Is e-learning a Panacea of All Business Ills?

Is e-learning a Panacea of All Business Ills?

Is e-learning a panacea of all business ills?

Globalization has indeed proved to be a boon for the corporate organizations as seen by the fact that in 2011, the world’s 500 largest companies (called the Fortune 500) pulled an average of 40% of their revenues from non-domestic markets (Tully, 2012).

The promise of globalization is to help businesses grow rapidly, but along with it, come the business challenges organizations face today. One big challenge is training their Global Workforce.

Can elearning help organizations to overcome these challenges? I think in some way yes! Let me show you how.

Understanding Culture: In a survey conducted by us from 94 stakeholders from around 30 countries revealed that understanding culture was the KEY to developing relationships and increasing business. Language is a very important facet of culture. If you want to train your global sales force and other employees, you need to train them in their language. Creating a culture neutral course and translating into various languages can be an easy and cost effective solution to train global teams.

Increased Customer Demands: With the advent of technology and more so internet, customers are becoming very demanding. As business owners, to be on the edge and get a bigger pie in the market share, we need to be creative and innovative. Innovation is the key. Most of the consumer and electronics majors are coming up with innovative products as many as 30 in a year.

This brings 2 major challenges educating the sales people and customers. Sales team on the new product – features, benefits and markets and consumers on the features. As there is very little time to share the knowledge, eLearning is a best solution. Quickly rollout product training and customer training using rapid authoring tools like Articulate Storyline.

Compiling with Regulations: Complying with various government and other bodies is always a major concern for organizations, especially if you have a global presence and you are into medical and IT industry. There are many environmental and health regulations that need to be complied with. You need to make sure that all your employees and business partners are aware and trained on these standards.

Here also elearning can play a major role in quickly training your people. Also reports generated from Learning Management System act as a proof for regulatory bodies.

Lean Processes and Profitability: As organizations need to meet the demands of global markets, it needs to have lean processes and effective supply chain management. This will ensure good margins even if we need to make competitive prices. Organizations are spending heavily in making their processes lean and training the team on processes.

Training on supply chain basics will ensure that team understands the importance of lean processes and productivity.

Rapid and Continuous Change: If organizations need to continuously grow, it needs to change rapidly. A change management process in place will help teams quickly adapt to the changing demands of the customer and markets. Any new information can be quickly available to all employees through byte size elearning nuggets.

So, I hope you see the relationship between overcoming the global business challenges and eLearning.

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