Staying Competitive In The Global Market
The need to upgrade your business skills.
The Global Reality Check
The global economy post 2008 did not collapse. The complaint today is growth and recovery is too slow. This may be so, but the fact remains that the global economy is growing steadily.
The challenge now is to identify the new consumer trends, to innovate your products and services and to develop a marketing strategy to tap into this new growth path.
Canada is said to have replaced all jobs lost since 2008 but essentially with new jobs created.
The challenge today for all companies worldwide is how to retrain their managers and employees so that the company is ready to seize the emerging business opportunities.
The challenge now is to identify the new consumer trends, to innovate your products and services and to develop a marketing strategy to tap into this new growth path.
Canada is said to have replaced all jobs lost since 2008 but essentially with new jobs created.
The challenge today for all companies worldwide is how to retrain their managers and employees so that the company is ready to seize the emerging business opportunities.
Relevant Skills
For employees, retraining is an opportunity to remain relevant and to move up the skills ladder to better paying jobs. For companies, it repositions the business for new opportunities that global economic growth promises.
The worlds’ largest market North America is putting strong emphasis on education and retraining with a sense of urgency the has attracted strong debate within industry and the wider society.
Canada’s good fortune is to be an economy with a highly trained pool of people supported by major commodities exports within this North American free trade area.
Canada’s good fortune is to be an economy with a highly trained pool of people supported by major commodities exports within this North American free trade area.
The 21st century information age economy which has replaced the industrial age economy of the 20th century pays a premium for new knowledge that creates new products demanded by an ever decreasing product life-cycle in the market place.
Rapid Technological Change
With such a rapid pace of technological change driving innovation, companies need to invest in “continuing lifelong retraining” of employees. Skills upgrade has to be an integral part of human resource management.
Keeping skills current is a major challenge that requires a yearly budget that allows for trainers to be brought in with fresh ideas in all areas of business management and operations.
Keeping skills current is a major challenge that requires a yearly budget that allows for trainers to be brought in with fresh ideas in all areas of business management and operations.
For individuals who do not have access to skills upgrade or retraining programs provided by an employer the option of continuing education and retraining outside of the workplace and on their own time needs to be considered.
Continuous Improvement
Individuals and companies need to keep up with new ideas and skills that emerge in order to stay competitive in the market place. Failure to stay current with developments in your area of expertise could result in you becoming redundant. To remain an asset to the business the mindset has to be, “continuous improvement is the law of success and continued profit”.
The New Skills Reality
This is what all organizations and individuals need to do to succeed in this emerging global economic growth path:
1. Identify the current skills assets of all individuals in the organization;
2. Identify the strengths and weaknesses of current knowledge and skills;
3. Identify the skills training that will give the organization an edge against the competition;
4. Bring in the consultants to advise on current global market demands;
5. Identify if individuals are motivated and inspired to excel at their current job;
6. Identify the appropriate training needed to keep the organization competitive;
7. Get your consultant to recommend the appropriate skills upgrade needed; and,
8. Advise employees on benefits of retraining for their career and the organizations success.
Remember that certain skills retraining are always necessary in areas such as computer technology, productivity, marketing, language and communications.
These are the realities of living and working in a global information economy driven by the rapid spread of information and technological advancements.
These are the realities of living and working in a global information economy driven by the rapid spread of information and technological advancements.
It is therefore vital to stay ahead of the competition.
