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Executive Development Program

TERM PAPER

MGT-512
LOVELY PROFESSIONAL UNIVERSITY

Regn. No. 10900128

Block Name LSM

Roll No. RS1902-A13

Program Code 193

Program Name MBA (Gen.)

Semester 1st

-___________________________________________________________________

Submitted by Avtar Singh

Submitted to Ms chanjyot kaur

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Introduction 3

Who should attend 4

Objective 4

Program includes

Executive decision making 5

Leadership 6

Intpersonal dynamic & org. effectiveness 7

Financial analysis & forecasting 8

Strategy marketing mgmt. 9

Executive negotiation 10

Mgmt. expectation 11

Professional development 14

Benefits 16
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Introduction

Executive development is the whole of activities aimed at developing the skills and
competencies of those that (will) have executive positions in organizations. While "executive"
and "manager" and "leader" are often used interchangeably, "executive" is commonly used to
signify the top 5% to 10% of the organization. Similarly, "development" and "training" and
"education" are often used as synonyms, however "development" is generally seen as the more
encompassing of the three in terms of activities that build skills and competencies.

While it is typical to find organizations that have dedicated corporate training & development
people and processes, it is not always the case that an organization will have a dedicated
executive development set of activities. In some organizations (typically large multi-nationals),
there is a separate executive development team, in other organizations executive development is
handled as one of many activities by the larger corporate training group, and in yet other
scenarios there is no executive development activity to speak of.

In contrast to other corporate training & development activities, which have as their core purpose
to build tactical skills for employees, executive development plays a different role for the
organization. Indeed some executive development is conducted for the purpose of building
tactical skills (sometimes referred to as "hard skills" such as business fundamentals- finance,
marketing, operations and also "soft skills" such as communication and team building), yet
executive development is also used to evaluate future potential future executives as well as a
mechanism for the CEO and the executive team to cascade their strategies, goals, and even
elements of the culture to the rest of the management team and ultimately the organization. In the
best of cases, executive development not only helps an organization execute its key strategies, it
can also help provide input to the strategy creation process. In this way, executive development
is much more strategic than typical corporate training & development which is used for most
employees of an organization.
While executive development continues to become enriched by many approaches, one approach, adult
development and its subfield Positive Adult Development is beginning to create opportunities for what
has been essentially reserved for academic research to become an increasing part of executive practices.
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Who Should Attend

Participants in EDP have been identified by their organizations as executives who will assume
greater responsibilities within their companies. They usually have expertise in one or more
functional areas or may already be leading organizations that are in the process of expanding.
Participants usually hold such titles as division manager, country manager, business unit
manager, group product manager, sales or marketing manager, R&D or engineering manager,
director of strategic planning, director of manufacturing, or director of human resources or
personnel. Participants also include entrepreneurs, presidents, and owners of small companies
with growth potential. Participants are typically sponsored by their employing organization and
have a minimum of eight years’ business experience with some managerial and leadership
background required. The candidate’s level and type of experience will be important
characteristics for the EDP admissions committee. Proficiency in written and spoken English is
required for successful participation in the course. The admissions committee considers the
overall character of the class, as well as the individual candidate’s qualifications because peer-
group interaction and learning are essential to this premier educational experience.

Objectives

 Broaden participants’ perspective and strategic thinking to enhance their general management
and leadership abilities.

 Guide participants in strengthening their critical thinking, creative analysis, and problem
solving skills.

 Refine participants’ functional skill base in the critical areas of finance, strategy, marketing,
decision making, and leadership.

 Provide an international networking platform among experienced professionals and faculty.

During This Program, You Will Learn:

 The difference between managing and leading.

 How different leadership styles can be appropriate for different situations.

 Gain awareness of the impact that your behavior has on others.

 To motivate and lead your team more effectively.

 Frameworks that foster more effective decision making.

 Skills to influence and manage group decision making.

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 Strategies for learning more effectively from experience.

