Significance of Business Training - Essay Example

Successful companies heed their active concern in training their workforce because they know that Human Resource (HR) is the most valuable asset of a company. In order to align their HR, many of them have a modern technological backup. For instance, companies implement their own Human Resource Information System (HRIS) that integrates HR information.Moreover, a modern business operator should have the minimum knowledge of motivational theories and reward systems. Employee retention is equally important as customer retention.

In the same way, the entrepreneur must know the major trends in the firm’s natural environment because there are numerous regulations a company has to comply with. Frequent marketing research is important to identify the competitors, customer needs, business challenges, etc. Research findings will help management to design and implement appropriate strategies to meet the goal. (Varey R. J., 2002, pp.287-288).To sum up, the recent developments in technology have intensified business competition more than ever before.

Companies are looking for potential candidates in order to enhance their labor force. Therefore, only a well-trained individual can offer his/her genuine effort in any of the functions of a modern business organization.