Write 17 page essay on the topic Learning and Development Bachelor.Download file to see previous pages... The company that will be treated as case study in this report is the People's Bank of China wh

Write 17 page essay on the topic Learning and Development Bachelor.

The company that will be treated as case study in this report is the People's Bank of China which is the central bank of the country. The report presents an account of learning, training and development opportunities and strategies that could be followed to implement a comprehensive learning and development system at the People's Bank of China. Both formal and informal learning methodologies and strategies are discussed which could equip the employees of the People's Bank of China to keep pace with the cutting edge advancements in all fields of interests for central bankers including finance, IT, banks' supervision, monetary policy, foreign exchange policy and payment system stability in the country. The report aims to develop and recommend a set of methodologies with time bound plans for the implementation of a comprehensive learning and development framework for the People's Bank of China. This learning and development plan addresses the latent learning needs of almost all employees of the bank.

People's Bank of China is the central bank of China which has been entrusted with the tasks to ensure proper functioning of the country's banking sector. People's Bank of China does not operate as a commercial bank and hence, there is somewhat unique set of goals and objectives for Bank of China than all other banks in the country, as noted above. In line with these specific goals, the bank has to keep itself updated in order to be not only a role model for others to follow but to be able to ensure that a constant quality control mechanism for conduct of other banks is provided on which the commercial banks are evaluated by central banks of world.

Towards this end, the People's Bank of China requires that its employees must be trained for best practices in banking, risk management, and supervision etc. The current training system of the bank is old and outdated. It consists of virtually no formalised training process which is the main reason why the People's Bank of China is unable to provide support and guidance to commercial banks in the country. Since the employees of central bank are not aware of international best practices, they can not guide others in the country which is the main reason for declining performance of Chinese banks in recent times.

In addition, the central bank has no formal training and learning function as such. All trainings are identified by individual division heads and section heads and are approved by department heads. All departments are provided a very small training budget. There is no centralise control on the training programmes and no effort is made to ensure that the identified trainings conform to the overall goals and objectives of the organisation. As a result, people are found to have been trained on a number of areas not related to the central banking field. This ultimately results in loss of revenue to the bank as all training and development expenses are to be borne by the bank.

Hence, though the bank ends up paying high bills for training expenses each year, the net impact on the employees after receiving these trainings is not very visible and thus, most part of the training budgets are wasted on non-productive activities.

Moreover, the general environment of the People's Bank of China does not support sharing of ideas and information.