In this day and age the importance of executive development programs cannot be underestimated. As the global business is getting increasingly complex, there is a great need for arranging executive development programs in business organizations.

Without more ado, it is important to note what has been pointed out by Peter Drucker, “An Institution that cannot produce its own managers will die.” The saying of Peter Drucker is replete with fact and it would lead us to understand the importance of making executive development programs in business organizations.

Since the performance of an organization directly depends upon the quality of managers that calls for the required skills, knowledge and attitudes to meet the organization’s demand, it is of great importance of develop employees who can fulfill this objective and perform their tasks effectively and efficiently.

The need and importance for executive development arises when there is a shortage of trained managers or it is difficult to select and recruit the right candidates from outside. In such situations, what management needs to do is to develop qualified and talented employees by making appropriate inventory of the skills, so that the future demand may be fulfilled effectively.

Besides, the social changes and the changes and developments in technology demand such people who can manage their tasks in a way as needed. This necessitates making executive development programs, so that the employees may be trained and equipped for performing in a desired way.

Also, the need for executive development is felt when the factor of obsolescence is to be considered. At this stage, it is worthwhile to note it’s important for a manager to keep himself updated with new demands and challenges, so that he can cope with them whenever they occur.

Executive development becomes necessary when there is increase in management tasks and leadership responsibilities. This would help a business to meet the demands arising from social or technological changes and manage them in a better way being ready to meet the challenges in advance.

It’s worth mentioning that management development programs are necessary for any business to grow and develop and to attain sustainable success. And arranging executive development programs for the knowledgeable and talented employees is a great way to keep the business running progressively, effectively and efficiently.

Thus, executive development is not to be done at one time, but it’s an ongoing process to provide a business better position.

FAREED SIDDIQUI

I am an Individual Member of Institute of Management Consultants of India. I am a Professional with a high creative capability based on Business, Management, Financial Accounting, Management Accounting, Finance and Management Consulting Field. I impart part time training and development programs. I write professional articles on business & management, business English and Software Engineering.

Related Articles

0

282

Credit Cards: Do We Need Them?

Nowadays, credit cards seem like tools that help us what we would like to have – expensive clothes, smart phones, and so forth. Credit cards may be both helpful and threatening, depending on how we use them.

.

0

5.81K

Choose The Best Health Insurance For Your Needs

Health insurance is an essential plan to be adopted these days. But a large population is not aware of the benefits of health insurance.

0

654

Business English - The Importance Of Business English C

The importance of business English communication emerges from the fact that tells us about the English language dominance in the world. It’s believed that “English is dominant in a way that no language has ever been before.” The global imperialism has had a great impact on almost all the spheres of human endeavors including science and technology, education, engineering and of course, the ways the businesses are done.