Download file to see previous pages...
Layoffs are among the most common and popular measures that have been taken up by firms as a part of their cost cutting activities. Recessionary periods are also characterised by unavailability of credit to firms as governments are forced to reduce liquidity in the market owning to high levels of inflation. Banks are forced to cut down on their lending activities which lead to unavailability of credit. In such situations firms are forced to cut down on production which leads to job cuts. The preset financial crisis saw the downfall of many corporate giants like Lehman Brothers and Bear Sterns and also saw large scale job cuts which left numerous employees jobless. In this aspect it becomes important for firms and employees alike to analyse and formulate effective measures that seek to help employees prepare survival strategies during such crisis periods. It has also been observed that employees who perform below the benchmark standards are first ones to get the pink slips. Hence it becomes essential for employees to have greater efficiencies so as to ensure job security. This aspect assumes significance for organizations as well as human resources are the most important and valuable assets for any organization. Presence of a talented pool of employees is very essential for organizations because it determines the competitive advantage for the firms. Recessionary periods are characterised by large scale competition leading to price wars. In this context it becomes significant for organizations to have a talented pool of employees which would help in generating better product features and greater efficiency in the product and services of the firm which would help organizations to maintain their competitive edge in the tough market situation. Training and development therefore assumes a major importance for both employees and organizations.
The present study focuses on the aspect of training and development in
...Download file to see next pagesRead More
Cite this document
(“Effective Management of Training and Development in an Economic Essay”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1570012-effective-management-of-training-and-development-in-an-economic-downturn
(Effective Management of Training and Development in an Economic Essay)
“Effective Management of Training and Development in an Economic Essay”, n.d. https://studentshare.org/miscellaneous/1570012-effective-management-of-training-and-development-in-an-economic-downturn.
The research recommends for Oz clothing a new set of business objectives which are in close adherence to the policies of industrial relation and considers the impact of the objectives on the stakeholders. An assumption is also held regarding the operation of the organization in the past and how the previous strategies of the organization might have an effect on the policies and practice of Industrial relations.
Knowledge of learning and theory is very significant and can be said as the basing ground for training and development in the workplace. In the present age of globalisation, theories are somewhat ignored by organisations who have opted to introduce their own system.
Some of the key causes are given below. First of all, the interrelated markets of different countries may cause this downturn. That is, America has a strong market in Asia, and if the American production collapses it will also cause cost push inflation in Asia which will then cause problems in other countries related to Asia.
A number of countries have put considerations and priorities into enhancing teaching through vocational skills, knowledge and practical experiences as well as competencies. Through such trainings, there is improved capacity, performance and capability of an individual, organization or a country to realize its goals as it forms a key element on apprenticeships alongside providing itself as a pillar for technical aspects in workforce.
It is extremely essential for any organization to enhance its sustainability and competitiveness in the market among other rival players. So, it is extremely essential for the director of sales and marketing of a hotel. However, in order to make such type of training program effective, it needs to be presented through electronic sources.
It is to be noted in this context that the task of financial management cannot be confined merely to cash management. Rather, the scope of financial management includes all financial resources such as receivables and payables. Management of all financial resources assume great importance as it has rightly been coined as the life blood of business.
There is a common misconception that those who reach up the ladder no longer need personal development; but this is seldom the case. Personal growth opportunities for people at this level are said to be rare. In fact, the idea of using an executive coach was looked upon as a weakness for many years.1 The higher up people got in a company, the more responsibilities they were supposed to handle without any outward sign that they were in distress.
nal “command-and-control” management is gradually decreasing while knowledge-based human resources continue to reinforce their role as the primary asset of modern organisations (Wright & McMahan, 1992).
Over the last two decades, organizations have often been described in
Training leaders for tomorrow is a popular approach within the corporate world due to a number of reasons. Firstly, it is no secret that the generation of the ‘Baby-boomers’, is fast approaching the phase of retirement in the coming decade and their
10 Pages(2500 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Effective Management of Training and Development in an Economic Downturn for FREE!