Innovative Learning Approach for an Entrepreneur - A New Dimension for Skill Development

Abstract

Successful strategy execution depends on access to intellectual and operational know-how, customer and
supplier relationships, a committed workforce and other such intangibles. The hearts of these intangibles
come alive, when the firm invests in human capital. Capital budgeting and financial planning frame work
offers very little to guide human capital investment decisions. Manpower costs typically constitute a
significant component of operating expenses. Few organisations understand their employee investments
beyond the cost of salary and benefits and fewer still understand the return on their investment in employees.
The basic need for the organisations is to calculate the returns on the multi-million dollar investments they
make each year in their employees. It is the development of our people that has to be at the heart of
sustainable economic development .We must invest and support an environment that can harness the energy
and aspirations of a vast majority of our people so that they can contribute to and get benefit from this new
phase of growth and be part of the exciting future.
For the survival of any business, it becomes extremely important that employees be well equipped with skills
that make them dynamic, proficient and help them keep up with the speed of the current business terrain.
This is because, these are the people who are going to produce, deliver, manage and refine the products and
services. Not everybody is born with skills that are good for business and neither would they be inherently
adept at such skills. But these skills can be taught to employees across ages and levels. Learning therefore, is
an integral activity for all professionals in the corporate world. It is high time that companies take joint and
serious efforts towards learning, so that not only they built better people, but also build better results.
Preparing young people for roles in the flourishing retail, BPO, hospitality and other service related
industries will be very important. We need a broad based strategy to provide rural India access to markets
and technology, financial inclusion and human capital development. A close partnership between
government, educational institutions and industry can change the entire ecosystem and drive it towards
uplifting the skills and capabilities of the nation and achieve this with a scale that is required for our growth
ambition.