CHAPTERIZATION

Chapters A B C 1 2 3 4 5 6 7 8 9 10 TABLE OF CONTENTS Executive Summary Objectives Research Methodology Introduction Management Development Programmes For Sr. Executives: Overview Basic Requisites and Ingredients of MDP are for Senior Executives. Introduction to Organization Analysis Conclusion Recommendations Annexure Limitations Bibliography Pages 02 04 05 06 12 16 21 24 35 38 39 41 42

A)

EXECUTIVE SUMMARY

The generation of such dynamic leadership is the crucial concern of organizations, which occupy the commanding heights in the Indian economy. This requires very efficient and effective

management of the process of growing executive leadership in the organizations and how well this is accomplished today will determine the future of the organizations in the economy.

Executive development programs can be organized in various situations i.e. on-the-job or offthe-job in the company or out side the company. It involves the use of many techniques e.g. decision-making skills, interpersonal skills, job knowledge, organizational knowledge, general knowledge by special courses, meetings, conferences, group discussion, seminars, get together etc. These techniques of executive development program are deployed by executive trainers, specialists, external trainers and educationists.

The First chapter Introduce about the subject under study, it clears some of relevant concepts about managers and executives and there Development with putting some light on Executive Development.
The Second chapter is devoted to examine the concept and importance of the Management development for Senior Executives. The Third Chapter reviews the basic requisites of MDPs for senior executives and essential Ingredients. The fourth Chapter gives brief introduction about the organization under study i.e. BHEL. In the fifth chapter a detailed analysis and interpretation of the data available by the survey through questionnaire and personal observation is provided in the modified and simplified way to fulfill the Objectives of Research work. The sixth chapter concludes the Research Project and last chapter provides Recommendations.

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B)

OBJECTIVES OF STUDY

To study different categories of management development programs for executives.

To study the role of management development programs in job affectivity.

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 To analyze the benefits and outcome of MDPs for organization.

C)

RESEARCH METHODOLOGY

The research will be based on non-doctrinal method under which a field study will be carried out to collect the primary data through questionnaires and of HR Manager of BHEL, New Use of

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secondary data in form of various facts and figures with respect to the framework of MDP, s for Executives is resorted to whenever necessary. The nature of the data that has been used in the project under study is both primary and secondary in nature.

Primary data
Questionnaire, personal meetings, method with the concerned persons will be used to collect the primary data. Secondary data Offer documents, fact sheets, news papers, magazines published from time to time and Internet, Company sources.

1. INTRODUCTION

Managers are exposed to learning opportunities whilst doing their jobs, if this informal
learning is used as a formal process then it is regarded as management development.
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The vitality of a business enterprise is largely dependent upon the vigorous men who manage. Great organizers build great dream-like enterprises with their dynamic leadership.

Take out my machine, take over my building and capital but leave my men, again I shall become Henry Ford. -Henry Ford

Management development programmes offer an opportunity to hone the skills of the practicing mangers so that they can face the emerging challenges of the industry with confidence and push their organization for achieving higher growth.1 The main objective of the management development programmes is to provide insights into managerial concepts and techniques relevant for formulating and implementing strategies in functional areas, and to improve the overall perspective for decision-making by integrating functional and general management approaches. The philosophy underlying these programmes is that Management is a rapidly growing and diversifying area of competence and that every executive should continually expand and update his/her knowledge, to remain at the peak of his/her profession. Our intensive short-term programmes, during which the participants are exposed to the latest thinking and the newest development in their field, provide executives with an opportunity to update themselves.2 Management Development Programmes for senior executive of company or organization are also referred as Executive Development Programmes. Managers
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A classic definition is that Leaders do the right thing and managers do things right. A more standard definition is usually something like managers work toward the organizations goals using its resources in an effective and efficient manner. In a traditional sense, large organizations may have different levels of managers, including top managers, middle managers and first-line managers. Top (or executive) managers are responsible for overseeing the whole organization and typically engage in more strategic and conceptual matters, with less attention to day-to-day detail. Top

