TSTM 444 Chapter 2 Homework

What are the advantages and disadvantages of a centralized training function?
Advantages of centralized training:
1) Training and development programs, resources, and professionals are held all in one centralized location.
2) Centralization helps to ensure that the corporate training policy will be identical throughout the entire company, ensuring alignment with business strategy.
3) Allows development of a common set of metrics to measure quality.
4) Provides a company advantage in purchasing training from vendors and consultants.
5) Helps to better integrate programs for developing leaders and managing talent with training and learning during times of change.
Disadvantage of centralized training:
1) The training managers must be thoroughly familiar with the business strategy; if they are not fully aware of the strategy the training will be ineffective.

What is human capital? How is human capital influencing the changing role of training from skill and knowledge acquisition to creating and sharing knowledge?
Human capital is the sum of attributes, life experiences, knowledge, inventiveness, and enthusiasm that a company’s employees invest in their work.
Human capital influences the changing role of training because the more enthusiastic that an employee is the more they will enjoy their job. If employees enjoy their jobs they will be more likely to be willing to ensure better quality and relationships with their customers.

How could SWOT analysis be used to align training activities with business strategies and goals?
SWOT – Strengths, Weaknesses, Opportunities, Threats.
A SWOT analysis helps to identify the companies weaknesses and strengths, including people, technology, and the company’s financial resources. The analysis will help align training with strategies and goals because if the company realizes their strengths and opportunities they will know what they need to do to maximize the company’s resources.

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