Executive ProgrammesDo you feel stuck in your present position with no sight of growth or development? Do you feel your career is not progressing at your desired pace? The answer to such questions is that most people feel that way. The solution to the problem lies in taking courses that can enhance your skills and equip you with new capabilities necessary for today's business environment.
Working professionals looking to move to executive positions must undergo executive development programmes from reputed institutions. It is the only way to prepare for such high positions and responsibilities.
The Executive Development Programme In General Management is an excellent course to acquire all the skills and capabilities needed to achieve your organisation's goals. More details about this course are available on our website.
What Is Executive Development?
Before we look at the various courses offered for this purpose, let us understand what the term means. Executive development is the process of improving the performance of managers at different levels by equipping them with the latest skills. It doesn't mean they are only ready to do their jobs well. They will also be made ready to take up future responsibilities. Apart from enhancing their skills, this process aims to improve their knowledge and change their attitudes. Executive development programmes help managers to take up new roles comfortably.
Executive development is different from training. Training programmes equip staff members with skills necessary for their present job and their position. But development refers to more intangible aspects of performance, such as attitude and values. It means preparing them for planned career growth, and the focus is always on the long-term future. Executive development programmes are a systematic attempt at preparing managers to take up more challenging roles in the future. It helps them acquire conceptual and theoretical knowledge of the job that they must perform in the future.
- Concepts In Executive Development
It is a planned effort to enhance the capabilities of managers to handle higher responsibilities in a fast-changing business environment.
It is a continuous process t aimed at changing a person's attitude, personality and behaviour, and one cannot achieve this in a day.
Executive development is a long-term process, as nobody can achieve the desired capabilities quickly.
The process aims at the current and future development of the individual and the organisation.
It is not a one-time activity and continues throughout the career of managers with regular executive development programmes.
Executive development needs a conducive environment that encourages the individual.
There must be regular feedback about the progress of the individual.
Executive development happens only if the individual desires to grow and move to higher positions. It cannot be forced on anyone.
Understanding The Reasons For Undertaking Executive Development
- Changing Business Environment - These factors demand that organisations prepare themselves for continuous adaptation. For this purpose, there is a need for the upgradation of skills and capabilities at the managerial levels.
- Improve Leadership Skills - Companies need leaders more than managers. Leaders inspire their team members and make them also more capable. Executive development can achieve this.
- Gain Employee Respect - If managers want to get their teams to perform well, they must earn their respect and inspire them. Acquiring knowledge of the latest business trends and possessing modern skills are the way to earn their respect.
- Better Decision-Making - Companies need to make the right decision every time in today's competitive market conditions. Executive development programmes teach participants to gather and use data effectively to make better decisions.
- Improve People Management Skills - All programmes aimed at executive development greatly emphasise human resource management. They help to create leaders who can manage their teams effectively.
- Adapt To Technology Changes - We cannot deny the speed at which technology develops and the need for companies to use the latest tools. Development programmes help managers become familiar with new technology and tools.
- Understanding Changing Behaviours - With a huge change in the socio-cultural environment, people's behaviour in the workplace is also changing. Managers can understand and adapt to such changes with development courses.
- Increased Competition - Executive development programmes help managers combat the impact of increased competition. They learn new methods of staying above the competition and ensuring high performance.
Objectives Of Executive Development
Knowledge To New Managers - The objective of executive development is to provide adequate knowledge to new managers about their jobs and future responsibilities. Such knowledge improves their conceptual and decision-making skills.
Improving Performance - Executive development helps to improve managers' performance at all levels. It equips them with the skills to handle new tools to improve efficiency. Such programmes also teach them about the latest management techniques used worldwide.
Prepare For Future Responsibilities - Companies benefit from promoting their employees instead of hiring new ones for higher positions. Executive development programmes help the organisation prepare their managers to take up higher responsibilities when needed. It also helps the firm quickly put someone in important posts in the event of the sudden resignation of executives.
Prevent Obsolescence - These programmes prevent executives from becoming outdated and incapable of handling new responsibilities in changing conditions. The training equips them with new skills and keeps them aware of the latest developments in business.
Implement New Systems - Companies must continuously improve their systems to increase efficiency and reduce expenses. Developing their managers helps firms to implement new management techniques and increase the productivity of every individual and the organisation.
Fulfil Career Objectives - All employees have career objectives and will work in a firm only if it allows them to achieve these goals. Development programmes enable staff members to achieve their goals by learning new skills.
Optimum Use Of Resources - Companies must use their resources optimally to reduce expenses and increase profits. Courses aimed at executive development teach them the optimal use of all resources, including people.
