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A Companys Business Strategy Impact - Assignment Example

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The assignment "A Company’s Business Strategy Impact" states that business strategy is “a plan that integrates the company's goals, policies, and actions” (Strategic training 4). The business strategy of an organization has an impact on the training and development plan of a company. …
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A Companys Business Strategy Impact
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The educational system in the U.S. lags behind many Asian countries. Why has the U.S. been able to maintain a competitive advantage as a global leader in science and technology? How can training and development and organizations’ business strategies contribute to maintaining a competitive advantage in science and technology in the future?
The U.S. has been able to maintain its competitive advantage as a global leader in science and technology because of the huge budget awarded by the government to fund basic research and education in all fields of science and engineering including those conducted in American colleges and universities (National Science Board, par 3).
Training and development and organization’s business strategies can contribute to maintaining a competitive advantage in science and technology in the future by allocating a portion of their earnings to funding research and development. The management of organizations should be supportive of “ongoing learning and application of trained skills” (Strategic training 7). Companies must also encourage their employees to pursue further studies in their field or attend seminars and conferences to update themselves on the latest trends in the industry. It would also help if the organization can hire consultants who are experts in their field who can train their employees.
What does research suggest about the effect of tuition reimbursement programs on employee turnover?
Research has shown that tuition reimbursement programs have a positive effect on employee turnover. A study by Pattie, Benson, and Baruch showed that tuition reimbursement reduces the turnover intention of employees (2006). However, they also mentioned that if the degree that the employee is pursuing is not related to his current job position, then the likelihood that the employee will leave the company is high. This finding is in agreement with Becker’s Human Capital Theory (1964). Read More
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