Assignment 2: Determine The Cost For The Training Program

Training Employees
Name:
Institution:
Course:
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Introduction
As the world progresses into a more inclusive global market, there is need for companies to embrace what is coming. A global shift in the market dynamics, where the traditional markets are constantly going to be challenged. The digital age has also come with a revolution that is taking on the corporate world. Technology is everywhere and in every other process and companies need to embrace the changes that come with the same so that they are able to compete sustainably in a dynamic market. At the same time adaptability is a key component of the challenges that the firm is facing. With the dynamic nature of the market today, it is important for companies to stay ahead of the competition by making sure that they are able to adapt to the changes taking place in the market (Truitt, 2011).
Training needs
In light of the training needs analysis, there are some aspects of the company that need to be sharpened to make sure it is able to compete effectively now and more importantly in the future. One of the training needs is associated with the dynamic nature of the global market (Patel, 2017). As the traditional markets shift, there is need to embrace the new trends especially with the rate at which, business is going to the east. This means that employees have to ready to work with staff and customers on the Asian content. This is an aspect that will change almost everything that most of the staff understand about the traditional markets (Truitt, 2011). Understanding the cultural differences could mean the difference between losing all the business in the new market to becoming a market leader in the emerging economies.
The other training need is associated with the ability to communicate effectively in a market that is fairly different from the traditional markets in the western nations. Communication is at the backbone of the cultures and is one of the factors that signifies the complexities of the different nations and regions. The western and eastern countries have different ways of communicating from the body language, to the way they dress, gifting, decision making, presentations, close deals communicate mistrust and disappointment among others (Truitt, 2011). All these are complex elements that are not obvious to many of the staff. As such, there is need to start the training on some of the basic elements that the staff need to be aware of so that they are not caught off-guard.
The other need is associated with the current trend in the level of technological applications in the market. This is an aspect that affecting every other areas of the market and even the consumer behaviors and preferences (Patel, 2017). As such, there is need as a company to deliberate on the various ways that technology is likely to affect the market in the future and act accordingly. Like the other two needs for training that have been established above, this is a trend that is likely to put the company in a rather disadvantaged position if not handled effectively. The market is constantly changing from the way the customers can access their products to what products they prefer and they prefer the products are delivered to them. With the element of technology in the...