- IMD Business School
General Management

6 genuine benefits of enrolling in a management training course

What is a management training course?

Lifelong learning and leadership skills development are critical to a long and successful career, regardless of experience level. Throughout your career, you will be exposed to a variety of challenging scenarios, which will require you to work more efficiently, deepen your knowledge and lead others.

Generally, as we progress in our careers and are exposed to more scenarios we naturally develop our skills, however it is not always easy to develop all of the skills you need to lead effectively. Managing, or leading people is a difficult skill to master, particularly as in many cases newly appointed or aspiring managers have simply not had the opportunity to assume managerial responsibilities.

If you never have the opportunity to manage, how will you know how effective you are, or can be?

Management training courses are designed to help you develop a more robust skillset as a leader, whilst also encouraging you to network with other professionals. This networking will help you become exposed to the challenges that others face, across other industries, cultures or companies.

6 key benefits of enrolling in a management training course

  1. Refresh your business fundamentals
  2. Enhance your leadership toolbox
  3. Develop your change management skills
  4. Address your key business challenges
  5. Build your decision making competencies
  6. Get access to a strong network

The essence of management skills training

The world is changing faster than ever before. The challenges that you will face in the future are simply not the same as today’s challenges. The next generation of leaders will face an ever-increasingly more complex range of business, and leadership challenges. As a result, they must develop their ability to lead effectively and responsibly.

Even the best knowledge of today’s business tactics will not suffice for these kind of challenges. You need both hands-on experience in management, and a continued approach to training that builds on your experience.

Management skills training should never be considered to be a one-off. Leaders should never stop learning. We suggest you think of your management training as one step on a long-term journey of personal and professional development.

With the right management skills training, you should be challenged to challenge your “status quo” and develop your own skillset to become a more competent, confident leader. This will help you be ready to face tomorrow’s uncertainty with confidence as you move into positions of higher responsibility.

When considering training options, look for management training courses that:

  • Allow you to work interactively with your class
  • Discuss real-life cases in depth
  • Test, challenge and hone your leadership with leadership exercises and leadership coaching
  • Bring your learning home with projects related to real-life challenges

1. Refresh your business fundamentals

Business fundamentals are the basic skills and concepts needed to run an organization. These are the fundamental skills that most managers have developed throughout their career. These skills are critical, as a leader you must fully comprehend how a business operates, how different functions work and how the decisions you make impact your organization.

As a manager, building and refreshing your comprehension of business fundamentals is key to ensuring your longer-term success. The more understanding you have of how your business functions the more impact you will be able to have on your organization.

Management training courses typically always contain business fundamentals training, this would typically focus on:

  • Finance & Accounting
  • Analytics & Reporting
  • Economics & Market Conditions
  • Business Leadership
  • Strategy & Execution
  • Negotiation Skills
  • Global Business

This may seem like something you already know, you are possibly already leading within your organization, however as time passes the way business functions operate changes. Therefore continuing to develop your understanding of business functions will set you up for success, this is also particularly helpful to get exposure to business fundamentals in other industries.

Build your fundamentals with our Foundations for Business Leadership program »

2. Enhance your leadership toolbox 🧰

Anyone can be placed in a leadership role, but to be successful and thrive in that position requires strong leadership skills

Advancing to the top of one’s field makes it possible for many people to keep plugging away at their jobs, honing their skills, and taking on new projects. But after a certain point, career development depends on more than technical skills and a willingness to work hard. You also need soft skills, not the least of which is the ability to take on a leadership role.

Developing leadership skills is one of the most powerful moves you can make. Leadership skills aren’t just for your career – they can also improve your personal relationships. That’s because as you learn how to improve leadership skills, you’ll learn about communication and building connections with others. This will help you navigate the challenges of the modern workplace.

As a good leader, you will build strong relationships. When you know how to motivate and inspire others, they will be more likely to trust and respect you. This can lead to more productive and effective teamwork.

When exploring management training courses, a strong element of leadership is a key item to look for.

