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The Importance Of Continuous Training & Development

The world is changing rapidly and we see the emergence of opportunities, as well as threats. So, the way we respond to the scenario would determine the key for the survival of an organisation.

If we don’t keep up with the current trend, we will be left in the dust.

Author, Herman Shah Anuar.

In this day and age, higher education is very much in demand, for the most part, in the modern world. As a result, this scenario comes with numerous challenges that attracted considerable attention from the working community as well as students. Training and development have emerged as common approaches in many organisations as these approaches support the organisations to move forward and remain competitive in the ever-challenging business environment.

The increase in demand for express service and delivery in the service sector is one of the indicators which denotes that the customer’s preference has changed. Those were the days when a customer just expects the product to be delivered on time. But now, with the latest technology, countless user-friendly applications have been introduced. These applications present a range of challenges to business owners and business operators as they have to be responsive to the customer who expects to get real-time responses or feedback within a few seconds or minutes.

These changes also offer lots of advantages for many newcomers in business and they should seize every single opportunity – when opportunity knocks, they must be willing to take the chance.  Newcomers in business should be open to accepting the challenges in meeting and satisfying their customers’ ever-rising expectations, needs and preferences.

For instance, the taxi services that we normally use many years ago ought to adapt and stay updated with recent changes and development to remain viable in the business world.

The ride-hailing service Grab has changed the scenario of taxi services. Utilising the apps on their smartphone, customers are presented with a range of services offered by “Grab”. They may choose to book any type of vehicle at their convenience – be it a compact car, medium-size car or even an MPV to meet their needs.

The “Grab” application was a product derived from the evolution in the financial technology or famously known as “fintech”. The term was coined back in the early 1990s from the “Financial Service Technology Consortium, where they were initiated by Citigroup with the objective to facilitate technological cooperation. However, this sector only becomes a hit in 2014 and since then, it has succeeded in drawing the interests of regulators, consumers and investors.

Jack Ma, CEO of Alibaba mentioned, “There are two big opportunities in the future financial industry. One is online banking – all financial institutions go online; the other one is internet finance – which is purely led by outsiders”.

Thus, in keeping with the latest technological progress and development, everyone needs to react accordingly to changes. Not only organisation has to transform but people, society, company regulators, ministry, relevant authorities, and many others need to respond quickly to the changes. That is why training and development are very much crucial in any organisation. The same goes for everyone in order to remain competitive in the VUCA environment.

It is important to note that, the world we live today is full of volatility, uncertainty, complexity and ambiguity. As such, continuous teaching and learning would facilitate our quest for knowledge. This is where improving oneself, such as acquiring additional knowledge and exposure is a must.

Pursuing a Master’s of Business Administration degree, for example, will make an individual gain a professional edge and present a wider opportunity for career enhancement in their respective fields. This is because MBA training offers a new perspective in their career where the process of teaching and learning is more industry-oriented and at the same time utilises hands-on approaches.

Continuous training and development are the keys to success for everyone. Training programmes are not only limited to pursuing a Master’s Degree per se but pursuing other professional certifications are also other good options.

For an organisation to remain competitive, it depends largely on how well the top management plans and organises the training programmes for their members of the staff as these will ensure that the company is fuelled by knowledgeable and creative people.

The world is changing rapidly and we see the emergence of opportunities, as well as threats. So, the way we respond to the scenario would determine the key for the survival of an organisation.

Prophet Muhammad SAW stated that- “Seek knowledge from the cradle to the grave”. This signifies that – it is the responsibility of each and every one of us to seek knowledge, regardless of your age, ethnicity or cultural background because that is the central element that would assist us in facing the challenges in the ever-demanding modern world.  

To sum up, continuous training and development play important roles in ensuring the progress and expansion of any organisation. The world we live in today is not the same during our forefathers time. We have gone through lots of improvements and changes in our lives. The way we learn and the way our children learn is incomparable. The only thing that we need to be aware of is – if we don’t keep up with the current trend, we will be left in the dust. The only option that we have is to change. Change is the only thing that is constant and the quest for knowledge is the key to a better future.

Dr Herman Shah Anuar, PhD is a Resident Faculty at OYAGSB. Follow him on ResearchGate.

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OYAGSB or the Othman Yeop Abdullah Graduate School of Business, Universiti Utara Malaysia is one of the leading business schools in Asia. It offers Master of Business Administration (MBA), Doctor of Business Administration (DBA), Doctor of Philosophy (PhD) and Doctor of Management (D Management) programmes for ambitious professionals, corporate executives and senior officials in their journey to formalise their knowledge at the highest level. To apply, visit OYAGSB’s official website.

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