Management Development

Definition: Management Development is the whole of activities to ensure an organization has the appropriate management know-how, skills and competencies to meet its business objectives.
MD includes assessing existing skills and abilities and identifying actual and potential shortfalls and problem areas.
Used interchangeably with executive development and leadership development.
Typical mechanisms used for MD include: coaching, mentoring, action learning, job rotation, executive education, Online MBA Programs.

More on management development. More on succession: Succession Planning.