managers have middle managers working for them and who are in charge of a major function or department 3. Middle managers may have first-line managers working for them and who are responsible to manage the day-to-day activities of a group of workers. Note that you can also have different types of managers across the same levels in the organization. A project manager is in charge of developing a certain project, e.g., development of a new building.4 A functional manager is in charge of a major function, such as a department in the organization, e.g., marketing, sales, engineering, finance, etc. (For example, see Program Planning) A product manager is in charge of a product or service. Similarly, a product line manager is in charge of a group of closely related products. General Managers are in charge of numerous functions within an organization or department.
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Executives as a term generally applies to those people or specific positions in top levels of management, e.g., chief executive officers, chief operating officers, chief financial officers, vice presidents, general managers of large organizations, etc5. In large organizations, executives often have different forms of compensation or pay, e.g., they receive portions of the company's stock, receive executive-level "perks, etc. Chief executives usually pay strong attention to strategic plans and organizational performance, whether measured financially or from impact of services to a community. Many people think of the Chief Executive Officer as heading up large, for-profit corporations. This is not entirely true. The majority of businesses in the United States are small businesses, whether for-profit or nonprofit. Their top executives could be called Chief Executive Officers.

Management Development refers to the activities involved in enhancing leaders', managers' and supervisor's abilities to plan, organize, lead and control the organization and its members. Consequently, many view the term "management development" to include executive development (developing executives), leadership development (developing leaders), managerial development (developing managers) and supervisorial development (developing supervisors).6 Management Development is best described as the process from which managers learn and improve their skills not only to benefit themselves but also their employing organizations. Executive Education is the term used for programs at graduate-level business schools that aim to give classes for Chief Executives and other top managers or entrepreneurs. These programs do
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not usually end in a degree, although there is an ever-growing number of an Executive MBA program that are very similar and offer a Masters of Business Administration upon completion of the coursework.

Executive Development
(Today's organizations are changing dramatically. Successful change requires strong leadership from top positions in the organizations. Therefore, writers often interchange use of the phrases "leadership development" with "executive development". They are not the same. As noted above, this is handy, but it can cause substantial confusion.) Executive development refers to the activities involved in enhancing one's ability to carry out top-level roles in the organization. Some key skills for executives to have included understanding the external environment of the organization, leadership, strategic planning, financial forecasting and analysis, organizing, program planning and human resource management.7 Management Development Program for senior executives 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" is 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

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"development" is generally seen as the most encompassing of the three in terms of activities that build skills and competencies.8 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. 9

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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.

2. MANAGEMENT DEVELOPMENT PROGRAMES FOR SR. EXECUTIVES: AN OVERVIEW

Raining and development are Intentional efforts to improve current and future performance by helping the employees acquiring Skill, Knowledge, and Attitude required to give competitive Advantage. Management development is also part of Training and Development Training is the formal and systematic modification of behavior through learning which occurs as a result of education, instruction, development and planned experience, while Development is any learning activity, which is directed towards future, needs rather than present needs, and which is concerned more with career growth than immediate performance.10 What is Management Development?
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Management development is a systematic process of growth and development by which the managers develop their abilities to manage .So it is the result of not only participation in formal courses of instruction but also of actual job experience .It is concerned with improving the performance of the managers by giving them opportunities for growth and development.11 Global economy is also experiencing increasing clustering of some industries in the nations that have achieved disproportionate worldwide success. This has consequently resulted in swift changes in the business environment and the modern business world demands quality, ethics and excellence, properly injected into the organization at the level of person, process, product and services. To cope with these changes, core competency is identified and leverage for success and all this is made possible through competitive, skilled and professional executives. This kind of changing management requires training and development i.e. executive development. Technical skills are less important whereas the conceptual skills are especially important at the top level12. Executive development should not be viewed just as a capital investment and asset building for the future but also as a tool of employee motivation and retention. It helps contribute in job satisfaction and creates new roles and functions for existing employees of the organization13.

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Therefore, the basic purpose of executive development program is to promote managerial performance by imparting knowledge, changing behavior and enhancing professional and attitudinal skills. Hence the knowledge is the need of the 21st century due to changing business environment not only in India but also globally. It is a systematic process of growth and development by which managers develop their abilities to manage. Executive development may be referred as systematic process of growth and development by which the managers develop their abilities and managerial skills to manage. It is the result of not only participation in formal courses of instruction but also of actual job experience.14 Evaluation of executive development programs literally means the assessment of value and work. Therefore, evaluation of executive development program may be defined as an attempt to obtain feedback on the effects of development program, which helps to improve future development programs on the basis of current experience. The important tools of evaluation of executive development programs are observation, rating, trainee survey and trainee interviews, job satisfaction, morale, promotions, results of behavioral changes such as increased sales, increased productivity and efficiency. There is a need to develop professionalism among the executives in order to face the global competitive environment. Hence, every organization has to ask what are the competencies that contribute for the effectiveness of executives ; their competencies used to be sharpened and this needs appropriate training. Effectiveness itself helps in the achievement of organizational goals

