Management development is a responsibility of HR strategist, which shapes the growth of the organization. Management development is a systematic process used for the training and growth of managers & supervisors so as to improve their management of organizations. In other words, management development may be stated as a formal training program to develop managerial skills. It became popular, as per Heyel, in the post world war II era.
Talent sourcing and recruitment face tremendous pressure. Talent and skill shortages are widespread. Employees are demanding new careers and career models. And technologies and innovations, including cognitive, artificial intelligence, social collaboration, crowds, and the sharing economy, are reshaping the workforce. Leading companies are turning the open talent economy into an opportunity by embracing technologies and developing new models that make innovative use of on- and off-balance-sheet talent sources.
The public Education system provides the individual the popportunity to equip himself with the basic skills and knowledge necessary to cope with his environment.Through trade schoolsand higher education the individual can pursue general studies for particular fields.But in business organizations,individuals need to be prepared for a particular position which is not work of these institutions but a function of training departments.
Every enterprises whether small, medium or large operating in any part of India , needs to ensure that the business not only grows but continues to be competitive and remains viable during its life and does not become sick . There are times in the life of an enterprise when percentage of increase in inputs costs is higher than percentage increase in selling price, hence there are bound to be cost pressure to improve productivity.