Gaining Competitive Advantage through Strategic Management Development (SMD)

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Abstract
Global competition has forced downsizing and restructuring, producing a shortage in many organizations′ managerial talent base. This deficit has highlighted an important need to integrate management development into the competitive strategy formulation process. However, many organizations lack the commitment to adopt the concepts of strategic management development (SMD), fail to understand fully its long‐term value, and/or lack the knowledge to take the steps necessary to develop it as a component of their competitive strategy. Presents a conceptual framework for adopting and integrating SMD into the competitive strategy formulation process as a means for ensuring the continued availability of trained and experienced managers. Stressing the need for the realignment of resources, a rethinking of organizational culture, and the need to shift focus from individual to organizational growth, it emphasizes that SMD will provide the catalyst for the organization to anticipate change, expand channels of communication, provide for a more effective allocation of human resources, and promote “people‐involvement”.