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Management Development Programs for senior Executives are referred as Executive Development. The term Executive Development is used essentially as an indication of a complex process of raising managerial ability in order to improve the effectiveness of management actions. Executive Development is the planned experience, guided growth and training opportunities provides for those who perform the management functions.15 This includes all members of management from the president through all supervisory levels and staff personnel. By executive development programs, an executive gets unprecedented growth and has come to acquire an added relevance and a more central role in business operations and enterprise management. These programmes prepare the candidate for Senior Executive Services. Development programs offer a window of opportunity and provides a platform for young executive development professionals to present innovative and new ideas that could further stretch the envelope for executive development, besides also helping to devise effective strategies for cracking perennial evaluation issues of the development programs like retention and compensation patterns, improvement in taking the managerial decisions and skills, value creation in employee-employers relationships and bridging the generation and gender gap. Some of the players in the field of executive Education are: Business schools, Nonprofit organizations, Corporate universities, Foundations Trade associations, Consulting firms, Freelance educators, Online learning companies.

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3. BASIC REQUISITS & INGRADIENTS OF MDPS FOR SENIOR EXECUTIVES

The concept of executive development program is not new to the world. It has flourished in the US and produced magnificent outcomes. However, in our country, development program of executives is still in its formative stages. The Indian mindset needs to change to adapt to this practice. A limited number of organizations have made use of this development programs. It needs to be understood that development program is not always a remedial measure but more of a developmental technique. Executive development is to socialize the vision, values and mission of an organization. SENIOR executives play a vital and significant role in the upper echelons of management. The efficacy of their performance will determine the success or failure of an organization. As an executive moves vertically in an organization, a metamorphosis takes place at some point of time in the scope and scale of his job. When it happens, it is a paradigm shift and a jump.16

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There are some basic competencies which are very essential in Development aspect of senior Executives and to outperform competitors. These 7 workplace competencies are: 1. Learning to learn; 2. Communication and collaboration; 3. Creative thinking and problem-solving; 4. Technological literacy; 5. Global business literacy; 6. Leadership development; 7. Career self-management. For Executive development programs basically following methodologies are applied: Lesson by both in-house and guest faculty. Panel discussion to promote appreciation divergence of opinions and views. Case study. Films. Group discussion. Simulation exercise. Seminars. Moot Court and Mock Trial.
Order and judgments writing practice.

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 Practical demonstration. Problem solving exercises. Report Writing (Term Paper, Syndicate Paper)
Group Work.

The important steps or ingredients of a management development programs are: 1. Analysis of Organizational Present and Development Needs 2. Appraisal of Present Management Talent 3. Inventory of Management Manpower 4. Planning of Individual Development Programs 5. Establishment of development Programs 6. Evaluation of the programs

Analysis of Organizational Present and development Needs:

The decision to launch a management development programs having been made, the next thing to do is the close and critical examination of organizational present and future developmental needs. We should know how many and what type of managers are required to meet the present and future needs. An examination of the organizational structure in the light

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of the future plans of the organization should help one know what the organization requires in terms of functions, departments and executive positions. Having got the above the information it is easy to prepare the descriptions and specifications for all management positions which in turn, gives us the information as to the kind of education, experience, training, special knowledge, skills and personal traits required for each job..

Appraisal of Present Management Talent:

In order to make the above suggested comparison, a qualitative assessment of the existing management talent should be made and an estimate of their potential for development should be added to that. Only then can it be compared with the projected required talent.

Inventory of Management Manpower:

This is prepared to have complete information about each executive in each position. For each member of the management team, a card is prepared listing such data as name, age, length of service, education, work experience, training courses completed, health record, psychological test results and performance appraisal data etc. The selection of the individuals for the management development programs is made on the basis of the kind of background they possess. The management may set certain standards in terms of each of the above factors mentioned on the cards to qualify for the management development programs. Such information when analyzed discloses the strengths as well as the deficiencies of managers in certain functions relative to the future needs of the organization.