Makes Change Possible - Every company must transform as markets change. But it takes work to bring about change in a firm. Executive development programmes broaden managers' perspectives and help them become change agents.
The Executive Development Programme In General Management is one such course that aims at the complete development of managers. You can visit our website to learn more about this course and how it can help develop managers.
Executive Development Process
1. Analysing Development Needs
Organisations must examine the organisational structure and evaluate the needs of departments, functions and executive positions to implement plans. The process must start with evaluating available talents and what will be needed in the future to achieve company goals. Once this is done, it is easy to prepare the specifications of executive positions. The firm can then decide on the type of training required for each position. By comparing the availability of existing skills with future requirements, the organisation can decide on the best executive development programmes for their managers.
2. Appraise The Potential For Development
Not all managers in a company work with the same efficiency. Many don't possess the drive to develop and move to higher positions. The company must appraise all managers at different levels to identify those with a potential for development. Only such people can be considered for executive development programmes as they will easily acquire the necessary skills and change their attitudes for future positions. Such an appraisal will also give a clear idea about the available skills and those that must be acquired by these managers.
3. Planning Individual Development Programmes
Not everyone is capable of doing the same work. People have a flair for doing certain types of jobs. The above appraisal will give a clear idea about the kind of training each need. Companies cannot give the same training to all managers. After assessing their strengths and weaknesses, the organisations must decide on the specific executive development programmes that will be suitable for each of their staff members. There are a variety of programmes from reputed institutions to equip employees with specific skills needed for their present and future positions.
4. Evaluating Development Programmes
Most of these programmes have high fee structures and will require some time and effort from the employees. Companies must evaluate these programmes and decide the ones that are most suitable for their managers. Whether the course is paid for by the employee or the company, it is essential to make sure that it will help people improve their capabilities and make themselves ready for future positions. Companies must also check whether attending such executive development programmes will affect the person's work in the firm. They must ensure that work doesn't suffer due to managers attending such programmes.
Benefits Of Executive Development Programmes
1. Practical Application
One of the main advantages of executive development programmes is that they are more practical than theoretical. The faculty includes experts from various industries who carry with them many years of experience. They put forward real-life problems that executives are likely to face and give solutions for such issues. Moreover, these courses include a lot of case studies which help participants understand how to put theories into practice. Participants in these courses meet others in managerial positions and understand their perspectives on various real-life situations and how they handle them.
2. Improve Team Performance
Companies benefit greatly from these executive development programmes because they don't just benefit the participants but also the teams they manage. These leaders bring back valuable lessons from the course and impart such knowledge to their team members. It means that the organisation gets several people who are capable of handling higher responsibilities. Moreover, such leaders who have attended these programmes can motivate the team in a better manner and ensure improvement in overall company performance. Such leaders can inspire their subordinates and help them improve their performances.
3. Expand Your Network
Individuals who attend these executive development programmes get to meet leaders in various fields. Developing contacts with these people helps employees develop their supplier and distributor networks. You also meet your peers who are from different parts of the world. It helps you expand your network to places that were inaccessible before. You can use such networks to expand the company's business to new markets. Participants also benefit greatly by gaining knowledge about job opportunities in different parts of the world. This network can help people move to better jobs or make career changes.
4. Close Skill Gaps
The world is changing rapidly when it comes to technology. This is especially true in the business environment. Even competitive and hardworking executives find that they lack many of the skills needed for today's business world. They must stay updated if they want to continue to grow in their professions. Executive development programmes help the participants become proficient in the latest trends and skills. They can transfer these skills to their present job and also become capable of handling future responsibilities. These courses also allow leaders to evaluate their strengths and weaknesses.
5. Excellent Return On Investment
It is common knowledge that hiring new people is more expensive than retaining older employees. Companies also benefit from the experience these people have and their knowledge of company procedures. Enrolling their managers with executive development programmes offers an excellent return on the investment they make because these courses equip participants with the latest skills. Companies don't have to spend money or time looking outside for suitable people. The organisation will also benefit from improving the loyalty of such employees. Staff members also work happily with the knowledge that the company is interested in their development.
6. Improve Career Opportunities
Employees attending such programmes improve their career opportunities. When they are equipped with the latest skills and knowledge, they can claim higher positions in the company. They will be considered for promotion to higher posts as organisations realise their capabilities. When you attend executive development programmes, you make yourself capable of handling higher responsibilities. It allows you to look for better opportunities outside your company. The network you develop in such courses also helps you find new opportunities in places outside of your circle. Those desirous of starting their own business can also do so after these courses.
