Subject(s): Human Resources Management/Organizational Behavior, Keyword(s): management development, executive education, financial and economic crisis

With the current financial and economic crises and expectations or reality of a recession companies are looking at ways of optimizing the use of their resources and reconsidering their investments. Efforts at developing management talent and leadership capacities of company employees are often associated with significant costs and may, therefore, be among the first to undergo scrutiny in terms of feasibility and expected effectiveness. On the other hand, underinvestment in preparing people for leadership and management roles and tasks may come at a cost for the organization's survival, competitiveness, and future success. Although leadership development can take many forms, executive education courses and programs traditionally play a large role in the process, and constitute a major part of leadership development costs. This business brief outlines a number of issues that need to be taken into account when designing, developing, and delivering leadership and management development programs under the conditions of scarce financial resources.