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Planning of Individual development Program:

Guided by the results of the performance appraisal which indicate the strengths and weaknesses of each of his subordinates the executive performs this activity of planning of individual development programs. Each of us has unique set of physical, intellectual, emotional characteristics. Therefore, a development plan should be tailor-made for each individual. It would be possible to impart knowledge, skills and mould behavior of human beings, but it would be difficult to change the basic personality and temperament of a person once he reaches adulthood stage.

Establishment of Development Program:

It is the duty of the HR department to establish the well-conceived development opportunities. The HR department has to identify the existing level of skills, knowledge etc, of various executives and compares them with their respective job requirements. Thus, it identifies developmental needs and will establish specific development programs like leadership courses, Management games, and Sensitivity training. The department may not be in a position to organize development programs for executives at the top level as could be
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organized by reputed institutes of management. In such situations, top management deputes certain individuals to the executive development programs organized by the reputed institutes.

4. INTRODUCTION TO ORGANISATION

BHARAT HEAVY ELECTRICALS LTD.

BHEL is the largest engineering and manufacturing enterprise in India in the energyrelated/infrastructure sector, today. BHEL was established more than 40 years ago, ushering in the indigenous Heavy Electrical Equipment industry in India - a dream that has been more than realized with a well-recognized track record of performance. The company has been earning profits continuously since 1971-72 and paying dividends since 1976-77. BHEL manufactures over 180 products under 30 major product groups and caters to core sectors of the Indian Economy viz., Power Generation & Transmission, Industry, Transportation, Telecommunication, Renewable Energy, etc. BHEL has acquired certifications to Quality Management Systems (ISO 9001), Environmental Management Systems (ISO 14001) and Occupational Health & Safety Management Systems (OHSAS 18001) and is also well on its journey towards Total Quality Management.

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BHEL's operations are organized around three business sectors, namely Power, Industry including Transmission, Transportation,

Telecommunication & Renewable Energy - and Overseas Business. This enables BHEL to have a strong customer orientation, to be sensitive to his needs and respond quickly to the changes in the market. BHEL's vision is to become a world-class engineering enterprise, committed to enhancing stakeholder value. The company is striving to give shape to its aspirations and fulfill the expectations of the country to become a global player. The greatest strength of BHEL is its highly skilled and committed 42,600 employees. Every employee is given an equal opportunity to develop himself and grow in his career. Continuous training and retraining, career planning, a positive work culture and participative style of management all these have engendered development of a committed and motivated workforce setting new benchmarks in terms of productivity, quality and responsiveness

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FACTS
Started in 1956 in Bhopal, India, today the company has 14 manufacturing plants and 150 sites in India and abroad.
BHEL has been conferred the status of a Navratna (nine jewels) company by the

Government of India. Ranks among the top 10 power equipment manufacturers in the world.
Last year BHEL won the prestigious Golden Peacock award,

Registered Office: BHEL House, Siri Fort, New Delhi - 110049, India. Telephone : +91 11 26001010 (multiple lines) Fax : +91 11 26493021; +91 11 26492534

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5. ANALYSIS

ANALYSIS 1- Different categories of management development programs for executives.

India's largest engineering and manufacturing enterprise conducts regular training programs for its executives to develop them into fulfilled individuals and effective managers. And also complying with NTP for power sector . By the analysis and interpretation of the data collected from the respondent it reveals that the Executive Development in BHEL can be divided into two types

In House

out House

1. Out house Training & development

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This type include management development programmes conducted in institutions with whom BHEL has tie up and in Organizations who sponsor MDPs and Executive Training Sessions. According to data collected from field study BHEL have tie ups with many institutions and also send there executives to external organization. BIM-Tiruchchirappalli has symbiotic relationship with BHEL since its inception in 1984BIM conducts a number of Executive Development Programs for BHEL in the areas of Corporate Finance, Marketing and Organizational Behaviour. There are many Management development programs for premier institutes with whom BHEL have collaborated and BHEL also send its executives to National and International Symposiums for raising the global Knowledge of business. The institutions where executives of BHEL are invited to attend symposiums and Conferences are: FICCI CII ASSOCHAM NASSCOM ILI IIM, KOLKATA NITIE, MUMBAI SCOPE Ministries ISRO

