Training and development Literature review Example | Topics and Well Written Essays - 2000 words

Training and development - Literature review Example Therefore, this means that it is increasingly becoming difficult to define management at the contemporary workplace due to inconsistencies in both the classical conceptualization of management and the actual practicalities of management in organizations today, due to challenges of the changing environment. According to Andre De Waal et.al 2009 p.180, Vietnamese banks are increasingly under pressure to find ways of enhancing performance to increase their competitiveness in the highly competitive Vietnamese banking industry. Competition often results to scarcity of resources and decline of returns on investment especially where organizations have a low market strength compared to rivals, and this lack of competitiveness might eventually result to organizational failure. Andre De Waal et.al presents on the much under researched topic of high performance organization and characteristics of high performance in the Vietnam banking industry, and some of the major HPO factors highlighted inc lude, but are not limited to, quality of management and workforce quality. Quality management entails establishing and maintaining trust relationships with the human factor of the firm on all levels by valuing staff loyalty, treating them fairly with respect, understanding individual needs, in addition to encouraging belief and trust in others. A HPO also develops its workforce by training them to acquire strategic competencies and capabilities, giving them opportunities to learn from others, and encouraging creativity in the accomplishment of tasks through performance reviews. The banks in the Vietnam banking sector have come under increasing pressure to implement training programs in response to the pervasive pressures in the banking industry, to achieve both competitiveness and sustainability in the long term. Ha Thu Vu and Sean Turnell 2010, p.115 states that the banking sectors around the world have been subject to considerable changes over the past few decades through a number of factors such as deregulation, mergers and acquisitions, financial liberation, in addition to other reform and restructuring programs. They observe this evolutionary trend in the Vietnamese banking industry that started with the transformation of Vietnam’s banking system from a mono-tier to a two-tier banking system; domestic Vietnamese banks later went through rapid restructuring programs, financial deregulation, and became integrated into the global financial systems. Ha Thu Vu and Sean Turnell examine the cost efficiency of the Vietnamese banking industry by incorporating the monotonicity and concavity constraints in calculating the cost frontier using the Bayesian approach. In addition, this body of literature presents that the Vietnamese banking industry has undergone rapid reform programs to recapitalize the banks, to reorganize management activities, to improve staff skills, and enhance performance. This research further observes that the overall progress of the ban king industry reform has been spotty with the profitability of the Vietnamese banks remaining marginal. Quang Truong et al 2010, p.75 highlight the pervasive focus on developing and managing the human resources especially in the light of the search for competitive advantage and increasing