What is management development and how to get the best results?

What is management development?

Management development consists of the set of tools that allow people in management positions to continue with their work of growth and development, equipping them with skills and knowledge specific to and required for this type of position in a company. In this regard, all training aimed at the improvement and development of managers would fall within the concept of management development. However, these skills are usually divided into two general types:

Management knowledge

These are the easiest skills to quantify, as they are rooted in the knowledge of the business world, such as general knowledge of economics, organisational skills, accounting, etc. 

Leadership skills

Leadership skills refer to the set of skills that are categorised as interpersonal skills. These types of skills are more difficult to quantify. However, they constitute a fundamental set of skills in managerial development, as they equip the individual for the efficient management of elements such as interpersonal conflicts within the company, the management of the specific needs of personnel under their charge, as well as the development of empathetic and negotiation skills. 

The importance of management development

The importance of management development lies in the fact that it empowers those in positions of responsibility for the Process management and usual needs of your rank. This way, the resolution of actions, as well as decision-making, becomes much faster, but at the same time effective. Overall, it is about training professionals in management or leadership positions and equipping them with the necessary capabilities and tools for their daily professional work, which constitutes an investment in talent for the company. 

How to get the best results

There are different ways of implementing management development in a company. In all cases, it is necessary to implement it through a continuous and progressive monitoring of those involved and, moreover, it must also be done with a sufficiently broad perspective so that the competencies developed are useful both in specific cases and in unforeseen situations. 

Some of the most common tools used in executive development are the following:

• CoachingIt is the most widely used tool in management development, as the coach's role is more practical than theoretical, acting as a trainer who accompanies the manager throughout their development process. This allows the manager to reach their own conclusions rather than being told what to do and what not to do by someone else. 
• 360º FeedbackIt is another of the most useful tools in the case of the initial phases of management development. It is focused on making the manager have a complete perception of how they are seen or perceived by colleagues and subordinates, which helps them develop elements such as empathy, fundamental in resolving interpersonal conflicts in the company sector. 
• Leadership evaluation interviewsThis allows the manager to identify their own strengths and weaknesses, which is achieved through the interviewer's guidance. This enables management development to take place progressively and build upon prior learning, thereby ensuring its long-term impact. 
• SimulationsIt enables the manager to have quick and effective responses in extreme situations, as the simulations are designed for the manager to learn to navigate decisively in situations that they wouldn't have been able to foresee on their own.