7. Ensures Better Decision-Making
Making good decisions is critical for every company. Many of the decisions made by senior managers can have a long-term impact on the business. It means that the steps they take must be carefully thought out and ensure the achievement of company goals. In today's competitive market conditions, it doesn't do any good to make decisions based on guesswork or gut feeling. Executive development programmes teach participants to gain valuable insights by analysing data. These insights provide the foundation for making smart decisions that will benefit the company. Participants in the course also learn to make accurate forecasts using data analysis.
8. Provides a Steady Supply Of Leaders
Companies need a steady supply of good leaders as they grow and develop. The top management cannot make all the decisions as the company becomes large and spread across various locations. They cannot supervise the activities of all the employees at all times. It is for this reason that they need to develop leaders who can lead the employees and get them to work towards the organisation's goals. Enrolling their employees in executive development programmes ensures that there are always good leaders to take the company forward. Such organisations don't have to worry about having replacements for leaders leaving the firm.
Skills Taught In Executive Development Programmes
1. Business Awareness
Managers at a senior level must know how businesses work and the different aspects that affect an organisation. It is observed that most managers only know how to manage their teams and get work done. They have very little knowledge about the working of the company or how it functions. There are various areas in business that these managers must learn about if they want to occupy higher positions. Executive development programmes teach their participants business management and how to work towards the achievement of company objectives. This fills the skill gaps and makes them ready for leadership roles.
2. Communication
Communication is a very important skill that every individual must possess. It is especially true for people occupying managerial and executive positions in the company. They need to convey messages to employees at different levels. Managers act as the intermediaries between employees and top management. It becomes necessary for these people to pass information both ways. They must also communicate with various entities outside the company. The executive development programmes train them in all forms of communication. These courses also teach the students about creating reports and conveying the contents for everyone to understand.
3. Problem-Solving Skills
There is no shortage of problems in any growing organisation. These companies face problems daily, and they must be solved to move forward. Managers must be proficient in solving problems and ensuring that work progresses as required. It is not enough to solve their problems. They must also resolve issues that their team members face. Executive development programmes teach participants to understand problems and come up with innovative solutions. Various cases are discussed as part of the course. It helps you know the common problems faced in your field and the best solutions for them.
4. Data Analysis
Analysing data is an important skill that everyone must possess in modern business. There is a huge amount of information about these companies, and these provide a lot of useful insights into the business. Having proficiency in studying the insights and understanding the reasons behind various events help you make better decisions for the future. Those attending executive development programmes learn how to use the available data to find patterns that help predict future events. It helps the company forecast risks and make provisions to overcome them. Better forecasting of demand also helps make better production plans.
5. Leadership Skills
Leadership is different from management. Solving daily issues and getting their teams to do their work is what managers do. But leaders can anticipate issues and prevent them. They are also able to inspire their team members to find solutions to problems. Executive development programmes teach their participants to become good leaders and take their companies forward to success. Having good leadership skills helps these managers to develop their team members and make them capable of taking up higher responsibilities. Good leaders are always concerned about the overall growth of the company above their development.
Executive Development Courses From IIM
Executive Development Programmes offered by IIMs have been very useful for managers at different levels to earn highly valuable skills. As these courses are available online, it is easy for working professionals to take full advantage of their benefits. The biggest benefit of participating in these courses is that you earn a certificate from IIMs that most employers in India and abroad consider highly valuable. It will improve your job prospects greatly as top companies look for IIM-qualified candidates. Passing out successfully from these courses will also ensure you a higher compensation.
These executive development programmes allow you to interact with some of the brightest minds in the world. The faculty comprises highly educated and experienced people who can impart the best management concepts to the attendees. Real-life business issues are discussed in such courses, and this helps the participants apply them directly to their work. Those participants who wish to start their businesses can also get guidance from these learned people and ensure success in their ventures. Great networking opportunities in these programmes will improve your job prospects greatly.
The Executive Development Programme In General Management is one such course that will help in developing excellent leadership qualities in its participants. You can get familiar with all aspects of business in this course. More details about this course are available on our website.
Summing Up
It is everyone's dream to achieve high positions in their organisations. Companies also like to move existing employees to higher positions instead of hiring new people. But occupying such executive positions need you to possess a lot of skills that will help you steer the company to success. You can acquire these skills by attending courses that are specifically meant to improve the capabilities of managers. These programmes are available online, making it easy for working professionals to take advantage of them and gain valuable skills.