Explore leadership programs for executives »

3. Develop your change management skills

No organization can afford to stand still. There are always new challenges to meet, and better ways of doing things. However, every change you need to make should be planned and implemented with care, otherwise it could end up doing more harm than good!

When it comes to change management, many organizations struggle. They may have a change management process in place, but it’s not followed correctly, or employees are not prepared for changes. As a result, the organization suffers. In order to ensure that changes are implemented smoothly and without issue, change management is critical.

A central idea of all change management theories is that no change ever happens in isolation. In one way or another, change impacts the whole organization and all of the people in it. But with good change management, you can encourage everyone to adapt to and embrace your new way of working.

When it comes to change management, many people may be unsure of what it is exactly. Change management is the process of planning, implementing and monitoring changes in an organization. It’s important because it helps ensure that changes are implemented smoothly and without issue. Employees need to be prepared for changes, and the change management process should be followed in order to ensure that everyone is on the same page. Changes can be difficult for employees, so it’s important to have a plan in place to help them through the transition.

There are many benefits to change management. Some of these benefits include improved communication, increased productivity, reduced stress and improved decision making. change management can also help improve employee morale and create a more positive work environment.

Join a change management program »

4. Address your key business challenges

At the forefront of any management training course should be your own business challenges. Inevitably as you advance through your career you will face difficult challenges. If you are considering training, this should always be with the view to address your immediate business challenges.

We live in rapidly changing times, especially for businesses. Consider that, in a single generation, businesses have had to adapt to entirely new marketing channels (web and social), decide how to invest in and utilize new technologies, and compete on a global stage — things that were barely imaginable to our parents’ and grandparents’ generations.

One side effect of these rapid changes and growth is that no single leader — or any employee, for that matter — can be an expert in everything. This was, perhaps, always true, but it has never been more apparent.

Building skills and competencies through effective management training will help you prepare for and deliver against your key business challenges.

Typically, challenges some of the biggest challenges executives face include:

  • Uncertainty for the future
  • Performance management/optimization
  • Financial and revenue targets
  • Competencies and team capabilities
  • Regulation and compliance
  • Technology and digital transformation
  • Data and analysis

5. Build your decision-making competencies

“Whenever you see a successful business, someone once made a courageous decision” – Peter F. Drucker

Decision-making skills are the soft skills that you can use to help solve problems within your organization. Whether you need to choose what font is best for a brand logo or what growth marketing tactic to use, making good decisions is crucial.

As a leader you are tasked with making decisions each and every day, the consequences of which are far-reaching. Being able to make reasoned, SMART decisions (Specific Measurable Attainable Realistic and Timed) is a critical element of management, and most management training courses will focus heavily on decision-making, particularly in a high pressure situation.

A leader with good decision-making skills at work is able to assess all the facts, understand the company’s current state and goal state, and choose the best course of action.

Typically, decision-making skills improve throughout your working life, as you’re required to make more decisions. But you don’t need to rely on your professional environment as the only area to practice, or improve these skills. You can even improve your decision-making with exercises like what you’re making for dinner – the critical emphasis on how you slow down, take stock of the situation, consider the facts, ask for help (if needed), and reflect on your decision.

Improve your decision-making skills with our strategy programs »

6. Get access to a strong network

We’ve all heard the saying “iron sharpens iron” – this is particularly relatable to a management training course. Typically, training at a managerial-level is almost exclusively delivered as part of a larger group. This allows not only the training provider to engage you, but for you to engage with a wider network of others in similar situations and exchange ideas.

Management training courses provide great opportunities to connect with executives from other companies, countries, cultures and industries and gain new insights and knowledge of their unique challenges.

Networks, or networking opportunities are one of the most critical triggers for executives to choose IMD Business School for their education. With an existing alumni network of over 100,000 global executives the opportunities to expand your own network and learn from others is a critical element of programs.

In addition to learning new skills, the networking opportunities presented in management training courses can lead to strategic partnerships, mergers and acquisitions or even present new job opportunities.