The Value and Importance of Training Research Paper

The Value and Importance of Training - Research Paper Example In the year 1980, the company had abandoned a joint service with British Airways, in which BW was supposed to fly a concord to Ireland and Shannon with packages of FedEx onboard, subsequent to which FedEx would fly the packages to the different points of delivery in Europe. FedEx Corp later on acquired Kinko's Inc. to expand its retail access to the public in general. Being a technologically driven organization, its competitive strength lies in the technical aspect, as well as skills and expertise that it nurtures. The project seeks to bring forth the different training approaches that can be implemented in the organization for sustaining its competitive strengths and position in the market. Along with this, it provides a description of the best ways of applying the training strategies in the organization (FedEx Corp, 2012, p.7-8). ... Some of the critical trends noted in the recent training programs in organizations are the adoption of a performance consulting strategy; constant monitoring and evaluation of results to monitor performance; and a just-in-time approach in training. The current trend in such activities is identified as being in alignment and associated with the long-term strategic objectives of the organizations. They are focused on the strategic and competitive strengths of the organization and are aimed at accomplishing long-term goals and objectives (Laird, Naquin, & Holton, 2003, p.77). The present training and developmental programs in FedEx must first address the gap or discrepancy between the firm’s current level of performance and that which is desired. This includes making analysis of the basic level of performance of employees according to their detailed job description and key result areas (KRAs). Since FedEx is largely a technologically driven organization, it must update itself on the current trends in technology and services. Training must necessarily concentrate on the technical competencies and skills of employees and delivered as per their performance levels. This also includes taking into account the forecasted technical skill requirements in the organization. Another current trend in training programs noted in organizations is that they are largely concentrated on the behavioral aspects in addition to skills building. This is also geared towards adding value to the competitiveness of the organization at large. Behavioral modifications are desired in FedEx to bring about greater tenacity and motivation level at the workplace, stress and time management, team building,

Entry into Foreign Market Essay Example | Topics and Well Written Essays - 1500 words

Entry into Foreign Market - Essay Example This desire for expansion outside initial business setups seeks to enhance production and supply of goods to more potential consumers. Increase in consumer population translates into a corresponding increase in revenue generation. This means that international corporations wanted to increase their customer base; hence established business facilities within international markets. Tielmann (2010) says that despite the fact that most business environments are present within a free market settings, other factors still play a significant role in starting and developing production and sales activities within such settings. Therefore, business organizations wishing to expand into new markets should adopt appropriate strategies in order to achieve marketing success. From a practical perspective, entry into a new market needs systematic approaches depending on the internal and external factors surrounding the company. Typical internal factors include a company’s efficiency in managemen t, availability of resources for expansion and the culture of its business operations. On the other hand, external factors include those elements lying outside the control of company’s management. According to Erkan (2011), these include social, political and economic factors prevailing within the new market. The nature of internal and external factors acknowledged above could either smoothen or toughen a company’s entry into a new market. In the context of marketing terminologies, effects on the environment could narrow down to aspects of risk, cost and magnitude of control that an organization experiences upon entering a market segment. In the process of determining as to whether entry into a new market will be successful, company managers select appropriate strategies that will produce the best desired outcomes. Upon thorough analysis, some organizations may decide to use indirect market entry, which involves export of manufactured products into the new markets usin g existing supply channels. On the other hand, a product manufacture may use direct entry method by a partnership with agents already present within a new market environment. In this regard, the operational thesis statement postulates that Myanmar oil industry is a potential market for Cameron’s production equipment. Institutional Strengths and Risks Having appreciated the theoretical framework of new market entry, we will conduct a real life analysis on Cameron International Corporation. This organization has successfully entered other new market in the past. Erkan (2011) says that currently, Cameron International Corporation is undertaking its business operations in approximately 100 countries around the globe. Its expansion strategies have yielded fruits; hence there is a growing desire to venture into other virgin territories. This time, Cameron International Corporation has identified Myanmar, a reforming South Asian nation formerly known as Burma, as its target market. In the year 2010, the company posted a profit of approximately $ 500 million. This profit resulted mainly from its operation within the US market. Cameron Corporation deals with production and supply of equipment used in oil and gas productions around the globe. In this case, the organization decided to venture into the South Asian nation in subject since Myanmar has prospectus profile in terms of oil and gas resources. In the past, the nation had a dented history of human