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 isnt investing in corporate training, think about all the companies you admire as models for doing business right."
"Youll not only find that theyve got a good business training program, its a part of their culture. If you ask them why they train, they probably would look at you like you were from Mars, because its 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 companys 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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