 Insights into the processes of negotiations and new ways for structuring these.

 To understand the various approaches to marketing segmentation, targeting, and positioning

for competitive advantage.

 How to build and manage strong brands.

 How your strategy builds (or doesn’t build) your company’s market value.

 To identify and exploit opportunities to create value.

 A framework for analyzing competitive strategies and how industry structure impacts
strategic leverage.

 How organizations achieve competitive advantage.

 The fundamental terminologies and methodologies of financial and managerial accounting.

 To use financial information in managerial decision making.

 To evaluate and forecast financial performance and capital requirements.

Executive Decision Making

The executive decision making part of the course will help general and functional managers
develop consistently effective strategies and systematic approaches to decision making and
negotiations, dramatically improving their personal effectiveness and the productivity of their
organizations. It will highlight common conceptual traps, identify one’s strengths and
weaknesses, and discuss strategies for improving the quality of decision making.

Decision-making skills

Decision-making skills and techniques underpin most aspects of

management. Deciding something means making a choice or
coming to a conclusion. This involves a wide range of personal
and interpersonal skills, including fact finding, logical thinking,
creativity, analytical ability, sensitivity to others and
assertiveness.
Decision making also relies on a thorough knowledge of a
variety of techniques and processes.

What are the key steps in making a decision?

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Whether decisions are straightforward or complex a methodical and systematic approach will
lead to success.

• Setting objectives
• Collecting information
• Identifying alternative solutions
• Evaluating options
• Selecting the best option

What techniques can I use when making decisions?

courses will give you experience using a range of decision making techniques to meet each of
these stages.
These might include:

• Brainstorming
• Ideas writing
• Disney method
• Setting well formed outcomes
• Mind Mapping
• Lateral thinking
• Six thinking hats
• Decision trees
• Ishikawa fishbone diagrams
• Force field analysis
• Future pacing

Participants will be equipped to recognize and overcome flaws in their negotiation and decision
making processes, develop frameworks for making sound decisions, analyze situations, improve
and practice their negotiation skills, and more effectively learn the right lessons from their
experience.
 the Psychology of Judgment and Decision Making Process
• Framing decisions—structuring problems to reach appropriate solutions
• Assessing uncertainty—recognizing and avoiding common pitfalls in decision making
• Seeking information—asking the most informative questions

Leadership

This section examines how organizations can enhance performance through their people.
Specifically, it analyzes how to maximize individual value in light of the general trend toward
a shift from vertical chains of command to horizontal lines of cooperation. Due to this shift,
many leaders now have less types of power to draw from , therefore, it is important to be
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effective in the use of what is available. Leaders who understand and know how to use power are
more effective than those who do not or will not. To successfully influence the behavior of
others, leaders should understand the impact of power on the various leadership styles. These
leadership styles are possible to gain only through EDP. This can be possible as;

 Understand the Difference between Managing and Leading

• When is it appropriate to manage?
• When is it appropriate to lead?
 Leadership Style
• Identifying new sources of value for an organization and organizing people to deliver that value
• Tools and frameworks for maximizing the value added of each person you manage
 Taking Charge
• Position power versus personal power
• When is one more important than the other
 Solving Performance Problems
• Understanding performance slippage
• Constructive discipline versus developing people
• Effective communication

Interpersonal Dynamics and

Organizational Effectiveness

Success as a manager requires an understanding of the factors that shape individual and group
behaviors. Managers must be self aware as well as understand others’ attitudes, thoughts, and
beliefs. This section provides the tools and concepts to understand why people do what they do.
How do individuals’ defaults systematically bias actions in the workplace? How can an
improved understanding of these systematic biases change individual behaviors as well as impact
the behavior of others? How can a manager use this knowledge to drive organizational
effectiveness? This can be obtained;

