Entrepreneurship and New Venture Development - Essay Example

? Employee Development Table of Contents Introduction 3 To what extent does the organisation adopt a structured training process approach in its learning and development provision 4 The Skill Theory- Implications 7 Recommendations 8 Conclusion 10 Entrepreneurship and New Venture Development 11 Reference 14 Introduction 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. The focus has gradually shifted towards developing its manpower in order to survive and compete in the global competition. 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 development it is said that Quartz had been successful in providing the right of candidates for the organization. In addition to this it was also successful in providing training to the candidates in the right way and techniques. Candidates were successfully developed in the latest technologies and skills such as to compete in the global market and also be competent with the emerging technologies and latest skills that were available. It has generated a number of opportunities for those taking the programs which they were not even aware of. The most impressive and successful feedback of the learning and development program was that it was able to save significant amount of cost for BP Chemicals in the form of training costs, recruitment and selection costs etc. The body used to understand the needs of organizations and subsequently design and develop their programs in order to meet those needs. The information feedback provided was the basis on which BP Chemicals moved towards its goals to develop skills which were competent to compete in the world market and subsequently account for the success of the organization. A per the model the ineffectiveness would primarily arise because of the imbalance between the observations and the actions. This could be because of the tendency of organizations and individuals to emphasize on decisions and actions at the cost of gathering information or from the tendency to get bogged down by the collection and analysis of data. The case of BP Chemicals reflects the use of laboratory method and action research in integrating the two perspectives into an effective and goal directive learning process (Cliffs, 2006, p.5). The training and development program undertaken in BP Chemicals can also be explained in terms of Piaget’s model of learning and cognitive development. According to Piaget, the dimensions of concepts, experience, action and reflection form the basic continua for developing the adult thoughts. The complete development from the stage of infancy towards adulthood goes through a complete view of the world to a constructionist view from being an egocentric view to a reflective and internalised view. According to the Piaget, the main aspect of learning lies in the mutual interaction between the various processes of concept accommodation and the process in which events are assimilated and experienced into the existing schemas and concepts. This aspect is apparent from the fact that Quartz had started as a very local program but gradually became international. It started providing training to the BP explorations staff from nations as far as South Africa and Azerbaijan and had even won a tender to train BP employees in Angola. Moreover, the number of female employees that the body managed to attract was huge and remarkable. This also measures the extent of success of the company. It is seen the Quartz started off as a small body because of the prevailing employee crisis in BP Chemicals. It was only addressing the crisis of skill shortage in the company. However, success in the above aspects was the stepping stone towards addressing human resource issues at higher levels too, like stimulating greater interests in the fields of chemical engineering. It was even seen that the new joiners at Quartz had been successful in progressing through a number of roles and responsibilities and moved from supervisory roles towards management roles. Presently he has been working for a degree in Chemical Engineering which is funded by the company and at the same time working as an advisor of training in Saltend. The Skill Theory- Implications The approach which offers a context based conception of cognition is known as the skill theory. The theory was able to attract educational interest. As per the theory the acquisition of knowledge is defined as the process of construction of specific and context based skills and not the general equilibrium of cross contextual and logical structures (Demetriou & Efklides, 1994, p.15). Skill has been defined as the control structure which governs the specific actions that an individual is able to perform in a particular context. Therefore it is defined mutually through the activities of a person and also the characteristic of the context in which the activity is performed. The evaluation of the training and development programs in BP Chemicals can thus be explained in terms of the kind of skill development using the skill theory. This is because the theory connects the organization as well as the environment instead of looking at them separately. Instead of beginning from the making of particular descriptions of the states of structures and applying them across different contexts, the theory defines the actions of the individual in a particular context and goes on to define the regular process of development of the individual (Demetriou & Efklides, 1994, p.15). The career growth of the apprentices who joined Quartz has been dramatic and visible. Individuals who had been experiencing skill shortage in particular areas were found to grow dramatically and make rapid strides towards progress. Candidates participating in the program was found to gain skills in various roles at a fast pace. As per the case, David Harness was found to make progress through a number of supervisory and managerial roles. He was finally found to be progressing towards acquiring a degree in Chemical Engineering. This reflects the process of transformation of the individual skills and expertise through the implementation of the program as per the skill theory. The external factors which are considered in the development program are the technological changes calling for greater skill and expertise on those technologies. The development of the staff is also apparent from the fact that they have accelerated considerably in their respective careers and succeeded towards catering to the technological and skill requirements in their organizations. The development of Quartz as an organization is also a reflection of the success of apprentices and other candidates who have benefitted greatly from the programs. Not only has the recruitment pool widened through the acceptance of older apprentices but they also result in being more enthusiastic, committed and hard working. Recommendations Firstly it is recommended that BP Chemicals must emphasize on aligning the business objectives o the firm with the human resource management in the organization. The training and development program planned must be catered towards meeting such skill requirements which would be beneficial in the long run both for the employees as well as the organization. It is seen that the organization remains vulnerable to a number of external and technical factors which is why it continues to face skill shortage and obsolescence. That is why it is recommended that it must take into account the external factors before making its long term strategies. The recruitment process must also be designed so as to meet the long run requirements of the firm I the changing external environment. Besides catering to the long term strategies, the training process must also be aimed at developing the career of the candidates participating in the programs. It is important that individual skill shortages are addressed along with the business requirement of the