This refers to a specific type of instruction aimed at developing the talents and skills of those who have or will possess executive level roles within an organization is what we refer to as Executive Development. While many organizations assign their own teams and individuals to provide this particular type of corporate training, there are those who do not. However, a thorough and expansive executive development program is often a key factor in creating steadfast influential leaders.
The description of the executive development program itself may vary according to the nature of the company, although there are certain constants which generally fall into two categories:
Assessment: Learners offer input into the company’s strategic process by distinguishing which capabilities are required of executives, and then assessing and measuring the required capabilities against the existing ones. Any gap existing between the completed assessment and the necessary requirements is then identified and evaluated, with a focus on how the disparity can be bridged through either development or hiring.
Development: Learners organize or “segment” an executive group according to level and role; devise progress oriented workshops and experiences for each segment; work with partners to manage and provide growth experiences and implement programs for executive development; and lastly, arrange ROI (return on investment) activity while providing necessary revisions and a summary of results.
While some companies organize internal development programs customized to their own particular needs, others opt for external development programs. External programs provide the benefit of instructors with customized training expertise, including that which was obtained through providing executive development programs for a wide range of industries.