 Becoming More Reflective and Learning From Experience

• Understand the roles of experimentation, practice, feedback, and reflection for learning
• Develop action plans through analysis and diagnosis of a problem
 Managing the Factors that Shape Group Behavior
• Processes for team problem solving and decision making
• Strategies for avoiding groupthink
 The Relationship between Individual Behavior and Organizational Performance
• Diagnose the situational causes of behavior
• Build awareness and overcome assumptions, biases, and limiting defaults and habits
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Financial Analysis and Forecasting

The focus of this section of the program is on understanding how financial decisions affect the
firm’s value. It begins by examining the financial approach to managerial decision making.
Executives will leave with the background and tools for financial analysis. Topics include:
developing the ability to interpret financial statements, conducting a preliminary financial
analysis of a firm, and forecasting a firm’s financial performance. This section also focuses on
the interactions between financial structures and the value of the underlying real assets. Capital
budgeting and valuation methods will be covered. Mergers, acquisitions, and corporate
restructuring are illustrated through a series of examples and cases.

 Analyzing Historical Financial Performance

• Balance sheet, income statement, and statement of changes in financial position
• Financial analysis tools—ratio analysis, common sized statements, and cash flow analysis
 Forecasting Financial Performance
• Projecting financial statements (pro-formas)
• Present values, capital budgeting, and project evaluation
• Income taxes and business decisions
 Financial Decisions
• Financing sources
• Overall capital structure designs
• Risk management

Strategy and Implementation

In today’s turbulent business world, most companies find themselves in complex competitive
environments where the formulation and execution of strategy are more critical than ever before.
In this part of the course, two key questions will be addressed: “What should I do as a general
manager?” and “How can I make it happen?” The focus will be on the strategic role of the
general manager in formulating and implementing plans in a realistic setting. Topics will include
Strategic architecture, industry analysis, competitive interactions, competitive pricing, customer
segmentation, and channel strategies. Participants will have an opportunity to apply innovative
marketing and strategy frameworks to their own competitive challenges

 Understanding How Industry Structure and Competitive Position Restrict and Limit Choice
• Limitations of the usual strategy choices
• Understanding the rules of competition in industry and learning where strategic leverage is in
any business
 Exploiting Strategic Leverage
• Why channels can become industry “fault lines”
• How to change the rules of the game
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• How to predict competitors’ likely reaction to strategic moves

• Defining growth strategies
 Differential Advantage
• Quantifying your value proposition
• Determining competitors’ likely strategies and intent
• Determining where and how much investment is needed to gain share
 Framing Your Industry
• How to define the game being played to avoid being blindsided
• Strategic mapping and understanding real choices
• Communicating strategic direction

Strategic Marketing Management

Strategic marketing involves determining which customers your organization should serve,
which products and services it should offer them, and how. This session is intended to develop
an analytical framework for these decisions that permits managers to maximize their
organization’s return on marketing expenditures. Emphasis will be placed on developing a
position in the market place that provides value to customers that is not readily duplicated by
competitors. Thissession provides participants with an opportunity to learn how to conduct a
strategic customer analysis to determine how to (a) identify strategic customer segments, (b)
assess marketopportunities, (c) practice target marketing, (d) assess what customer’s value, and
(e) develop strategies to create sustainable competitive advantage.

 Introduction to Strategic Marketing: Segmentation, Targeting, and Positioning

• Customer analysis—identifying high value customers
• Competitive analysis—identifying and deploying competitive advantages
• Customer acquisition and retention
• Aligning tactical expenditures with strategy to achieve higher profits
 Building and Managing Strong Brands
• Customer based brand equity
• Brand value chain
• Integrating brand marketing
• Characteristics of strong brands
• Brand revitalization

As a beginning special librarian, learning to communicate with upper level management may
seem like a daunting task. It is a task worth undertaking and mastering as communicating
successfully will reap its rewards for the librarian as well as the information center. The
beginning special librarian should start at the beginning by orienting himself to the organization,
asking questions of upper level management, and defining management expectations. Moving
forward, the special librarian may demonstrate his performance abilities, increase awareness of
available services, promote the library to management, and keep management informed through
formal reports. Finally, the special librarian can progress from the library proper to the
boardroom and the professional arena in support of the organization.
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Executive Negotiation skills

