Strategic Training and Development Extended

Summary

This video discusses the importance of aligning business strategies with employee training and development. It outlines four key business strategies—concentration, internal growth, external growth, and divestment—and explores their unique training implications. The role of corporate universities in creating customized, strategic learning environments is emphasized, along with the benefits of e-learning functions in delivering customer-focused training. Additionally, the video highlights the growing trend of outsourcing training to save costs and improve efficiency, while also addressing the challenges companies face in maintaining control over training quality and meeting specific needs.

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Q & A

What is the primary focus of a concentration strategy in business?

A concentration strategy focuses on increasing market share, reducing costs, or maintaining a market niche for products and services.

How does an internal growth strategy differ from an external growth strategy?

An internal growth strategy focuses on new market and product development, innovation, and joint ventures, while an external growth strategy emphasizes acquiring vendors or businesses to expand into new markets.

What are the key training implications for a concentration strategy?

The training implications for a concentration strategy include team-building, cross-training, specialized programs, interpersonal skills training, and on-the-job training.

What role do corporate universities play in an organization?

Corporate universities help align learning efforts with business needs, ensure strong organizational culture and values, control training costs, and optimize learning outcomes by providing consistent training and developing partnerships with external stakeholders.

What are the top five organizational goals of corporate universities?

The top five organizational goals of corporate universities are improving customer service and retention, improving productivity, reducing costs, retaining talented employees, and increasing revenue.

What is the primary advantage of e-learning in a business context?

E-learning offers strategic direction, customization to meet specific needs, and continuous improvement. It enables training to be tailored to customer requirements and evaluated for effectiveness.

Why is internal marketing important for training programs within an organization?

Internal marketing is essential for overcoming resistance to change, especially regarding new training programs. It helps demonstrate the value of training, engages employees in the development process, and ensures successful adoption of the programs.

What are the challenges of outsourcing training for a company?

Challenges of outsourcing training include the inability of external providers to meet specific company needs and the desire to maintain control over all aspects of training, particularly content delivery.

How does a divestment strategy impact training in an organization?

A divestment strategy, which focuses on liquidation and divestiture, requires training programs related to motivation, goal-setting, time management, stress management, leadership training, outplacement assistance, and job search skills.

What are the main reasons companies choose to outsource training?

Companies may outsource training to achieve cost and time savings, improve compliance and accuracy, meet federal or state regulations, and access best training practices that they may not be able to provide internally.