In this age of globalisation, multiple pressures are intensifying for the under developed and developing countries. It is a struggle for economic survival, where the larger fish will eat up any small fish not clever enough to learn the rules of the game. In this market oriented competitive world, management development has increasingly become linked with economic output. Additionally, education is no more just an intellectual exercise. It is compulsively being recognised as a large sector of human and financial resources, requiring strategic management and a purposeful development of the concerned personnel for quality and effectiveness.