Do you remember the business suit you bought for your first job interview? It is very likely that the suit no longer fits. Probably, it is out of fashion, it does not represent the person you are today, or it is not suitable for the position you hold now. In much the same way, your management skills may also be out of date.
One way to learn about the latest development is through executive education – short courses designed specifically for experienced managers. Business schools, consulting firms and trade organizations all offer management development courses. Many companies also offer courses to their own employees. Here is a guide to choosing courses that are suited to your needs.
What’s In Store?
Unlike MBA programs for managers, executive courses do not generally lead to a degree. Executives can choose between open programs and custom (also called customized) programs.
Open programs are like buying a suit off the rack: there is a wide selection and something for every taste. This type of management training course is open to executives from all companies, with the advantage that executives are often more open when dealing with peers from other companies than with people from inside their own firms. When participants come from different countries, this can also provide insights into how problems are solved in other cultures.
Custom programs are open programs that have been adapted to suit a particular company or industry. The most successful corporate education providers now tailor their programs to each individual client.
When companies want an even higher degree of specialization in training, they create their own training centers, academics, or corporate universities (CU). The first was General Electric’s Corporate Business School, established in the 1950s; now there are more than 2,500 CUs worldwide. These academies offer training in management development as well as corporate culture.
Most corporate universities also offer courses that are open to managers from outside the company. It is not only multinational firms that establish corporate universities. Large, family-owned businesses, too, often prefer to develop their own management training. Their attitude is, “We do not need advice from outside; others can learn from us”.
Selecting A Program
Once you have an idea of the type of program you want, you will need to narrow down the choice of courses. Think about the following areas:
- Focus: What do you hope to gain by taking the course? Do you want to become familiar with business practice in China? Do you want to use IT more effectively? Decide on one or two key areas, then check which schools have the largest programs or best reputation in these areas.
- Cost: Managers may find it difficult to justify the cost of executive courses, especially when their firms are reducing expenses or staff numbers. Top business schools can offer world-class teachers with knowledge of the latest management trends. Yet such programs can cost up to $50,000 for a two-month course, not including travel and hotel expenses.
- Location: Taking a course in another city or country means higher costs, but it may be worth the expense and travel time if your aim is to make local contacts there. Some business schools have entered into partnerships so they can offer courses in several countries or geographical regions. Wherever the course is located, taking courses in English will help you to improve your business vocabulary.
- Course length and dates: Programs have very different lengths, from short courses lasting a few days or weeks to “executive development” programs, which can last several months. Think seriously about the amount of time you are able to invest. The program date is of great importance if you are in an industry in which it is impossible to take courses at a certain time of year.
- Contacts: One of the most valuable elements of any executive education program is the opportunity to make new contacts. Look for a course that allows time for executives to meet and share ideas.
- Rankings: The rankings are based normally on responses from participants or client companies to questions on customer satisfaction. Remember, however, that although such rankings are useful guide, they are not a complete list of available programs. Another way to find out more about specific program is to ask the school to put you in contact with past participants.
Getting In
In general, open courses at business schools are taught only in English. This is also true for custom programs and upper-level management courses at corporate universities. You rarely need to take a language exam to get in, but you do need to speak and understand English well to get the most out of such courses.
Most executive education programs do not have admission requirements. Some expect you to be at a certain level within your company or to have a specific educational background or a certain number of years’ experience. Some courses may be recommended to you as a part of the company’s management development program, and some may be attended by invitation only.
The Right Fit
Most experts agree that the need for management training will grow in the years to come. Companies are increasingly recognizing that, after two or three lean years of investment, it is now essential for them to invest in management training. Executive education has a lot more to offer than new skills; it may even help you see yourself in a new light. You could have a chance to make contacts with other executives.
That old suit may no longer fit, but learning never goes out of style.
For More Information
American Management Association: The AMA provides services and seminars in the US and at many centers in Asia.
European Foundation For Management Development:
Europe’s largest network association in the field of management development, it has over 890 member organizations from academia, business, public service and consultancy in 88 countries.
University Consortium For Executive Education: UNICON is an organization of leading business schools with more than 70 members.
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