organization. Employees would only deliver their best in the organization if their career prospects in the organization look prospective and beneficial. They must be adequately motivated to performing as per their maximum potential. This implies that the training and development programs must be such as to take account of their individual skill shortages. It must also help them to move higher up their career ladder in the organization. Candidates must be ensured of the fact that skill enhancement would ultimately help them to develop potential to perform a job in a better position and higher designation in the organization. Another area which requires concern is the fact that Quartz started off a small and local organization. However, it eventually emerged as a large organization and trained staff from countries like South Africa and Azerbaijan. This implies that a universal and common organizational culture would not be effective in meeting the global requirements of the firm. It is imperative that the training requirements at different places would be different due to the various skill characteristics and requirements. Thus Quartz must have a definite skill strategy for a particular which would not be sued for any other nation. Careful consideration of the cultural differences would account for a main parameter against which the training strategies could be designed and developed. Conclusion It is seen to due to a number of external factors organizations have to keep changing their strategies. Such was the case with BP Chemicals also. Technological changes required the up gradation of skills in the organization which formed the basis of the most important crisis in the organization. Skill shortage and inadequacy were some of the factors which kept the organization from remaining competitive in the market. This called for the development of Quartz which was responsible for recruiting and training of its apprentices and other positions for BP Chemicals. The case study is explained in terms of the Lewinian model and the Piaget’s model. The Lewinian model explains how the concrete experience of the firm could be realized through actions and research in the form of development and implementation of the training and development programs. The Piaget’s model explains how the main aspects of learning lies in the mutual interaction between the various processes of concept accommodation like training and development. It is seen that the entire program of skill development cannot be done independent of the external environmental factors. The success of Quartz was primarily because of its efficiency and flexibility in meeting the organizational requirements. However, it seems that Quartz had only been catering to the business needs of BP Chemicals. However, a comprehensive HR program would involve providing the best alternatives for the career development of candidates and giving them the guideline and direction for progress in the organization. Also the fact Quartz was delivering services to BP Chemicals located in different locations required that it considered the cultural factors and differences existing between the locations. Training and learning services tailored for meeting the cultural dimensions in the locations would form the basis of a successful training program. Entrepreneurship and New Venture Development The Kolb’s model can be applied for explaining my development of the entrepreneurial capability and potential. This is one of the commonly used models of earning which can be used for demonstrating my entrepreneurship skill development and potential. The theory reflects the different learning styles which I could implement and which benefited me substantially. As per the divergers learning style, I have been able to gather experience which helps to define my characteristics. It has been especially helpful in developing my creating skills. I am able to think creatively and come up with innovative ideas which complement my capabilities of becoming an entrepreneur. Also I have been able to generate dynamism in my activities and works. I am able to perform them in different styles and procedures which are different from the conventional procedures. This also helps to reduce boredom and obsolescence. Also my activities have become more purposeful and I ensure that my efforts can be put to effective use and are not wasted in whatever I do. I ensure that they can yield effective results and output. These accounts for an important quality of an entrepreneur as his success lie in his ability to create cost effective and result generating alternatives and make the best use of resources. Today I am also able to take more risks which I used to stay away from initially. I was a risk averter and used to stay away from activities which involved risks. However, today I have learnt to take more bold decisions which might involve high risks. However, the rates of failure in my decisions have dropped considerably and most often my decisions come out to be fair and yields effective results. I have learnt to stick to my objective which drives all my activities towards meeting that objective. During the course I have been able to develop certain leadership qualities and lead a team successfully. Today I can lead a team of 10 individuals successfully. My skill of coordinating different activities and actions of individuals has gone up considerably and I have inherited the quality of driving up their performance as well. It is important that I look at the small issues instead of looking at the big picture. In try to cater to every small detail as I realize the fact the small mistakes when accumulated result in a big cost. If the small errors can be removed them a substantial of price can be gained in terms of revenues and goodwill. An entrepreneur must also realize that in order to attain long term objectives the short term goals must also be attained. Thus my focus is to emphasize on the short term plans and then look at the long term picture. As per the assimilator style in Kolb’s model, I have been able to think and act rationally. I can comprehend situations carefully and make decisions wisely and carefully. In other words I have been able to understand complex situations and generate simple solutions. Whatever I have learnt during my course can be applied in practice easily and successfully. One of the principle characteristics of an entrepreneur is to make logical decisions and find the best possible way to a solution. While the conducting the course and applying the learning styles I have been able to adopt the entrepreneurial styles and techniques which would enable me to take managerial decisions and business strategies in the long run. Not only have I been able to inculcate the qualities but I have also leant to apply them in practice and reality. I have tried to excel in whichever activity I have undertaken which has helped me to develop the skill and expertise in that specific field. It has helped to gain technical skills besides my soft skills. In general I have been able to gain such expertise which would bear fruit when I am to take complicated and difficult business decisions in the long run. In other words my skills as an entrepreneur have gained a stimulus and I have been able to gain such qualities and characteristics which would eventually yield results when I have to take managerial and entrepreneurial decisions in the long run. The above is the reflection of my individual learning during the module. Reference Cliffs, E. (2006). Experiential learning: experience as the source of learning and development. [Pdf]. Available at: http://academic.regis.edu/ed205/Kolb.pdf. [Accessed on August 13, 2011]. Demetriou, A. & Efklides, A. (1994). Neo-Piagetian theories of cognitive development: implications and applications for education. Routledge. Thorpe, M. & Edwards, R. (2003). Culture and processes of adult learning: a reader. Routledge. Read More