This study examines the nature of Advanced Management Program which is popular among executives and top managers in private and public sector in Korean firms. Advanced Management Programs in many business school share much commonality that is caused by institutional pressure. The program not only trains and develops executives but also provides social network for top managers. Curriculums of most colleges also emphasize the development of social ties among students. This study compares several Advanced Management Programs in top schools and identifies problems and future implications. The study also introduce the case of Chung-Ang university which runs successful Advanced Management Program.