest.

Case study method suffers from the following advantages : (i) A case may degenerate into a dreary history undermining analytical reasoning.(ii) It may suppress the critical faculties of mediocre trainees. (iii) The case may be used indiscriminately as permanent precedents. (iv) It is time saving and expensive to prepare good case studies. (v) A real life case may not be useful in different cultural situations.

3. Group Discussion :-

It is a variant of lecture method under it – paper Is prepared and presented by one or more trainees on the selected topic. This is followed by a critical discussion. The chair man of discussion or seminar summarise the contents of the papers and discussion which follows. Often the material to be discussed is distributed in advance. Seminars and conferences enable executive to learn from the experience of each other and have become quite popular.

4. Role Playing :-

In this method the trainees act out a given role as they would in a stage play. Two or more trainees are assigned part to play before the rest of the class. Thus , it is a method of human interaction which involves realistic behavior in a imaginary or hypothetical situation. Role playing primarily involves employer employee relationships, hiring, firing, discussing a grievance procedure, conducting a post appraisal interview or disciplining a subordinate or a sales man making a presentation to a customer.

5. Management Games :-

Management or business games are designed to be representative of real life situation. These are classroom simulation exercise in which teams of individual compete one another or against an environment in order to achieve a given objective. In this exercise ,the participants play a dynamic role , and enrich their skills through involvement and simulated exercise. Management games can be of interactive or non interacting types. In the interacting types of games, the decisions of one team influence the performance of other teams. In the non interacting games each team is independent and its performance entirely depends upon its on competence.

Advantage of the method (i) It has to analysis and collect the relevant data from a mass of information and also helps to decide with incomplete data. (ii) It is useful in developing problem solving skills (iii) It helps in developing leadership skills and in fostering team work.

Disadvantages:- (i) It is very difficult and expensive to develop and implement goods game. (ii) The games are artificial because in real life executive are rewarded for creating new alternatives rather than for choosing from a given list of alternatives. (iii) The trainees who are successful in these games may not be successful of the job.

6. Sensitivity training :-

This method is also called T-group training and laboratory training. He purpose is to increase self awareness. Develop inter personal competence and sharpen team work skills. The trainees are brought together in a free and open environment where in participants discuss themselves. The discussion is lightly directed by a behavioral expert who creates the opportunities to express their ideas, beliefs and attitudes.

The following steps may be taken to make sensitivity more effective: (a) The trainer must be able to translate emotional situations into constructive consequences. (ii) The participant with motional suitability and high tolerance for anxiety should be selected.(iii) The programme should be strictly voluntary. (iv) The participant should be told in advance what they are going to be experience. (v) A mechanism for transferring the learning to the work situation should be created.

Principles of Executive Development :-

Top management should accept responsibility for executive development .A senior executive should be made incharge of initiating and implementing the company ‘s executive development programmes.

Every manager must accept direct responsibility for developing the executives under his control on the job.

Executive development programs must be geared to the need of the company and the individual.

Executive development begins with the selection of the right man for executive development programmes at the entry levels.

A definite strategy spelling out the objective s, coverage and type of executive development programmes should be formulated.

A realistic time schedule for the development of executive personnel should be prepared keeping in view the present and future needs of the organization.

In view of knowledge explosion and the consequent threat of executive obsolescence , development programmes should be available for every executive .

An organizational climate , conductive to Executive development should be created . In such a climate manager At all level encourage and guide the development of subordinate executives opportunities are provided to last and experiment with new concept and practices. A feeling of self confidence genuine faith in development and willingness to accept change are essential element of proper organizational climate.

Learner’s participation in essential for development and spoon-feeding seldom brings significant of long lasting growth.

Feedback should be made available to the learner so that he can take step to improve in self , there is always opportunity for improvement due to gap between actual performance and capacity

Programs for Executive Development :-

These programs fall into two broad categories: those internal to an organization and those external to it.

Some corporate houses designed their own executive development programme for their executives. In the private sector, Tata management Development Centre (TMDC)at Jamshedpur conducts such programmes for Tata executives .In the public sector , Steel Authority of India Ltd. (SAIL) has its full-fledged executive development centre at Ranchi. Kirloskar group, Reliance group and Lakshmi group(Chennai) have developed their own executive development centers to train their executives on general and organization specific issues. In addition ,in-house training division of the business houses are also developing requisite infrastructure to train their executives ,in an attempt to reduce their dependence on outside agencies.

The second classification is external programs : These are the programs which are conducted by outsider institution to train other organization’s executives. In India many professional institutes are organizing executive development programs.

Institutes offering Executive Development Programme in India :-

Administrative Staff College of India

Management Development Institute

Indian Institute of Management

Quality Management International

National Institute of Training in Industrial Engineering

All India Management Association

Indian Society for Training and Development

National Institute of Personal Management

These institutes

conduct

different

development

problems of the corporate world.

programs

for

executive

to

different

emerging

The content of an EDP includes areas

such as :-

1.

