The Life Cycle Hypothesis The Life Cycle Hypothesis (LCH) is an economic concept analyzing individual consumption patterns. It was developed by the economists Albert Ando and Franco Modigliani. The theory is based on the observation that people make consumption decisions based on the income and resources they are expected to earn over their lifetime and at which stage of life they are at. The theory considers that individuals plan their consumption and savings behavior over the long term and intend
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Education‚ in its broadest sense‚ refers to the ways in which people learn skills and gain knowledge and understanding about the world‚ and about themselves. One useful scheme for discussing education is to divide these ways of learning into three types --- formal‚ informal and nonformal. Formal education is instruction given in school. It is often called schooling. In most countries‚ people enter a system of formal education during their early childhood. In this type of education‚ the people in
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cooperation and support”. Preface Training and development plays a vital role in translating management philosophy in to reality. Training can be used as effective tool to obtain the desired results and proper training at all level in the organization can greatly enhance the productivity level. Organizations with well-defined training programs create a positive work environment where there is a systematic learning and application in work place. Lack of training at appropriate time can be major
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A SUMMER INTERNSHIP REPORT ON " Training and Development at NALCO" BY Jaikishan Mishra Roll No:13202140 & Reg. No:13461631948 MBA(2013-2015) 13202140@ksom.ac.in Under the Supervision of Under the guidance of Prof. Partho Sengupta Mr. P.K. Tripathy Project mentor Assistant General Manager KIIT
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TRAINING PROCESS AND TRAINING NEED ANALYSIS Introduction Training can be described as “the acquisition of skills‚ concepts or attitudes that result in improved performance within the job environment”. Training analysis looks at each aspect of an operational domain so that the initial skills‚ concepts and attitudes of the human elements of a system can be effectively identified and appropriate training can be specified. Training analysis as a process often covers: * Review of current
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recommendations on establishing training and development departments in businesses large and small and improving existing training and development departments. Companies may feel that they are able to hire experienced employees through the candidate pool that is currently available and that having a specialized department for this purpose will be too expensive‚ but training and development provide benefits to the company and employees alike. According to Noe (2013): The goal of training is for employees to
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SUMMER TRAINING REPORT on “TRAINING & DEVELOPMENT IN HAL” In the partial fulfillment of the degree of master of business administration. Session (2012-2013) www.hal-india.com BY VIVEK BHATIA Under the guidance of FACULTY GUIDE COMPANY GUIDE Mr. Ritesh Krishna Srivastava Mr. S P SINGH (Head of Deptt) (Sr. Manager) INSTITUTE OF PROFESSIONAL
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2225-0565 (Online) Vol 2‚ No.4‚ 2012 www.iiste.org Employee’s Training and Development for Optimum Productivity: The Role of Industrial Training Fund (ITF)‚ Nigeria Aroge‚ Stephen Talabi Ph.D. Department of Arts Education‚ Faculty of Education‚ Adekunle Ajasin University‚ Akungba-Akoko‚ Ondo State‚ Nigeria draroge@yahoo.com Abstract The purpose of this study is to determine the contributions of Industrial Training Fund (ITF) to employee’s training and development in Nigeria. Survey research was used in
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this paper is to answer questions in reference to the training of the backhoe operator’s position at a Winnipeg gas utility company. The backhoe operator position was posted and hired. The firm opted to hire a man with little experience. The purpose of this paper is to analyze the training deficiencies that occurred after hiring an inexperienced backhoe operator. Backhoe Operator 1. What are the potential costs to this lack or training? Why do you think the company operated in this manner
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“How can organisations make a success out of their training and development programme?” Introduction The most important factor for the success of an organisation is the ability of the people it employs. In today’s world where vast technological‚ political‚ social‚ and economical changes take place‚ organisations have to be able to cope with these changes effectively. The changing force of competition‚ both domestic and global‚ compels organisations to innovate and use their resources in the
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