What is a Management Development Program?
Management development is a methodical and meticulous procedure. A management development program is a company’s strategy for developing its executives and managers. The management development program is done with all company employees to impart managerial skills.
This program is essential for those employees who want to make a name for themselves in the workplace to become contenders for top management jobs. For most the top management jobs, you need extra expertise & certifications as a pre-requisite to qualifying for that job.
This management development program helps enhance knowledge and skills and fosters teamwork by cultivating mutual trust, cooperation, and understanding. The program helps in improving decision-making abilities regarding customer satisfaction, employee and vendor relations, and company productivity.
Eligibility Criteria for the Management Development Program
- A Bachelor’s degree from a recognized board or university is required.
- Must have a cumulative grade point average of at least 50 per cent (45 per cent for SC, ST, and PWD/DA categories) or equivalent (CGPA).
- Two years of industry experience from reputed companies.
- Participants under the age of 45 will be given preference.
- Fluency in written and spoken English.
Benefits of the Management Development Program
– To increase human capital:
The sum of your workforce’s knowledge, intelligence, and experiences is human capital. Educating and training your staff is one of the most effective strategies to boost human capital. A management development program can help you bridge the skills gap preventing your most exemplary staff from reaching their full potential.
– To create a culture of innovation:
Your organization can get a competitive advantage through innovation. It is particularly true in a crowded market. A culture of innovation can make it simpler to develop innovative solutions to challenges that are difficult to solve. Management development is an excellent technique to create opportunities for new insights through providing experiences.
–It increases employee retention:
For businesses, employee turnover is costly. According to the Work Institute, employee turnover costs around 30% of a person’s annual income. It also states that 37.9% of employees quit after less than a year. To hire from inside, though, you must first develop your managers and leaders. It’s an investment, but it’ll pay off in the long term if your best people stay with you.
– It helps improve succession planning:
The existing managers in your company will not be there indefinitely. It’s easier to plan for the succession of these jobs when you already have a management development program in place. You can identify the most promising trainees and prepare them to take on additional responsibility before the time comes.
Admission Process of Management Development Program
Mostly it’s done through an entrance test or on a merit basis. At TAPMI, the selection process has three stages:
- Registration and Counseling:
Candidates can express their interest and request a brochure by filling out an online form. Candidates might also request a call from a counselor.
- Personal Interview:
The short-listed candidates will attend a personal interview round conducted by the Program head or Virtual Executive Learning head. The interview mode will be virtual/video conferencing. If selected for the program, you will get an offer letter from the institution asking for payment of the first installment of the course within ten days.
After paying the first installment, participants will have access to the Learning and Engagement portal and other educational material, including primer content for foundation courses. Participants can get a sneak peek at all six modules to help them prepare for the program.
Syllabus of Management Development Program
The course curriculum of the Management Development Program can change from institution to institution, but the course content remains the same. Generally, Management Development Program is into four semesters or modules or in Terms.
-Marketing Management I
-Financial Management I
-Information Systems for Managers
-Accounting for Managers
-Marketing Management II
-Financial Management II
-Human Resource Management
-Macroeconomics & Bus. Env.
-Business Research Methods
-Enterprise-wide Information Systems
-Legal Environment of Business
-Soft Skills I
-Business Strategy I
-Management Control Systems
-Optional Free Elective I
-Soft Skills Lab II
-Business Strategy II
-Business Ethics and Corp. Governance
*Subjects might change in different institutions
The MDP course offered by TAPMI has some changes in the subject listed here.
TAPMI’s Executive Education Centre in Bangalore offered a two-year Executive Post Graduate management program for working executives stationed in Bangalore for several years. The TAPMI MDP program is slightly different as they provide both long-term & certificate courses according to the student’s need.
We offer a two-year Executive Post Graduate management program. TAPMI has also provided IT, Banking, and Service companies with 11 months of industry-specific certificate programs. Through our MDP, we try to foster teamwork by cultivating mutual trust, cooperation, and understanding, increasing productivity.
Scope, Career Prospects and Job Opportunities after Management Development Program
After completing the Management Development Program, candidates can pursue higher degree courses in related fields for advanced research work. They can serve as management analysts, often known as management consultants, to improve the efficiency of an organization. They also advise management on enhancing an organization’s development and profitability by lowering expenses and increasing revenues.
Career prospects & job opportunities
Management development program graduates can work in various settings, including multinational corporations, museums, theme parks, colleges and universities, etc. A fresher can expect to earn between INR 3 lakh and INR 10 lakh when they begin their career in this profession.
What are the fees of the Management Development Program?
It can start from a lakh and go above twenty lakhs for the whole course.
TAPMI centre for executive learning is an excellent choice to boost your career. TAPMI’s curriculum provides & promotes multidisciplinary and holistic education to achieve clearly stated program and course objectives. TAPMI’s faculty members have extensive research, industry, and academic backgrounds, and they emphasize experiential learning through pedagogy such as case studies, simulations, and fieldwork.
Management Development Program FAQs
-How long does the Management Development Program last?
The length of the curriculum varies from one college to the next. It usually lasts up to two years.
-What is the average salary after completing the Management Development Program?
A graduate of a Management Development Program might earn anywhere from INR 3 LPA to INR 10 LPA. As one progresses up the corporate ladder, one’s remuneration may improve.
-Is it possible for me to continue my education after the Management Development Program??
Yes, candidates can pursue advanced research work by obtaining higher degree courses in related disciplines. They can work as management analysts or consultants.
-What kinds of job roles are available after Management Development Program?
Logistics Manager, Sale-Purchase Manager, Teacher and Professor, Publisher and Columnist, Executive Director and Head, Tourism Manager, Retailing Manager, Hotel and Catering Manager, Accountant and Public Relations Officer, and others are among the top career roles available to MDP graduates.