 Negotiations
• Preparing for complex negotiations
• Managing joint decision making among a large group
• Common influence tactics and defenses
• Creative problem solving as a negotiation technique
• Techniques for creating value
• Quantitative tools for improving joint outcomes
• Multiple-issue contract negotiation

Orientation to Organization

An orientation to the organization whether formal or informal is an excellent way for the
special librarian to answer the question, “How do things really get done around here?” This
induction training can help the new employee in achieving the following objectives:

• Understand the mission of the parent organization

• Get to know the other staff inside and outside of the library
• Hear views of those outside of the library
• Get to know existing and potential users of information services (St. Clair 1992)
• Understand the lines of authority and the place of the librarian in the management
hierarchy
• Understand how the library compares to other departments in staffing, funding, etc.
• Explore the history, growth, and economic challenges of the organization
• Explore the facilities, the layout of the building, and the location of other departments

Ask Your Manager

After the initial few weeks on the job, questions may have arisen in the mind of the special
librarian which upper level management is poised to answer. These questions can open the door
to communication. By addressing any issues up front, miscommunication in the future can be
avoided. Some of the questions that may need to be addressed include:

• How much time should be spent on technical services? Are any services outsourced?
• Are there situations where the librarian can take action independently? What actions
need prior approval of management?
• Are there suggestions that will help the librarian get off on the right track with library
staff?
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• Who besides the librarian’s immediate supervisor is involved in procedures and

workflow?
• How often is an update of the library’s progress required and in what format?
• What are the personal priorities of the manager? What are his areas of responsibility and
what kinds of decisions must he make?
• What are the management’s expectations of the librarian for the next six months? Next
year?

Management Expectations

Through an orientation and conversations with upper level management, the new special
librarian should have a clear understanding of management’s expectations for support of the
library and the library’s role in the organization. A thorough knowledge of the industry or
subject specialty as well as the organization itself is essential. The librarian must demonstrate
adequate professional qualifications, knowledge of databases, and administrative competence. It
is important for the librarian to keep management informed while developing a close rapport
with users. A review of expenditures and their cost effectiveness need to be addressed on a
regular basis.

The special librarian

may communicate value to
the management by meeting
the following objectives:

• Saving the
organization money
• Saving employees
time
• Providing value-added
service by organizing
and synthesizing
information
• Helping employees to
meet deadlines
• Providing accurate,
helpful, and
appropriate
information
• Anticipating the needs
of users
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• Supplying the information needed rather than what is asked for

• Providing consistent service
• Fitting into the culture of the organization (Matthews 2002)

In addition, the special librarian must communicate to upper level management the desire to
continuously update his own competency level in a variety of areas. These acquired
competencies include:

• Extensive and proven expertise in a variety of subject appropriate databases

• Proficiency in Internet search and metasearch engines and the ability to select engines
based on informational need
• An understanding of materials available through interlibrary loan networks and other fee-
based services
• Familiarity with public sector information agencies and how to use them effectively
• Familiarity with trade and industry publications
• A personality conducive to effective teamwork and collegiality among all levels of staff .

Performance Abilities

The special librarian may further demonstrate his value to the organization by possessing
certain performance abilities. Professional recognition as a librarian is directly proportional to
how relevant the information services provided are to the top management. To demonstrate
professionalism, the librarian must take charge of his personal life and not let it interfere with
work. The librarian must have a positive impact and a positive attitude. It is important to be a
problem solver and not a problem creator. A professional embraces and adapts to change with
determination and optimism. The librarian must communicate openly and directly, creating a
feeling of trust as well as being a good listener. Being a positive role model, teaching and
sharing ideas, and looking for leadership opportunities will communicate dedication to the
organization .

