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Meaning of Executive Development --The executive development is a planned, systematic and continuous process of learning and growth designed

to induce behavioral change in individuals by cultivating their mental abilities and inherent qualities through the acquisition, understanding and use of new knowledge, insights and skills as they are needed for more effective performance of the work of managing. Managers develop not only by participating in formal courses of instruction drawn by the organisation but also through actual job experience in the organisation. It should be recognised that it is for the organist ion to establish the development opportunities for its managers and potential managers. But, an equal rather more important counterpart to the efforts of organisation are those of the individuals. It should be accepted as discipline of self education. Te individuals mus have the motivation and the capacity to learn and develop. As the individuals differ from one another in aptitudes, attitudes, talents, aspiration, needs and motivation, they should by provided an effective organisational climate to develop themselves and change their behaviour in manging the people and resources.

Why is Executive Development important?


When it comes to grooming your future leaders, you want people you can depend on and who are loyal to the company. More and more, corporate executives are realizing that one of the best ways to accomplish this is to develop and promote their own people their most valuable corporate assets. Evidence has shown beyond question that the bestperforming companies build from within. Not only does it promote longevity, it also brings dedication from the workforce and an internalizing of the companys values, vision and history. However, to get from here to there, you must provide an opportunity for candidates to grow. They deserve time, attention and assistance to be readied for their next opportunity. Executive Development is key to this process. Corporations, especially on the executive level, need to have plans in place for future leaders. The departure of an executive for any reason change of jobs, retirement, even scandals and death can make a tremendous financial impact on a company. It would be similar to a ship at sea not having a back-up plan for the loss of their captain, resulting in the ship drifting for months before a new leader is chosen. Corporations today dont have time to drift. An entire subcategory of business consulting has arisen in the past few years called disaster planning. These consultants understand the importance of predefined chains of command, decision makers and steps to ensure the going concern of organizations through leadership voids, natural disasters, etc.

Executive Development Program


In today's rapidly changing competitive environment, executives must be adept at moving quickly out of their comfort zone to build new capabilities as leaders. Wharton's Executive Development Program (EDP) prepares fast-track executives for moving from mastery of one area to a broader role. Participants not only expand business acumen in key areas, but also engage in competitive strategy simulations that dramatize the connection between management decisions and business results. At the same time, a leadership workshop reveals how each participant's style impacts group culture and process. During two very intense, transformative weeks, you will broaden your core business knowledge in areas such as strategy, marketing, finance, and negotiations as you benefit from the expertise of global participants from a wide variety of industries, functional areas, cultures, and geographical regions. The knowledge you gain in group discussions led by Wharton faculty, strategy simulations, the leadership workshop, and peer mentoring will have immediate relevance and impact when you are back on the job.

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