Exam 1 Flashcards
Training
Facilitates learning job-related competencies, knowledge, skills, or behavior
Development
Future focused, include education, job experiences, relationships and assessments
Learning needs to demonstrate:
How it contributes to the company’s competitive advantage through
- improving employee performance
- supporting the business strategy
- contributing positively to business outcomes such as quality, productivity, development of new products, retaining key employees
Human capital and why is it valuable compared to financial capital
Knowledge, advanced skills, system understanding and creativity, and motivation to deliver high-quality products and services
Valuable since it is difficult to imitate or purchase and is unique to the company
Formal training and development
Training and development programs, courses, and events that are developed and organized by the company
- Employees attend these programs such as face-to-face or online training
- Companies invest billions into formal training
Informal learning
Learning that is learner initiated and involves action and doing
- Motivated by an intent to develop
- Occurs without a trainer
- Occurs on a as-needed basis
- Ex: social networking, interactions with peers, emails
Knowledge management and its primary focus?
Consist of the tools, processes, systems, structures, and cultures to improve the creation sharing, and use of knowledge
-Contributes to informal learning
Explicit knowledge
Knowledge that is well documented, easily articulated, and easily transferred from person to person
Ex: flowcharts, formulas
Primary focus of formal training and employee development
Tacit knowledge
Personal knowledge based on individual experiences
-Facilitated by Informal learning
How is tacit knowledge applied to informal learning?
Informal learning is central to the development of tacit knowledge since it involves employee interactions in personal relationships with peers, colleagues, and experts through which it is shared
How is knowledge management applied to informal learning?
Ex: G4S developing an Internet and social networking system which provides company material, announcements, manuals, tools and can be accessed from anywhere across the office.
Advantages of a centralized training function
- Drives strong alignment with business strategy
- Set of metrics or scorecards to measure and report rates of quality
- Helps streamline processes
- Gives company cost advantage in purchasing training from vendors
- Helps companies better integrate programs
What is a balanced scorecard? What are its four perspectives? What are examples of metrics?
A balanced scorecard is a performance measurement that allows managers to look at the overall company performance or from performance of departments or functions from the perspective of internal and external customers, employees, and shareholders
Four perspectives and examples of metrics used are:
CT-Customers (time)
I-PICS-Internal (process that influences customer satisfaction)
ILES-Innovation and learning (employee satisfaction)
FG-Financial (growth)
What is the ADDIE model
Analysis: 5 W’s “Who needs to learn this, what needs to be learned”…
Design: Best way to deliver this info?
Development: What tools do I have?
Implementation: How can I efficiently get this to the learners?
Evaluation: What went well?
Most closely associated with formal training and development
Outsourcing
Use of an outside company (external services firm) that takes complete, overall, or most of responsibility and control of some training and development activities