Service Awareness

It is important to communicate to upper level management the services which can be

provided by the special library, the value of those services, and the skills of the information
center staff. Having a prepared, rehearsed message on how the library provides value may be
useful in a variety of informal settings: the cafeteria, on an elevator, in the hallway. The savings
and benefits of information services include better decisions, time savings, money savings, and
productivity increases. The special librarian may communicate these savings and benefits to
upper level management in the following ways:

• Talk to upper level managers one on one

• Send memos to those who will benefit from particular information services
• Publish a newsletter, post to the Intranet, or develop a web page
• Hold or arrange for seminars for users
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• Exploit your advocates/users

• Establish a library committee
• Develop outside contacts to share insights.
•
• Increasing Advocacy

There are a number of ways to increase management’s interest in the library. It is important
to establish personal contacts and build relationships with others in the organization. Get to
know and show interest in others and what they are doing. Bring up the library in conversation
so that management knows what the library does, how it has helped others, and how it can help
them. Fight for the library but know how to pick your battles. Find solutions for yourself before
going to management. Be courteous and respectful not only to management but to all levels in
the organization—even the custodian. Make your manager look successful by understanding his
concerns and priorities. Establish your credibility by consistently following through. Learn to
communicate in the style of the organization. Learn the unwritten rules of work hours, work
ethic, and dress code.

Formal Reports

Unless otherwise required by upper level management, the special librarian can keep
management informed by issuing a quarterly report on the progress and future objectives of the
library. More important than statistics is an outline of instances where library services have had
a direct impact on the mission of the organization and where time and money have been saved.
In additions, suggestions can be made on how to improve the library by adding services and
taking on additional responsibility . “Management does respond positively to demonstrated
need, cost effectiveness, and contributions toward the organizational goals”.

Presentation Strategies
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There may be occasions for the special librarian to take his message directly into the
boardroom. This is an excellent opportunity to communicate the value of the special library. It
is important to remember, however, that the presentation is about the organization as a whole and
not the library. Relevant background data is essential. Demonstrate how what the library is
doing fits with the mission of the organization and show concrete results. Communicate in the
language of the organization thereby enhancing your image. Know the audience; manage and
use politics to the library’s benefit.

Professional Development

Once established within the organization, learning opportunities should not cease.
Hopefully, this was part of the original negotiation for the job. If not, the special librarian must
communicate to upper level management the importance of professional development, including
attending conferences. Advantages which may be communicated include keeping up with
changes and trends in the industry, seeing new products and meeting vendors face to face,
hearing from leaders in the profession, and receiving free merchandise or trials of software . In
requesting time away from the library, the savvy librarian will address the issues of how the
library will function during this time, how travel costs will be controlled, and improvements
were made as a result of past conferences. A detailed report to management upon return,
emphasizing benefits to the organization, will increase the chances for participation in future
events.
In the field of human resource management, training and development is the field
concerned with organizational activity aimed at bettering the performance of individuals and
groups in organizational settings. It has been known by several names, including employee
development, human resource development, and learning and development.
Harrison observes that the name was endlessly debated by the Chartered Institute of
Personnel and Development during its review of professional standards in 1999/2000.
"Employee Development" was seen as too evocative of the master-slave relationship
between employer and employee for those who refer to their employees as "partners" or
"associates" to be comfortable with. "Human Resource Development" was rejected by
academics, who objected to the idea that people were "resources" — an idea that they felt to
be demeaning to the individual. Eventually, the CIPD settled upon "Learning and
Development", although that was itself not free from problems, "learning" being an
overgeneral and ambiguous name. Moreover, the field is still widely known by the other
names.[1]
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Training and development encompasses three main activities: training, education, and
development. Garavan, Costine, and Heraty, of the Irish Institute of Training and
Development, note that these ideas are often considered to be synonymous. However, to
practitioners, they encompass three separate, although interrelated, activities:[1][2][3]
Training
This activity is both focused upon, and evaluated against, the job that an individual
currently holds. It enhances his abilities to do his job efficiently.

