Management Development is the process of training the managers in the company on the art of planning, coordinating, decision making and other skills that are vital in the execution of any managerial position. Management Development is critical given the importance of sound management in the overall success of an organization. A leader with sound managerial qualities is an indispensable asset to an organization. In view of the importance of good management, organizations spend vast quantities of time and resources in training and equipping employees.

Specific programs are designed and conducted to impart the skills of management. Since companies place such importance on managerial skills, the programs intended to groom management skills need to be professionally designed and conducted. The programs need to contain certain essential components which reflect the different steps of the management development process.

The various steps of the management development process are:- 
- Study of the present and developmental requirements of the organization 
- Study of the present managerial talent 
- Management Manpower Inventory 
- Method of planning the management development programs 
- Implementation of the development programs

Study of the present and developmental requirements of the organization: Once the decision to training people on managerial skills is made, it is necessary to first assess the present skills available with the management and to anticipate future requirement of management manpower. This has to be done in line with the organizational aims and objectives. This analysis also involves a study of the organizational structure in order to know the requirements of the organization in terms of departments, functions and related job profiles.

Study of the present managerial talent: A study of the present talent available with the organization should be done to decide on the level of training required to reach the projected managerial requirement.

Management Manpower Inventory: This step enables the management to estimate the present skills available vis-à-vis future requirements.

Method of planning the management development programs: The delivery of the management training programs should be based on the performance appraisal done in the year. This is necessary to understand the individual strengths and weaknesses. The planning of the course should be done with the employee’s immediate superior. The training should be customized to the maximum possible extent with the requirements and characteristics of each individual.

Implementation of the development programs: The function of implementation of the training program lies with the HR department as the HR department is in the unique vantage position of looking into the present skills with each employee and comparing them with the future requirements.