Types of MDP’S/EDP’S
Management Development Programme (MDP)
Programme dedicated to the latest techniques and trends in the core areas of management and finance. It has been developed taking into consideration the new challenges of the corporate world, alongside the continuous evolution of the media and the rapidly increasing pace of business. This programme will keep current managers up to date with all the recent trends, helping them to stay ahead of the curve and progress in their roles.
Objectives of Management Development Programs
(i) Increasing the capabilities of managers
Typically, managers are required to carry out a number of activities, including supervising, organizing, planning, leading, communicating, motivating, etc. All these functions and more require capabilities, knowledge, and skills. The objective of these programs, therefore, is to induce these capabilities in the managers to make them more efficient than before.
(ii) Fostering team work
Team work is one of the essences of managerial success. Programs designed for development of managers help develop mutual trust, feelings of cooperation, and mutual understanding. All these foster team work and will contribute to the success of the organization.
(iii) Improves decision-making
Development manager programs are intended towards improving decision-making abilities of managers. The success or failure of any organization depends on the decisions taken by managers. Similarly, other areas that are dependent on the decisions taken by managers include customer satisfaction, relation with employees, and relation with vendors, profitability and productivity of the organization, etc.
These programs help budding managers realize the importance of accurate decision-making and enable them to take more of those in the years to come.
(iv) Ensuring personal growth
It is important to increase the tenure of managerial employees in an organization. To ensure this happens, there has to be a personal growth of managers. Therefore, it is important for organizations to shape the future of every manager and give him the space to grow. Managerial programs help a great deal in this regard.
(v) Aiming for succession planning
In an organization, future managerial positions can be created by market expansion, attrition, internal mobility etc. Also, it is risky and unpredictable for organizations to hire managers externally. Therefore, manager programs help design and develop succession plans to generate future managers within the organization.
Types of Management Development Programs
There are two types of development programs available for managers – off the job and on the job.
Off the job programs
In this type of management program, managers are required to attend seminars or classes outside their office space. According to the believers of this program type, managers tend to learn more and comfortably, especially when there is no job stress involved.
Typically, these programs can be conducted as in-house classroom instruction sessions or in educational institutes that specialize in managerial development.
On the job programs
In this type of development program for managers, different levels of competency, knowledge, and skills are imparted at their work place to go along with the daily responsibilities. All the technical training required for managers are given through this program type.
This program type is generally supervised by expert supervisors under whom budding managers learn the nuances of managerial tasks. The supervisors work on the weak areas of budding managers and guide them wherever necessary.
Enterprise Development Programme (EDP)
Enterprise Development Programme (EDP) is to develop a model for supporting and investing in small and medium rural enterprises in places financial institutions do not reach.
EDP seeks to promote a different, more business-like approach to international development, more ambitious than conventional livelihoods initiatives and underpinned by robust commercial disciplines. It is, in effect, a social venture capital fund that identifies, nurtures and invests in small and growing businesses throughout the developing world – providing a mix of finance, training and advice.
There are three key elements to the EDP approach:
Agriculture. Studies have shown that investing in small-scale agriculture delivers more – in terms of reducing poverty – than other sectors. At the same time, food and agriculture sectors offer high growth opportunities.
Women. Women in rural areas often don’t get the same opportunities as men, even though they are business-savvy, and do most of the work on the farm and in the home. Our enterprises ensure that significant opportunities are created for women, from production to marketing, and from the farm to enterprise management.
Small and Medium Enterprises (SMEs). Whilst microfinance offers great opportunities, evidence suggests that it is not the most effective way to reduce poverty and drive economic growth in the long-run. EDP helps promising businesses to reach SME size, so they can more easily ensure market access for thousands of farmers while also achieving economies of scale.
EDP is a programme meant to develop entrepreneurial abilities among the people. In other words, it refers to inculcation, development, and polishing of entrepreneurial skills into a person needed to establish and successfully run his / her enterprise. Thus, the concept of entrepreneurship development programme involves equipping a person with the required skills and knowledge needed for starting and running the enterprise.
Objectives of EDP:
The major objectives of the Entrepreneurship Development Programmes (EDPs) are to:
- Develop and strengthen the entrepreneurial quality, i.e. motivation or need for achievement.
- Analyse environmental set up relating to small industry and small business.
- Select the product.
- Formulate proposal for the product.
- Understand the process and procedure involved in setting up a small enterprise.
- Know the sources of help and support available for starting a small scale industry.
- Acquire the necessary managerial skills required to run a small-scale industry.
- Know the pros and cons in becoming an entrepreneur.
- Appreciate the needed entrepreneurial discipline.
- Enable to communicate clearly and effectively.
- Develop a broad vision about the business.
- Make him subscribe to the industrial democracy.
- Develop passion for integrity and honesty.
- Make him learn compliance with law.
Types of EDP’S