Section Oneresults expected and how they will be measured.^39 Given the
expense of some pro-grams such as executive MBA programs,
it will be important to be able to determine the returns on the
investment. Unfortunately, most cost-effectiveness studies of
development programs have focused only on individuals and
not on organizational impact or have used only subjective
measures of organizational impact.^40
Prevention of Skill Obsolescence
Technological change is often a cause of skill obsolescence in
engineering, science, and the professions. Because of the
rapidity of change, the knowledge half-lives in electrical
engineering and computer science are five years and two and
one-half years, respectively.^41 In addition, other professionals
and managers run a risk of having their skills become obsolete
because of changes in technology and methods. Technological
change appears to affect individuals differently, as some grow
and develop along with new technology while others fall
behind.^42 Because technological obsolescence can limit an
organization’s strategic alternatives, obsolescence in this area
can be devastating and companies should have a strong
incentive to invest in its prevention.