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Executive Development

Executive Development – Options are Wide Open

Who is an Executive: A person or group having administrative or managerial authority in an organization. While “executive” and “manager” and “leader” are often used interchangeably, “executive” is commonly used to signify the top 5% to 10% of the organization.

Executive Development : aimed at developing the skills and competencies of those that (will) have executive positions in organisation.

exec development

Capabilities of a Good Manager:

A good manager can make an organization grow, survive and shine amidst tough competition, if he is bestowed with corporate competencies such as perseverance, capacity to put in hard work, sense of loyalty and responsibility, all of which may be inherited or acquired qualities.

Loyalty stems from internalized morality that may be a result of his value system. Executive success is what the organizations should aim for, and firms should try to figure out the fundamental components that make up the success formula or equation.

Road to Self-Development:

In less developed countries, employees are more than satisfied if they are provided with a job that offers safety and security. Their thinking is restricted to mere physical and biological comforts and does not go beyond that point, where self development and self-actualization come into the picture.

In developed countries, the situation is quite different, where the workers aim for empowerment and look for reasons that motivate them to do a job.

Money also has its due role to play, and people whose wages are very meager cannot be expected to aim for empowerment, where their single motive is mere survival.

Executive Development

Abraham Maslow’s Point of View:

Abraham Maslow puts forward the hierarchical needs theory, arguing that, there are five levels of needs for people in general, right from physiological needs at the bottom of the pyramid and need for self actualization at the top, and safety, security and esteem needs coming in between.

He points out that, once a need is satisfied, it ceases to be a motivator. This is so evident in our day to day lives, where wants and needs never cease to exist and once a want is satisfied, human mind wanders to catch hold of another.

So, organizations should understand and analyze, what factors best motivate their employees, particularly their managers (who might serve as a source of inspiration to their subordinates).It should be remembered that non-availability of jobs leads to dissatisfaction whereas availability of jobs need not motivate employees.

Some factors which have been proven to be real motivators are as following:

  • Recognition
  • Opportunities for self development
  • Additional responsibilities(lateral expansion)
  • Timely rewards(in terms of money and appreciation)
  • Security
  • Inculcating a sense of belongingness
  • Conducive corporate atmosphere
  • Corporate culture
  • Good human relations

Economic burden makes people less enthusiastic and anxious in developing countries and this hinders them from delivering to their fullest potential.

Also the bureaucratic approach followed by conservative firms, autocratic leadership style and lack of supportive atmosphere make people work like automatons devoid of creativity. Such firms may show good results in terms of productivity initially, but in due course has to pay the price, in terms of absenteeism, high attrition rates and less efficiency. It has been proven that job satisfaction is directly proportional to efficiency. When people find a job tedious and monotonous, they tend to lose interest, which will be evident from their lack lustrous performance.

Performance management has its bearing on executive success and by providing with ample scope for career advancement and autonomy; managers prove their mettle even within limited scope of resources. Acceleration of executive change implies the development of the executive mind for performing managerial activities in a better way.

Note :

A survey of CEOs in Fortune 500 enterprises indicated that executives spend little time with their employees. ‘Management by walking around’ is a practice of open communication not prevalent in many big corporates where the managers learn a great deal by walking through the corridors facilitating communication with the lower level employees.