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 DRDO CIPET, Chennai

2. In house Training and Development

BHEL has its own Human Recourse Development Institute which provides rigorous training to its managers at each and every rank. The Institute provides Training in the field of Strategic management, Contract management, Marketing management, Project management, Human Resource management, Activity based costing, Performance management, Emotional Intelligence, Values Laboratory, Human-process Laboratory, Leadership Development, Team Building, Trainer Development, and other functional and behavioral areas of management. To optimize the use of emerging information techniques in management, initiatives have been taken to constitute three areas of excellence viz. Business development Organization development Technology development

At the Noida institute, senior employees are trained other managers are trained else where like in Hyderabad. The centre has also collaboration with institutions for education on business ethics and upliftment of moral values of senior executives. The Brahmakumaris being the HRDI favorite. There are yoga and meditation classes to create harmony. Today, even foreign companies recognize the need for emotional intelligence. More important than the IQ or technical skills is the EQ. It ensures effective leadership The executive are also

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given Tips about same. They are made to look into their goals, motivation, relationships, communication and social skills. In BHEL every month conferences are organized on recent power related Issues to Increase the Knowledge of Executives relating to Emerging Issues.

Type of Programs which help in Executive Developments are:

Symposiums, Workshops, Certificate Programs, interactive meet, Executive Development Programs, Seminars etc.

Basic focus is on soft skills like;

Executive coaching, Leadership Development, Mentoring skills, Creativity and Innovation, Action Development, Strategically Thinking, Public Speaking, Negotiation Skills, Managing Peoples, Adaptation to Change, Integrity and Ethics Risk Management
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Development of Individual Potential Leadership Styles and Management of Conflicts in Groups and Organizations Stakeholders relationship management.

ANALYSIS 2- Role of management development programs in job affectivity.

Researchers Interpretation through available data is that in the past, a companys assets were more tangible; however, with the growth of the knowledge economy, much of a companys assets now reside in the technical and industry-specific expertise of its associates and executive team. As a result, the search for a sustainable competitive edge led the organization to conclude that the development of human resources and capabilities would be more difficult for competitors to imitate. He is expected to be a jack of all trades, and master of a few

Executive education in MDPs for top level managers plays a very significant role in strengthening the base of organization. Executive education strives to enhance: The well-trained executives skill set, Assertiveness, Strategic thinking, while Sharpening analytical skills, Communication strategies, and Leadership principles
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According to the Interview it has following effects on job affectivity

Behavioral change - inclination towards positive thinking. Increase in efficiency of Executives to play there respective roles. They need to play the roles

of goal setters, planners, controllers, coordinators, organization designers, leaders, etc. Studies of what senior managers actually do at work led to the identification of several distinctive roles such as the figurehead, leader, and liaison roles, monitor, disseminator, and spokesperson roles, and entrepreneur, disturbance handler, resource allocator, and negotiator roles. Previously the executives of BHEL does not stayed in department after 5 p.m but now the trend has changed they work as competitively as private organizations managers and work till they complete the task of day. Thus delay in work has reduced.

ANALYSIS 3- The benefits and outcome of MDPs for organization.

Insight skills provide the learner with the ability to learn the right things from experience. Developing disciplined and structured approaches to evaluating personal experiences generates continuous learning. This desired outcome is consistent with the lifelong learning model Insight skills capture reflective qualities that require objectivity, facts, and the continuous search for disconfirming evidence.

Insight skills illuminate the less-obvious solution and strategies, and often lead to thoughts, ideas, and approach in stark contrast to reactionary and predisposed hypotheses that are often biased by limited experience.
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Benefit of executive education in the organization as interpreted by the researcher is towards: (1) Gain a greater understanding of competition, (2) Expose executives to experts and information, (3) Develop corporate culture, (4) Provide networking opportunities, (5) Provides a forum for discussion and ideas, (6) Provide interaction with management, (7) Provide education in a timely manner, and (8) Complement other educational opportunities. Other various benefits of MDPs are that the Executives acquire a number of important skills, Including:
Strategic planning and thinking: The simulation involves the setting of objectives and the

development of a detailed plan of activities that are interconnected, time-phased, and financially sustainable. In particular, strategic thinking requires an understanding of tactical options and how one can skillfully select and coordinate these options in order to achieve a desired objective;

