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Entrepreneurship and New Venture Development - Essay Example

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With the advancement in technology, globalization and changes in the external environment firms have been increasingly facing the problem of developing its people to adapt to the new changes…
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Entrepreneurship and New Venture Development
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"Entrepreneurship and New Venture Development"

Download file to see previous pages Such has been the case with all local as well as global organizations. Organizations have been increasingly making huge investments in managing their human resource in the form of recruitment, selection, training and retaining talents from across the world. In other words their human resource strategies are more and more aligned with the long term and strategic objectives of the firms. The project brings forth the case of BP Chemicals which has been confronting with difficulty in meeting its staff requirements. The organization faced a human resource crisis when it struggled to find the processing and engineering staff having the requisite skills and qualification for keeping pace with the technological advances and changes. It increasingly faced difficulty in finding the right technical expertise and skills; however, finding the manual and graduates was not a problem. In order to resolve the crisis the company established Quartz, an autonomous body responsible for recruitment and training of candidates as required in BP Chemicals. The project tries to explore and evaluate the learning and development programs adopted by BP Chemicals in terms of the long term objectives of the firm and also the satisfaction of its employees. To what extent does the organisation adopt a structured training process approach in its learning and development provision The training and development process conducted in BP Chemicals would be discussed in the context of the Lewinian Experiential Learning Model. There are two main aspects on this model which need to be emphasized. First is the model’s emphasis on the here and now concrete experience for validating and testing the abstract concepts. The immediate experience is considered as the main aim for giving life, texture, learning and personal meaning to the abstract concepts. It also provides a publicly shared ad referenced point for the testing of validity and implications of the ideas which are generated during the process of learning (Cliffs, 2006, p.4). The following figure would depict the ideas in the model. Figure 1: Lewinian Experiential Learning Model (Source: Thorpe & Edwards, 1993, p.139) Secondly the laboratory training and action research are primarily based on the process of feedback. The information feedback is considered to be the basis on which continuous process of goal oriented actions and their evaluations are generated. In the case of BP Chemicals, it is seen that the concrete experience is felt when the organization failed to avail of the human resource with the needed skills and expertise to keep in pace with the technological advances and changes. The firm realised that as technology continued to change, it would have to recruit people having knowledge of the new technologies and skills or would have to provide training to the existing people in the new technologies. It was felt that the above two aspects were completely necessary for the firm to survive and compete in the market. The second stage in the model which is the actions research and the laboratory training are said to be based on the process of feedback. As per the case study it is seen that BP Chemicals established a body called Quartz which had the responsibility of recruiting personnel for the organization and also providing the requisite training and learning for them. As per the feedback on the implementation of the new training and deve ...Download file to see next pagesRead More
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I didn’t know how to start my research paper. "Entrepreneurship and New Venture Development" helped me out a lot! Especially the list of content was valuable.
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