THE IMPACT OF TRAINING AND PROFESSIONAL DEVELOPMENT ON A MARKETING COMPANY
Background of the study
To attract and keep the greatest employees, businesses must invest in their growth. Training and development must be taken extremely seriously.
Training and development is essential in order to maximize the contribution of human resources to the attainment of the organization's goals and objectives. Human resources are a crucial but expensive resource; therefore, in order to maintain the economic and effective performance of this resource, it is necessary to maximize their contribution to the achievement of the organization's goals and objectives. Training is required to guarantee a sufficient supply of technically and socially competent individuals for departmental and managerial positions. (Mullins, 2007). According to Heathfield (2012), the correct staff training, development, and education at the right time yields substantial returns for the firm in terms of improved productivity, knowledge, loyalty, and contribution. Human resource management is now viewed as a strategic partner to the other functional areas of the organization, including marketing, finance, production, purchasing, management information systems, and administration. Since the success or failure of a company is contingent on the quality of this resource as well as its orientation, the human resource of any firm is supposed to be its competitive advantage. This is founded on the belief that an organization's people resource is its competitive edge. Training is an essential component of the human resource development (HRD) activity of human resource management practice. For employees to carry out their responsibilities effectively and efficiently, they must possess the necessary skills, knowledge, values, attitudes, and competences, in addition to understanding the organization's culture. During their employment, personnel must undergo training and development to gain skills they lacked at the time of their hiring. This is why a company may require a training and development department, sometimes known as Human Resource Development (HRD). After acceptable individuals have been found and hired, they must receive the required orientation and be trained and developed to satisfy the organization's career requirements.
Global competitiveness has prompted businesses to scrutinize every area of their operations, wondering how each function and procedure may contribute to strategic objectives. Similarly, training departments are under pressure to demonstrate their organizational value. This is because, according to Steed (2000), firms invest a great amount of time, effort, and money in training their staff, yet the rewards of these efforts are not readily apparent in terms of better performance. Effective training and development requires careful planning and consistent implementation. Rao and Nair, respectively (1990). Particularly in performance-driven organizations, the capacity of a company's workforce affects its ability to attain its objectives. Human resource is seen as a crucial success factor. To maintain organizational performance, it is essential to maximize the contribution of employees to the accomplishment of the organization's objectives and goals (Armstrong, 1999).
Training and development services assist businesses in creating a staff with the knowledge and skills necessary to achieve their corporate goals. A marketing approach is vital for increasing training awareness and maximizing participation. However, according to a 2008 survey by training supplier Expertus, only 15% of internal training departments had a structured training strategy, and 62% lacked a training budget (https://smallbusiness.chron.com).
Every firm, regardless of its size, must have specific objectives in order to grow. These targeted objectives will assist the company in sustaining itself in an increasingly competitive market and also in increasing its sales. The purpose of marketing strategy is to outline your objectives so that you may direct your efforts in the proper direction. A well-defined strategy should not only assist you achieve your own objectives, but also the objectives and expectations of your customers. Typically, marketing comprises of a few default factors for its establishment. The most significant of these are the organization's short- and long-term objectives. Following this is an analysis of the market where the organization intends to build its business. Targeting appropriate clients and increasing the client base are of vital importance for a service-based firm. Also, conducting a SWOT (strengths, weaknesses, opportunities, and threats) study of the services or products offered for sale will assist the firm in analyzing itself. A great marketing plan will generate a win-win situation for both the firm and the customer. Obviously, client happiness will boost the organization's brand value and provide a competitive advantage. It aids in the creation of a realistic approach plan that outlines the means to achieve the stated objectives. Once the strategy and goals are finalized, the organization can search for efficient ways to implement the plans, making the process more effective.
The majority of profitable businesses maximize their marketing strategies for higher earnings. The beverage business contributes significantly to global sales, both local and foreign. Due to the constant and fluctuating demand for various beverages, beverage industry must have an effective marketing strategy. Coca-Cola is an example of a company that has successfully implemented its marketing strategy.
1.1.1 Coca Cola Company History
The Coca-Cola Company is an American multinational firm that produces, distributes, and retails beverage concentrates and syrups. Coca-Cola is a market leader in the soft drink and beverage business. It adds to the highest soft drink sales worldwide.
