What the Industry Offers
The industry provides short courses, workshops, and seminars that help in the professional development of management. Training is provided through the customized training material. The organization provides vast training facilities – online and offline, mostly integrating educational institutions. The organization further offers private sector employers, Business Certification exams for their employees. The exam oversees providing management developing training, professional development training, quality assurance training, and lastly non-examinable business-coaching services. The organization has successfully targeted 1.2 million businesses, which translates to 1.5 BN in revenue, while the current growth is 1.2% while the businesses further provide 4.6% (Ibisworld.com, 2019).
Strengths, Challenges, and Competitors
Training has a relatively bright future given new concepts and technologies are introduced in the work cycle, while most employees do not go back to school. Besides, training comes to reinforce what was taught academically, as the major objective of academics is passing exams, while the real experience is achieved at the work environment. Furthermore, one has to consider that in the emerging business world, few courses provide the exact working requirements.
However, the future industry might face financing challenges as more organizations load their HRM policy with the mandate of training. The organization will also face challenges from when clients request for factual output. Lastly, HRM training is not a heavily specialized intervention, as the industry is bound to attract new and even better, but cheaper competitors.
Provision for My Business
Business coaching industry provides for my business the exact resource I require. Most people employed in the organization are often in the business venture primarily for monetary gains. Although a significant number deliver as per the objectives, the larger percentages are not fully effective, since they are challenged in understanding the required tasks or business objectives. Training will improve my employees allowing them to refocus on the trend.
From the training experience, two services are best utilized for the organization. One is morality as a subject. Training about morals is useful, as it helps individuals to evaluate general productivity (Mulang, 2015). Secondly, training about computers is useful since it guides non-knowledgeable individuals on how to improve work by using computer resources.
Ibisworld.com. (2019). IBISWorld – Industry Market Research, Reports, and Statistics. Retrieved from https://www.ibisworld.com/industry-trends/market-research-reports/educational-services/business-certification-it-schools.htmlMulang, A. (2015). The Importance of Training for Human Resource Development in Organization. Journal Of Public Administration And Governance, 5(1), 190. doi: 10.5296/jpag.v5i1.7505
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