How Training and Development Helps in Competitive Advantage

1594 Words Mar 6th, 2013 7 Pages
TRAINING AND DEVELOPMENT

ASSIGNMENT ON

HOW CAN TRAINING AND DEVELOPMENT HELP IN ACHIEVING COMPETITIVE ADVANTAGE FOR AN ORGANIZATION

SUBMITTED TO: SUBMITTED BY:
Prof. Anurag Shankar Shrishti

Economic liberalization and policies of globalization have created a hyper-competitive environment, innovation and fierce competitiveness have raised issues of survival, effectiveness, sustainability, etc. Increasing demand for skilled performers and increasing high attrition of capable workforce forced the companies to shift focus on attracting and retaining high-performing employees in the extremely competitive business environment. Companies have recognized the need to
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Who else but well-trained employees can contribute to the prosperity of an enterprise?
Accidents, scrap and damage to machinery and equipment can be avoided or minimized through training. Even dissatisfaction, complaints, absenteeism, and turnover can be reduced if employees are trained well.

For a business to be competitive, it is important that it has the right number of people with the right skills in the right jobs. Well-trained employees provide a number of benefits that contribute to a business' competitive advantage. Some of them are discussed below:-
 ensure that all training is being used well and for the best interests of the company
 keep all staff up-to-date in a fast changing business
 make sure that staff is well motivated
 get feedback from staff on changes
 Make sure staff is involved in changes.

An organization requires the utilization of a complex array of resources to grow, survive and achieve the ultimate mission or objectives for its existence. The mobilization and deployment of the resources such as human, financial and material – in the right resource-mix, gives the organization leverage toward the desired end. Of these resources, the human resource is the most potent and central, contributing significantly to corporate bottom line and competitiveness. The organization therefore gains sustained competitive advantage through people, the organization workforce.
Finally, trained employees will
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