Module 2 – Strategic Training

• What is the first component of developing a business strategy?

  Mission, Vision and Values
• What does the mission statement represent?

  Company's reason for existing
• What is the vision of a company?

  Picture of the future the company wants
• What do values represent in a business context?

  Moral principles guiding employee behavior
• What are goals in the context of business strategy?

  Medium to long-term achievements of the company
• What does external analysis involve?

  Examining the operating environment for opportunities
• What is the purpose of internal analysis?

  Identify the company’s strengths and weaknesses
• What does strategic choice represent?

  Best alternative strategy to achieve goals
• What are the possible business goals influenced by training?

  • Increased productivity
  • Reduced scrap and rework
  • Enhanced customer satisfaction
  • Lower operational risks
  • Improved employee satisfaction and retention
  • Increased billable project time
  • Better management decisions
  • Development of human capital
  • Succession planning for competitive advantage
• What decisions must a company make to compete effectively?

  • Where to compete? (markets, industries)
  • How to compete? (cost, quality, reliability)
  • With what will we compete? (resources and capabilities)
• What are strategic training and development initiatives that support business strategy?

  • Diversify learning portfolio
  • Expand who is trained
  • Accelerate employee learning
  • Improve customer service
  • Provide development opportunities
  • Capture and share knowledge
  • Align training with company direction
  • Support learning environment
• What does diversifying the learning portfolio involve?

  Using technology for training and informal learning
• Why is it important to expand who is trained?

  To include customers, suppliers, and employees
• What is the goal of accelerating the pace of employee learning?

  Quickly identify needs and provide solutions
• How can customer service be improved through training?

  By ensuring employees have product knowledge
• What should development opportunities for employees include?

  Clear understanding of career and growth opportunities
• What is the purpose of capturing and sharing knowledge?

  To organize and store information logically
• How should training and development align with company direction?

  Identify needed skills and support strategic needs
• What does ensuring a supportive work environment for learning involve?

  Removing constraints like lack of time and resources
• What activities are linked to strategic training and development?

  Use of new technology and increasing access
• What is the first step in determining training success?

  Identifying and collecting metrics
• What should business-level outcomes be linked to?

  Directly linked to business strategy and goals
• What is a balanced scorecard?

  Performance measurement from multiple perspectives
• What are the four perspectives of a balanced scorecard?

  • Customer perspective
  • Internal processes perspective
  • Innovation and learning perspective
  • Financial perspective
• What organizational characteristics influence training?

  Roles of employees and managers
• What is a business growth strategy's training need?

  Leadership development for management skills
• What training is needed for innovation and product development strategy?

  Technology training for latest tools
• What training is essential for a customer-centric strategy?

  Customer experience training for satisfaction
• What training is required for a digital transformation strategy?

  Digital tools education for employees
• What training is needed for cost reduction and efficiency strategy?

  Process optimization training on lean management
• What training is essential for compliance and risk management strategy?

  Regulatory compliance training for legal standards
• What training is needed for talent development and retention strategy?

  Skill development programs for future roles
• What does the 70:20:10 learning model emphasize?

  On-the-job learning, social learning, formal learning
• What does a blended learning approach include?

  Online, classroom, and self-paced learning
• What does outsourcing training involve?

  Using an outside company for training activities
• What are reasons companies outsource training?

  Cost savings and lack of internal capability
• What is a benefit of outsourcing training?

  Improvements in compliance and accuracy