The business’s nature has shifted from a concentration on scare financial capital to a concentration upon scare human capital as cited by Bartlett and Ghoshal (2002). There is no doubt that financial capital is most important tools for an organization to grow and expand but capital by itself does not create wealth. The strategic capital of the current society is the human resource.
Knowledge has become the key factor of every modern organization. A knowledge employee is able to create an idea without capital, knowledge is brain power. As cited by Drucker (1993) the most important, and indeed the truly unique, contribution of the 20th century was the fifty-fold increase in ...view middle of the document...
HRD must, therefore, be part of a wider strategy for the business, aligned with the organization’s corporate mission and goals.
Strategic management is a process for analyzing a company’s competitive situation, developing the company’s strategic goals and devises a plan of action and allocation or resources that will increase the chances of achieving the organization’s goals. Human Resource managers should be trained to identify the competitive issues the organization is facing with regard to human resource and think strategically about how to respond. With a good planning, organization will have clear vision and goals that they need to strive for.
Training refers to a planned effort by an organization to facilitate employees’ learning of job-related competencies. This competency provides employees’ with the necessary skills and knowledge to perform well in their jobs. It also prepares the employees’ to handle higher level jobs or more responsible ones. In order to achieve an organization business strategy strategic planning need to be in place. It involves identifying training and development initiatives. These sets of training enhance the effectiveness and efficiency of the employees when doing their day to day operation. In short there are no world-class companies with weak HR departments. Excellence requires great human resources.
As cited by Wentland (2006), organization’s survival depends on employee training – to...