Management Development refers to the process of improving the skills, knowledge, and abilities of individuals in managerial roles. This development can occur through various methods, including training programs, workshops, mentoring, and on-the-job experiences. The goal is to enhance leadership capabilities and prepare managers for higher responsibilities. Effective Management Development contributes to better organizational performance by fostering a skilled workforce. It helps managers adapt to changing business environments, make informed decisions, and lead teams effectively. By investing in management development, organizations can ensure a pipeline of capable leaders who can drive success and innovation.