Nobody is born an executive, but rather develops into one. The purpose of executive development is to prepare employees for executive roles. This does not only apply to new executives. Established executives are also trained in executive development to rise to the challenges of their position.
The aim of executive development is to train employees to become executives by developing them and providing them with the necessary qualifications. On the one hand, this is intended to retain employees, but on the other hand, it is also intended to maintain a pool of junior executives in order to be able to revert to them in case of vacant positions.
The contents of executive development are very diverse. It is about developing a wide range of competences, such as making, explaining and implementing decisions, leading a team as well as acquiring the necessary knowledge of methods to delegate tasks. The main responsibility of an executive is to lead their staff. Therefore, as part of the development programme, executives are to be trained on topics such as staff motivation and conflict management. This also includes working on the ability to be a mentor for their own staff.
Additionally, the executives learn to assert themselves and to use convincing rhetoric to present their opinions in a factual manner.
Executives also need to be trained in organisation, systematic thinking and time management. After all, they make important decisions for the company, the effects of which they must consider comprehensively.
Executives have to take responsibility for others but also for themselves. This also includes acting as role models for their employees.
Methods of executive development are coaching, continued education, mentoring or even business games and case studies.