An effective training evaluation plan

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Assignment 2: An Effective Training Evaluation Plan

Instructions:

In the online lectures in Module 3 and your textbook readings (“Training and Development”, Leadership”, and “Motivation, Job Satisfaction, and Job Involvement”) you learned about the importance of training your employees. However, training is only effective when employees can retain the information and incorporate what they learn to improve their job performance.

You have just learned that your company is looking for ways to cut back expenses. One of the cost cutting measures being considered is to terminate the training department, as the company considers this an expense and they do not believe training is contributing to the profitability of the company. As the head of the training department it is your job to defend the value of the department. You realize that well trained employees perform their jobs more efficiently and consequently can contribute to higher productivity and profits for the company. One way to show the value of training is to have tools that will allow a manager to track the performance of an employee both before and after they have received training.

Report
Write a report that will be shared with senior management on why training is a very important part of the company’s overall financial success. Discuss the advantages of having well-trained employees.

Evaluation Tool
Using what you have learned about transfer training and the evaluation of training programs create an evaluation tool which can be used to evaluate how effective any given employee training program is in terms of:

Increasing the level of transfer of knowledge (knowledge retention)
Monitoring the effectiveness of the skill performance in the job performance improvement
Include common attributes in your evaluation tool which could be applicable to most employees at the organization such as: employees showing concern for saving the company money or consistently turning in error free work. Your training tool should contain a minimum of 10 evaluation criteria.

Your training evaluation tool must be included with your report defending the value of the training department. You know that your report will be shared with senior level managers and eventually to the board of directors. However, you are uncertain whether or not you will be allowed to present your work at a later time or in a different manner. Therefore it is important that your report is well written and professional.

Report Details
The report should be 5-7 pages in length and include:

Executive Summary highlighting all the factors in the scenario.
Justification of the importance of retaining the training department in the company and explanation of how the training department is important to the overall success of the company.
Training Evaluation Tool to evaluate knowledge retention and job performance improvement (10 criteria minimum).
Explanation of how the evaluation tool will be implemented.
Describe how the evaluation tool will help evaluate the level of transfer of knowledge and skill performance for current training programs as well as, monitor and improve planning for future training effectiveness.
Summary and conclusion of tool’s effectiveness.

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July 1, 2023

121.In the context of the 1997 Asian crisis, how did the International Monetary Fund's “one-size-fits-all” approach to macroeconomic policy affect South Korea?

A. It led to a decrease in the interest rates of short-term loans.

B. It made it difficult for companies to service their excessive short-term debt obligations.

C. It decreased the probability of widespread corporate defaults.

D. South Korea failed to recover from its financial crises.

E. South Korea was forced to increase restrictions on foreign direct investment.

122._____ arises when people behave recklessly because they know they will be saved if things go wrong.

A. Systemic risk

B. Moral hazard

C. Ethical dilemma

D. Tragedy of the commons

E. Risk compensation

123.Jade, a working professional, began driving rashly ever since she got her car insured against damage. She believed that the insurance claim would cover her in case of any accidents. Jade’s behavior is due to a situation known as _____.

A. cognitive dissonance

B. conflict of interest

C. systemic risk

D. moral hazard

E. tragedy of the commons

124.The International Monetary Fund been criticized for:

A. its lack of “one-size-fits-all” approach to macroeconomic policy.

B. encouraging moral hazard among banks.

C. its lack of power and authority.

D. using external experts to gain knowledge about a country.

E. keeping its operations open to outside scrutiny.

125.According to the critics of the International Monetary Fund (IMF), how should the problem of moral hazard exhibited by banks be resolved?

A. The IMF should use a “one-size-fits-all” approach to macroeconomic policy.

B. The IMF should establish a mechanism for accountability.

C. The IMF should free all banks from the obligation of financial reporting.

D. The banks should be forced to pay the price for their rash lending policies.

E. The IMF should bail out the banks whose loans gave rise to financial crises.

126.According to the noted economist Jeffrey Sachs, the International Monetary Fund should:

A. not be accountable to anyone as it is a powerful institution.

B. bail out the banks that have rash lending policies.

C. have a “one-size-fits-all” approach to macroeconomic policy.

D. keep its operations open to greater outside scrutiny.

E. lend only to countries with safe credit ratings.

127.The International Monetary Fund programs have been counterproductive, or only had limited success in _____.

A. Turkey

B. Iceland

C. Greece

D. Ireland

E. Latvia

128.In response to the global financial crisis of 2008–2009, the International Monetary Fund began to:

A. exercise tight controls on fiscal policy of the borrowing countries.

B. encourage activities that resulted in high inflation rates.

C. display inflexibility in policy responses.

D. urge countries to adopt policies that included fiscal stimulus and monetary easing.

E. adopt a “one-size-fits-all” approach to macroeconomic policy.

129.Which of the following observations about the International Monetary Fund (IMF) is true?

A. The IMF can force countries to adopt the policies required to correct economic mismanagement.

B. Internal political problems can affect a government's commitment to taking corrective action in return for an IMF loan.

C. In recent years, the IMF has begun to make its policies more tight and inflexible.

D. In response to the global financial crisis of 2008–2009, the IMF began to adopt a “one-size-fits-all” approach to macroeconomic policy.

E. In recent years, the IMF has begun to urge countries to oppose fiscal stimulus and monetary easing.

130.Which of the following poses a problem for international businesses in the long run?

A. Using exchange rate instruments like the forward market and swaps

B. Volatility of global exchange rate regime

C. Anti-inflationary monetary policies

D. Maintaining strategic flexibility by dispersing production to different locations

E. A policy of reduction in government spending