Describe the notion of management development programs as a tool for
increasing the overall skill levels of managers. What is the goal of this type
of program?
Management development programs are designed to increase the overall
skill levels of managers through a mix of ongoing management education
and rotations of managers through a number of jobs within the firm to give
them a broad range of experience. The goal of this type of program is to
improve overall productivity and quality of the firm’s management
resources. As a strategic tool, management development programs can play
an important role in international businesses. These programs can help a
firm build a corporate culture that is sensitive to international business
issues. Moreover, by rotating managers, firms can build informal
management networks, networks that can then be used as a conduit for
exchanging information within an organization.