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How can we find the time to develop our managers?

10 or 15 years ago it was not uncommen for managers in larger Organisations to spend, (or to invest) large chunks of time in their learning and development. One or even 2 week long management development programmes were the norm.
Companies such as IBM, B.P., Fords, would have a minimum target number of days per annum say 10 that every "people manager" should invest in their development. Sales people in IBM would be expected to attend, study and to graduate successfully from the IBM Sales School which takes them about 6 months to complete the syllabus, before they are set loose to work with customers.
These earlier expectations have now evolved into CPD (Continuing Professional Development) standards which are required for the members of various Professional Bodies and is translated into a certain number of hours/days training and development time to be invested annually by each member.
In todays environment however these expectations have changed. Managers and professionals time made available for learning and development is much reduced. The pressures on us to settle into a role quickly and to deliver results is much higher. Equally we do know that not to invest in people's learning and development is also a mistake. So what are the modern day solutions to this dilemma?
1. Learning is more flexible and self-directed than it used to be.
2. There are many more self-study materials available - especially through the internet.
3. Employees take more responsibility for their own learning and development.
4. Learning and developemnt is more personalised to meet the needs of each individual rather than the "sheep dip" approach of teaching every manager the same routines regardless of their role, experience, skills and maturity.
5. There has also been a rise in the popularity of 1 to 1 learning techniques such as coaching and mentoring, which have the benefits of addressing the subjects own personal agenda, is usually central to the work and which takes place at a time and place to suit the learner.
In conclusion learning and development has moved on from the old highly structured approach of large chunks of time beieng invested in a mandatory syllabus to the delivery of more varied and flexible learning to suit the individuals needs.