Strategic Management :-

Components, logical process and contents of strategic management, i.e.analysis, formulation, implementation and control; the integrative nature of strategy; the impact of increasing environmental turbulence; e-business and application of real-time strategy; driving strategic change.

2. Strategic Marketing :-

Marketing trends in the new economy; the contribution of marketing to the strategic management process; online marketing strategies; measuring marketing success and efficiency.

3. Financial strategies :-

Financial management and value creation; under-standing financial statements; driving financial performance; making value-creating investment decisions; the drivers of cost of capital.

4. Economies – A Global Perspective :-

Building blocks of an economy; quantification in economic reasoning; markets in the economic process; macroeconomic perspectives; money and financial markets; role of the public sector; international trade and finance; what scope for economic policy?

5. Leverage Human Capital :-

An exploration and definition of the drivers of competitive human resources strategy and workplace practices; evaluation of the imperatives for developing sustainable improvements in human resources competitiveness; the development of organizational responses to competitive status and formulation of appropriate human resources strategies.

6. Developing Strategic Leadership Competencies :-

The role of leadership in the organization; realities of business leadership roles; strategic high performance leadership in practice; managing organizational culture; aligning context, roles and competencies for leadership effectiveness; the role of emotional intelligence.

7. Strategic Leadership :-

The role of leadership in the organisation; realities of business leadership roles; strategic high performance leadership in practice; managing organisational culture; aligning context, roles and competencies for leadership effectiveness; the role of emotional intelligence.

8.

Coaching as Managerial Instrument

9. Winning Negotiation Strategies

10. Systems Thinking

11. Sustainability in a Corporate Environment

12. Business Ethics and Corporate Governance

13. Commercial Effectiveness

14. Various Guest and Speakers and Industry Visits

Arguments in Favor of Programs :-

The arguments in favor of a company's sending promising young men to one of these executive development programs seem to rest on three sorts of things:

1. After a man has been out of college for 15 or 20 years (or perhaps never went to college) he needs to be brought up to date on the latest trends in management thinking and theory.

2. One of the primary benefits a man receives from attending one of these programs is not from the university facilities or faculty at all, but from his association with other businessmen-students. The exchange of ideas in discussion groups, seminars, and especially in the after-hour bull sessions can be invaluable.

A man may listen with polite attention while a professor expounds on modern social communication theory and its relation to administration, but he really becomes interested when he discovers for the first time that a competitor has installed an "administrative communication section" in its organization.

3. When a man is making the transition from, say, engineer to administrator, he needs a chance to get away from the pressing demands of the day-to-day affairs of the business for a-while in order to reflect on the changes that must take place in his thinking if he is to become a successful executive.

Why EDPs fail :-

Most of the business organizations fail to provide an environment which can be encourage, nurture and promote the growth of executive development, i.e., a climate which can

support it rather than oppose. Following reasons may be listed to failure of executive development programmes :

1. Purpose of the executive development efforts inmost of the organizations are often characterized by insincerity .They conduct it as an a matter of ritual rather than a systematic one. Some organizations also arrange EDP for their executive only to enable them to enjoy a paid vacation.

2. Some organizations are too much concerned to get the immediate benefits of EDPs. They always concern themselves with the immediate pay-out and select EDPs which are designed only to impart business like knowledge rather than giving philosophic ideas or conceptual insights.

3. Organizations retain the service of consultant and professionals trainers to conduct EDPs for their executives .Such an arrangement often suffers from difficulties , happenings in the organizations , as such professional trainers and consultant do not get adequate information about the functioning of the organization for whom the programs are designed. Due to absence of interaction with such outside agencies, EDPs suffer from major limitations like impracticability in introduction, irrelevance, etc.

4. In some cases ,lessons imparted in EDPs are in direct conflict with the philosophy of the organization. Such incongruence ,therefore ,becomes a source of immediate frustration for the executives as they confront different situations in the respective organizations.

5. There is no system to evaluate the effectiveness of the EDPs by such outside agencies. Post training evaluation system, in the form of scientific feedback mechanism, therefore, is considered essential for success of such programmes.

Conclusions :-

Experience indicates that men who have attended these courses tend to progress faster up the executive ladder than men who have not attended. The obvious reason is that companies send their best men for additional polishing.

It is unlikely that a month or two of such training will do much to improve a man's skills. However, it may change some of his attitudes, especially in the direction of helping him to think in department-wide rather than simply in section-wide terms, or at the next higher level, company-wide instead of department-wide terms. In other words, the idea is to broaden his mental horizons.

What do these "Executive Development Programs" mean to for an executive? Probably not much if executive is with a small company, but it could mean a lot if executives with a big corporation.

Bibliography :-

Human Resource Management : C.B. Gupta

Making the Leap: Rising to the Leadership Challenge of a "Structural Break" (February 2009)

Mines Magazine

strategicdevelopment.com