Lack of Business Training Contributes to Small Business Failures
Online Training Results in Increased Productivity and Business Success
(PRWEB) January 12, 2005 -- Over half a million U.S. small businesses will
fail this year according to statistics from the U.S. Small Business
Administration. For every one business that succeeds, ten will not. Business
failure is not only common with new start-up companies but also with businesses
that have been around for some time.
An analysis by Coleman Management
Services Inc., found that less than 17% of the reasons cited for business
failure are due to outside influences such as inflation and economic reasons, or
union problems. 83% of the reasons a business fails are within the control of
business owners and managers.
What can CEO's and organizations do to
ensure they will survive and flourish? Where do successful companies invest
their funds and attention? One area proven to result in long-term stability and
expansion is business training. There is a direct correlation between the level
of investment in company training and increased levels of productivity and
profitability. (Electric Perspectives, Nov/Dec 2004.)
Fortune 500
consultant and trainer, Brian Tracey advises, "If your company isn’t investing
in corporate training, think about all the companies you admire as models for
doing business right."
"You’ll not only find that they’ve got a good
business training program, it’s a part of their culture. If you ask them why
they train, they probably would look at you like you were from Mars, because
it’s like asking them why they breathe."
"If you want to breathe some
life into your operation, start by investing in your people: train
them."
Online training can deliver significant cost savings for CEO's and
their organizations when compared to traditional types of business training,
according to ASDT (American Society of Development and Training).
Providing extra skills to employees leads to higher job satisfaction,
which shows up in better corporate performance and business success. Taylor
Guitars, Inc.(http://www.taylorguitars.com), the world's largest supplier of
acoustic guitars, has seen the results of online training since implementing
Training4Business' CourseWare (http://www.Training4Business.Com).
Employees at Taylor
Guitars have completed over 3200 online courses and what used to take production
staff 90-120 days to learn now takes only 30 days. The efficiency of e-Learning
has saved time and money in both production and administration areas of the
company.
ASDT's 2004 State of the Industry Report, shows that the use of
technology for delivering learning increased almost 30% in mid-size companies
and close to 35% in larger companies in 2004 and will continue to increase in
2005.
According to Bersin & Associates, as much as 20% of corporate
training is being conducted online, and as much as $12-14 Billion of total
training content, services and technology is now dedicated to e-Learning. 2005
will be a growth year - the economy is growing, Internet connectivity is
growing, and computers are faster than ever.
Training and development
initiatives at all organizational levels transforms organizations. The knowledge
gained can lead to increased productivity, profits and business
success.
About Training4Business
Training4Business provides
step-by-step e-Learning systems and CourseWare designed to meet any company’s
training needs affordably and easily. Built-in proven learning methods and a
multi-media interactive training approach assure consistency, reliable
understanding and 100% efficiency. For a free online demo to learn about
CourseWare using CourseWare, to sign up for our free e-Buzz Newsletter, or for
more information, visit: http://www.Training4Business.Com
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Source : http://www.prweb.com/releases/2005/1/prweb196533.htm