Management strategy: Managers who formulate strategy must be focused, flexible, and

fast; they must also be capable of recognizing fundamental shifts in business conditions. Moreover, it is essential that the manager explore new possibilities by developing and testing ideas, in both the company and the market, and that he/she is ready and able to reallocate resources when conditions require the firm to move in new directions;

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 Leadership, teamwork, and interpersonal skills: Participants who lead teams during

simulations must assess the teams skills, organize the work, manage the work in process, and reorganize as needed. This leader must help the team to become more cohesive, create a sense of mutual commitment and trust, nurture the talents and capabilities of team members, and help participants develop team skills. The simulation can be tense because team members do not forget whose ideas were accepted and whose were not. They also remember whose ideas helped the organization, as well as whose held it back or even damaged its potential. In the end, simulations require all team members to develop communication skills and learn the arts of negotiation and confrontation;

Budgeting and Cash-Flow Management: The management of resources usually translates

into the management of money. Cash-flow management is perhaps the most difficult technical skill to master. One of the advantages of the simulation is that all decisions are tied in to the income statement, balance sheet, and cash-flow statement. Oftentimes, participants learn to carefully manage receipts and disbursements and to project their cash-flow requirements several quarters into the future;
Understanding and Delivering of Customer Value: Simulations can help participants gain

an understanding of how a particular component or service translates into a benefit for the customer. Moreover, participants can experience the dilemma created when its products are imitated by competitors and customer expectations shift upward. In the end, participants should become proficient in understanding the market and responding to and anticipating market needs.

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 Evolution of leadership: Organizational politics is an undesirable and yet inevitable aspect of corporate life, but not many senior executives are able to adjust and reconcile to this reality. It is intriguing that even management thinkers and academic scholars seem to be shy of this subject. Developing leadership skills is sine qua non for a senior executive. His leadership style must be aligned to the strategic complexion of the company. The style may be different in a company undergoing a major expansion, as against a company which is consolidating its activities, or merely carrying on its current volume of business.

Communication of vision: it becomes critical to project a clear vision, a picture of what

the company will look like in the distant future. It is the senior executive responsibility to create and communicate such a vision, or an end state for an organization. At a senior level, the number of employees an executive has to oversee is likely to be large and, therefore, his interaction with them will be limited and indirect. Nevertheless, he is charged with the task of motivating them. He must gain their loyalty and commitment for the fulfillment of the company goals. Moreover, employee morale is usually an early casualty to any structural transformation. MDP advance his communication with team.

Analysis of external environment and pronouncement: Senior executives should develop

a holistic understanding of the external economic environment, and the myriad changes taking place therein. What does this involve? A complex environment warrants a complex method of analysis. In large organizations, this competitive analysis is done by specialist business planners. But the planners will only make available the findings and conclusions of their study: It is the senior executive who must digest the gist and guide

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further course of action. Executive education develops the decision making and strategically thinking of Top level managers

Development is a qualitative transformation into a higher state of being; it is a transition to a new dimension of executive competence. It is the audacity and capacity to challenge and change entrenched patterns of thought and behavior.

Another benefit is that Executive becomes adept at the processes of analysis, planning,

execution, and control.

Organization gets more effective decision-making and problem solving.

Improves labor-management relations.

Enhanced confidence, commitment & motivation

Recognition, greater responsibility & pay improvements.

Personal satisfaction, achievement and enhanced career prospects.

FUTHER, there are some more competencies which are improved and Refreshed by Executive Training Which are as follows:

Conflict Management
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 Motivation Stress Management Decision Making & other management principles How to become effective executive Dealing with Union / Associations Appraising performance. Delegation, control & Coordination
Interpersonal relations

Personality Development Work Life Balance

The outcome is that top management like CEOs discover that they often are better positioned to communicate and implement corporate strategy, to build strategic unity throughout the company, and to create a cadre of change agents. Business performance improvements measured in money values, tracked back in part to and compared with full training and development costs. Education on ethics helps in reducing White color crimes. Executive development leads to Innovation in organization culture and business process re- engineering Initiatives.

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6. CONCLUSION

Management Development Program is an in-depth professional intervention, which enhances managerial functioning through multiple interactions with key executives, one-on-one or in groups. Development is more effective when it includes senior level officials, as it then helps change mind-set, and influence behavior throughout their organizations. It is customized to the specific needs of employees, is based on on-the-job experience, has direct application to work situations and thrives on the feedback of participants. The exercise involves continual guidance, follow-ups and learning.

