* Describe in detail the training process. What is training? What is training's strategic context? Discuss and include performance management.

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Nestor RutherfordLv2

11 Mar 2019

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Related questions

3) What is the Five-Step Training and Development Process? Be specific and describe each step and what it does.

Presented here is the information needed to calculate the Utility estimate of a cross-training project using the following formula.

ÎU= (N) (T) (dt) (SDy) - C

Presented here is the information needed to calculate the Utility estimate of a cross-training project using the following formula.

ÎU= (N) (T) (dt) (SDy) - C

Important Instructions:
Complete the equation. Show your work (math at each level) in relation to the formula so I may best help identify any problems in your solution. Number each question/response.

Then, answer the following:

1. What is the projected benefit to the organization of training these thirty (30) team members? [ sum of (N) (T) (dt) (SDy) ]
2. What was the cost? [ sum of C ]
3. What is the estimated change in utility of this training? [ sum of ÎU ]
4. Describe how you would you "present" this information to top management, as they consider whether or not to use this training program for others in the organization?

According to the rule for optimal input usage, a firm should hire a person as long as her marginal revenue product is greater than her marginal cost to the company. It is well known that many companies have management training programs in which new trainees are paid relatively high starting salaries and are not expected to make substantial contributions to the company until after the program is over (programs may run between 6 to 18 months). In offering such training programs, is a company violating the optimality rule? Explain in detail.