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Definition of Management Development according to
http://en.wikipedia.org/wiki/Management_Development
Management Development is best described as the process from which managers learn and improve their skills not only to benefit themselves but also their employing organizations. [1]
In organisational development (OD), the effectiveness of management is recognised as one of the determinants of organisational success. Therefore, investment in management development can have a direct economic benefit to the organization.
Managers are exposed to learning opportunities whilst doing their jobs, if this informal learning is used as a formal process then it is regarded as management development.
In 2004 the spend per annum per manager on management and leadership development was £1,035, an average of 6.3 days per manager.
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