Management Development and Corporate Resilience: A Review of Literature

Abstract

The paper examined the connection between management development and corporate resilience. The business environment is so dynamic with external forces far beyond manager’s control. Managers are trying persistently to increase the performance of their organizations irrespective of the type and purpose of an enterprise, its managers or leaders seek to enhance the way an enterprise conducts its business by adopting management practices which aim to improve effectiveness, efficiency, safety, including resilience. Any organization's capacity for resilience can be judged by its ability to uphold its standards and persevere in the face of numerous agitations nowadays. One way to mitigate this seemingly fast changing business environment is through management development. Corporate resilience, on the other hand, is the capacity of an organization to endure, and perhaps even prosper, during times of adversity. On the other hand, management development is the process of educating and training staff members to become effective managers while also tracking the development of those talents through time. Management development has its dimensions such as on- the –job training, job rotation and understudy position while the corporate resilience has it measure as adaptive capacity, situation awareness and keystone vulnerability. Research findings shows that management development significantly affects corporate resilience (adaptive capacity, situation awareness and keystone vulnerability) in the organization. The article comes to the conclusion that businesses today, which are an essential element of society, are faced with a wide range of risks that they must recognize, assess, and manage in order to stay in operation. This paper recommends that management should accentuate the factors that positively impact on their corporate resiliency such as training on the job, job rotation and understudy position. We also recommend for further studies should be carried out to gain more insight into corporate resilience in the organization.