Dr. John S. Pemberton, a pharmacist from Atlanta, founded Coca Cola in 1886 when he attempted to develop a syrup that could be sold at soda fountains. The syrup was initially combined with carbonated water and then drank. Frank M. Robinson, Dr. Pemberton's partner and bookkeeper, coined the name Coca-Cola because he believed the two “Cs” would sound good in advertising. In addition, he created the trademark's characteristic script, which is still in use today. Prior to Dr. Pemberton's death in 1888, Coca Cola was sold to multiple parties, with Atlanta merchant Asa G. Chandler acquiring the controlling stake. Mr. Chandler is credited for establishing the structure of Coca-empire. Cola's Outside of Atlanta, Coca Cola was distributed at soda fountains under his direction. Joseph Biedenharn installed bottling equipment in 1894 and became the first person to bottle Coca Cola. Coca Cola has been successful in increasing its daily sales to 1.9 billion servings. Approximately 94% of the world's population is familiar with Coca Cola's red and white logo (http://www.iosrjournals.org). Coca-Cola came in Nigeria in 1951 and has remained a favorite among Nigerian customers ever since.
The researcher wishes to evaluate the influence of training and development in a marketing organization in light of this background. Coca-Cola Company is used as a case study.
Statement of the problem
Staff training and development is acknowledged as a critical factor in achieving company goals and objectives. To maintain an organization's economic and effective performance, it is essential to maximize the contribution of employees to the organization's purposes and objectives. The Armstrong (1999). Training and development activities have ramifications for efforts to encourage and engage the workforce in order to enhance performance. One of the fundamental goals of human resource management is the establishment of conditions that enable employees' latent potential to be fulfilled and their commitment to the organization's success to be secured. Therefore, training and development are mostly unplanned and unsystematic. It appears that the majority of new hires do not receive training (orientation).
Does training and development impact the performance of employees and the attainment of organizational goals and objectives at Coca-Cola Company? What are the prerequisites for the necessity of training and development? How are training and development requirements identified? What must be done to secure the transfer of training-acquired skills and competencies to the workplace? What role would performance evaluation and job description play in determining employees' training needs?
This study's primary purpose is to explore the impact of training and development in a marketing firm.
The particular aims are:
To investigate the effectiveness of the organization's personnel training and development.
To examine the present training and development techniques in organizations that are intended to contribute to the enhancement of employee skills and performance.
To assess the perspectives of management staff regarding the effectiveness of employee training and development programs as a means of boosting employee performance.
To examine the various training approaches utilized by the firm.
To assess the various approaches employed by the company for choosing employees for training.
Following are the specific questions that guided the researcher:
What methods of training and development does Coca-Cola provide its employees?
How are employees selected for participation in training and development programs?
What effect does training and development have on the job performance of Coca-Cola employees?
How can Coca-employee Cola's training and development program be improved?
What challenges does the Coca-Cola business confront when implementing job training and development programs?
1.5 Importance of the research
The study will be useful to Coca-Cola Company management by encouraging them to embrace training and development to increase competitiveness. It will also help to determine how training has impacted employee performance and what improvements can be made to better equip and motivate agents for improved performance. The paper will also serve as a resource for future researchers who investigate relevant topics.
Limitations and scope of the study
The scope of the study encompasses the effect of training and development in a marketing firm. The research will be limited to Coca-Cola Company in the state of Lagos. The researcher is constrained by the following factors, which limit the scope of the study:
Insufficient research materials are provided to the researcher, consequently limiting the scope of the investigation.
Time: The time allotted for the study does not allow for a broader scope because the researcher must balance the study with other academic activities and exams.
Financial limitation – Inadequate funds tend to impede the researcher's efficiency in locating relevant resources, literature, or information and in collecting data (internet, questionnaire and interview).
1.7 Definition of essential words
Training is any activity geared toward the acquisition of certain abilities, knowledge, or attitudes for the purpose of a job or a specified task.
This is the enhancement of an employee's intellectual and human skills in preparation for future employment.
Performance is the level of an individual's work accomplishment that results from his or her efforts alone.
Employees: These are an organization's personnel
Organization: This refers to any structured group of people gathered together to accomplish particular goals that individuals could not achieve on their own.
1.8 Organization of Research
This study consists of five chapters. The first chapter introduces the study and provides context, a problem statement, objectives, a research question, a hypothesis, the scope of the study, and an original component of the research. The second chapter reviews pertinent and related literature. The research technique is described in chapter three, while data analysis and interpretation are provided in chapter four. The final portion of the study covers the summary, conclusion, and recommendations.
THE IMPACT OF TRAINING AND PROFESSIONAL DEVELOPMENT ON A MARKETING COMPANY