Education
This activity focuses upon the jobs that an individual may potentially hold in the
future, and is evaluated against those jobs. This enhance there abilities fo job from all
perspective.
Development
This activity focuses upon the activities that the organization employing the
individual, or that the individual is part of, may partake in the future, and is almost
impossible to evaluate.[3]
The "stakeholders" in training and development are categorized into several classes. The
sponsors of training and development are senior managers. The clients of training and
development are business planners. Line managers are responsible for coaching,
resources, and performance. The participants are those who actually undergo the
processes. The facilitators are Human Resource Management staff. And the providers
are specialists in the field. Each of these groups has its own agenda and motivations,
which sometimes conflict with the agendas and motivations of the others.[4]
The conflicts are the best part of career consequences are those that take place between
employees and their bosses. The number one reason people leave their jobs is conflict
with their bosses. And yet, as author, workplace relationship authority, and executive
coach, Dr. John Hoover[5] points out, "Tempting as it is, nobody ever enhanced his or
her career by making the boss look stupid." [1] Training an employee to get along well
with authority and with people who entertain diverse points of view is one of the best
guarantees of long-term success. Talent, knowledge, and skill alone won't compensate
for a sour relationship with a superior, peer, or customer.

In addition to communication skills, the most important areas faced by individuals and
organizations in the 21st century workplace are accountability, employee engagement,
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professionalism, leadership skills, and multi generational issues.

Increasing Personal Effectiveness® is a cornerstone course designed for employees at all levels.
Understand yourself and the day-to-day choices you make that impact your accomplishments and
interactions with others. Both management development and leadership development require the
basic skill sets learned in IPE for success.

Communicating to Manage Performance is a dynamic skills-based, performance management

course designed to empower managers, supervisors, and team leaders to build and sustain high
performance in day-to-day interactions with effective and consistent communication.

The essence of Professional Presence in a Casual World, is to create an awareness of what

professionalism is and what professional behavior looks like so that participants from all
generations and organizational levels leave with ideas on how to enhance their professionalism.

Leading with Credibility is a course for leaders and managers who want to enhance their
leadership skills. Course covers innovation, critical thinking, emotional intelligence, influencing
teams, personal accountability, and values.

Benefits

The Executive Development Program provides high potential executives with conceptual
frameworks to set strategy, make decisions, and lead effectively as a successful general
manager.
Participants will gain an understanding of critical functional areas and their interconnection, as
well as develop skills needed to lead cross-functional teams. EDP is designed to prepare
participants with the critical capabilities to succeed in an ever-changing global business
environment. EDP focuses on how to think, not what to think. By attending, participants will
develop their ability to conduct critical systemic analysis. We teach executives how to better
focus on facts and data in order to:

 Understand the fundamental forces in the economy and within organizations.

 Evaluate the ideas that will shape business tomorrow.

 Analyze and produce creative and imaginative solutions to real-world problems.

 Expand their field of vision beyond a particular functional area or industry.

Program Outline
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Conclusion

Communicating with upper level management is an ongoing process. Working diligently at

the task on a daily basis will lay the groundwork for a positive and successful relationship
between management and the special librarian.

Bibliography

De Stricker, Ulla. “Winning in the Boardroom.” The One-Person Library 19.3 (2002): 6.

“Getting Your Boss to Let You Go to Conferences.” The One-Person Library 15.9 (1999): 7.

Holladay, Janice. “Small Libraries: Keeping the Professional Position Professional.” Special
Libraries 72.1 (1981): 63-66.

Kok, John. “Now That I’m in Charge, What Do I Do?” Special Libraries 71.12 (1980): 523-8.

Lettis, Lucy. “Be Proactive: Communicate Your Worth to Management.” Information Outlook
3.1 (1999): 25-7.

Matthews, Joseph R. The Bottom Line: Determining and Communicating the Value of the
Special Library. Connecticut: Libraries Unlimited, 2002.

O’Donnell, William S. “The Vulnerable