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University‐based executive education programmes have played a major role in the development of upper‐level managers since the beginning of the Second World War. A summary review of research into their effectiveness is presented, and a challenge issued for further investigation as to their worthiness.

The nature of the relationship where university business schools have actively sought partnerships with companies by initiating “contract” programmes customised to meet the specific learning needs of the client company is discussed. Two case examples of actual programmes are described: an open but selective enrolment general management programme and the Consolidated Rail Corporation′s two‐week management programme for employees of that company, both offered at Pennsylvania State University. The unique benefits of each programme are noted and it is argued that these should help to foster greater collaboration between universities and corporations in the future.

Five distinguishing characteristics of non profit organizations are identified and explored. They are: a different and more complex environment, more altruistic purposes with strong traditions, importance of motivating and rewarding volunteers, staff structures that exist in parallel with volunteer structures, and frequent short‐run/annual budget orientations as opposed to effective strategic planning. The authors reject the notion that non profit management should be different from that in the private, for‐profit sector, but emphasize that these five characteristics must be recognized and addressed before attempting to directly apply business experience to nonprofit environments.

Considers the characteristics, attitudes, perspectives and skills to ensure top management effectiveness. Details global strategies, use of technology and political skills. Looks to the future and the creation of integrated programmes to guide managers into the twenty‐first century.

If this is the “Age of the Learning Organization,” surely creating leaders who can build learning‐oriented competitive advantage should be a big business. Nohria and Berkley of the Harvard Business School have estimated that corporate expenditures for training have grown from $10 billion to $45 billion during the past decade. Business Week estimates that approximately $12 billion of this amount was devoted to executive education. The growth in expenditures for executive programs is a result of the increasing recognition that education and leadership development are powerful levers in communicating and implementing key strategic initiatives.

Executive education can be a powerful catalyst for both personal and organisational development. How corporations are utilising this potential was the subject of an international study of executive education trends among the Fortune 300, Fortune Service 100, and Fortune International 100 firms. The results of the study reflect expanding corporate support for executive education, both on an in‐company basis and through university‐based programmes. The results also suggest some interesting comparisons among the executive education practices of the three survey population subgroupings.

Suggests that the need to cope with rapid change and global competition has revolutionized the practice of management within most major corporations. Reports on a ten‐year study of global trends in the field, which shows how practices in executive development have evolved to keep pace with this revolutionary change. The results of the study suggest a changing and increasingly important role for executive development in building and revitalizing corporate competitiveness.

The growing emphasis on learning as a force for building organisational competitiveness is causing a major shift in how companies cultivate and develop executive talent. This shift is so pronounced as to be called a paradigm change, the elements of which are described. The emerging “new paradigm” for executive development holds great promise as a tool for crafting both individual and organisational effectiveness.

Based on an ongoing series of research initiatives, this article profiles eight major trends in executive education and leadership development: the emergence of an increasingly competitive marketplace for providers of executive education and leadership development; a growing focus on customized programs; a trend toward shorter, large‐scale, cascaded programs involving staff throughout the organization; a continued trend toward increased use of action learning; a perception that technology and distance delivery will play a more critical role in the future; a significant shift toward experience‐based methodologies like job rotation, task force assignments, action learning and coaching/mentoring; an increased level of importance attached to performance feedback in the development process; and a shift in perspectives toward leadership competencies for the future, with flexibility and adaptability heading the list of critical developmental needs.

There is a growing awareness among major corporations that executive and organizational development activities have a very important role to play in the creation of learning‐based competitive capabilities. Presents a perspective on this emerging role based on the authors′ research and years of experience in the field of executive development. Outlines a new and critical role for executive development in the strategic management process, develops a first stage model for integrating executive development into an organization′s strategic planning system, and presents a case study example of a firm engaged in a systems approach to executive development.