Management development

Management development is the process by which managers learn and improve their management skills.^[1]

Background

In organisational development, management effectiveness is recognized as a determinant of organisational success. Therefore, investment in management development can have a direct economic benefit to the organisation. In 2004, the money spent per year per manager on management and leadership development was £1,035, an average of 6.3 days per manager.^[2]

Approaches to management development

Purpose of management development

Managers are a critical part of the decision-making processes of organizations.^[4] Therefore, management development is a crucial factor in improving their performance. A management development program may help reduce employee turnover, improve employee satisfaction, better able a company to track manager performance,^[5] improve managers' people management skills, improve management productivity and morale, and prepare managers for technological change.^[6]

Action learning

Many management qualifications now have an action learning element. Action learning asserts that individuals learn best from hands-on experience.

Coaching

Coaching is a teaching, training or development process in which an individual is supported while achieving a specific personal or professional result or goal. Coaching is an effective learning tool that affects the bottom line and productivity, as well as intangible benefits. It aids in the improvement of individual performance, tackles underperformance, and aids in the identification of personal learning needs.

Management education

One of the biggest growth areas in UK education since the early 1980s has been the growth of university-level management education.^{[citation needed]} In addition to weekly part-time attendance at college/university, many students employ distance learning. The number of UK business schools grew from two in the early 1970s, to over one hundred providers.