By doing an intensive study on the various parameters to evaluate the effectiveness of the executive development programs the researcher concluded that the executives are the dynamic life-giving element in a business.

The caliber and performance of managers will largely determine the success of a business. If the business wants to improve the quality of its managers, it must make a considerable investment on its human resource and introduce imaginative and systematic development schemes for them-in which managers themselves play a crucial role. All enterprises need to devote great attention to the continuous supply of their future managers, both functional and general.

Management of most Indian companies which are striving to become major players in their sectors are immersed in day-to-day issues and often do not devote adequate time and effort to
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build long-term strength in their organizations. The executive developer or instructor is the catalyst encouraging and supporting the CEO and his team to build an effective management. Executive development program embodies professionalism in executives through correct, deliberate and objective application of knowledge, skills and attitudes towards the accomplishment of a set of objectives.

BHEL is major player in power sector. it is obvious that there is almost a consensus and Strategy that proper and well prepared executive development program can assist in achieving the sustainable growth rate personally and professionally, the image of which you can see in the mirror of an organization as a drastic and balanced growth which shows a bright future and a long journey for the organization and executives.

Executive development program is an investment in human resource with a promise of better returns in future. A companys executive development program pays dividends to the executives and the organization by leads to enhance profitability and more positive attitude towards profit orientation. It improves the job knowledge and skills at all levels of the organization. At last, the researcher concluded that the executive development programs will return values to the organizations in terms of increased productivity heightened morale, reduced costs, greater organizational stability and flexibility to adopt the rapid changing business environment.

Change is the name of the game in which a senior executive is put to an acid test. The bad news is that it has a beginning, but the end never seems to be in sight. There is an intrinsic danger that people have a propensity to relax and turn complacent after the trauma of going through a
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massive change programme. Like termite to timber, this malaise may not be transparent, until much damage has already been done below the surface.

It is the will and skill to stay in and sustain the game, despite no respite, which will take the company to the top; and then, to retain it there may be a different ball game altogether; but the key player everywhere will be the senior executive

7. RECOMMENDATIONS

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Evaluation of training must be made a compulsory part of training.

At present BHEL spends just about 0.05%. The expenditure on training must be increased in order to improve its turn over.

Executive Training in BHEL is not much advanced up to levels of Private Firms Like TATA, and Reliance there Mangers also go to foreign universities but there is no occasion of Foreign education for BHEL executives.

8. ANNEXURE
Semi-structured questionnaire used in interviews with HR Manager of the respective Organization
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1) Can you briefly explain what is meant by executive development and what is its significance? 2) Why there is Need for training of senior executives? 3) How many Training Programs for senior executives take place every year? 4) What is duration of Training Programs for senior Executives? 5) Whether these programs are part of HR field or separate from main stream Management function? 6) Can you explain the basic frame work of Training programs conducted for senior executives? 7) Is there any change in Trend of executive education pattern in your Organization? 8) How MDPs can be considered an Investment in Human Resource? 9) What is basic focus of Management development Programs for senior Executives? 10) Does the organization arrange Management development programs for senior Executives of different Departments in another way? 11) How does the HR department come to know about requirements of Training and Development of senior executives? 12) What are benefits of Executive development does it plays any role in job affectivity.
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9. LIMITATIONS
As the BHEL is very big Organization to engage a meeting with HR manager was very difficult job and he was not able to give much time to me. There was lack of time in field study as this project requires comprehensive discussions with the Managers. And the rule of deemed attendance is already
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scraped in the university, so, researcher was not able to give more time of field visits. In BHEL pre analyzed data is not available with Organization on Executive development Programs.

10. BIBLIOGRAPHY

Arthur, M., & Rousseau, D. (1996). A career lexicon for the 21st century. Academy of

Management Executive. (Web edition)

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 McCall, M. (1998). High Flyers: Developing the Next Generation of Leaders. Boston:

Harvard Business School Press. Hoag, B. and Cooper, C.L. (2006) Managing Value Based Organizations: It's Not What You Think.( e-book)

www.themanagementor.com.

www.hindubusinessnews.om
www .books.google.co.in

www.sunholidays.co.in www.eonomictimes.com www.coolavenues.com www.mbatuter.com www.training.seedinfotech.com www.high-impact-leaders.com www.careerbuilder.com www.bhel.co.in

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