READ THE FOLLOWING CASE STUDY AND ANSWER THE QUESTIONS THAT FOLLOW. DRIVING CHANGE THROUGH TRAINING AND DEVELOPMENT Every organisation needs to move forward and face the future. To do so, it must make decisions that create a better way of doing things. Change and the improvements brought about by change are at the heart of strategic planning. Strategic planning is a process that involves an organisation in defining its future achievements and then providing the means to achieve these goals. In 1994 Northern Rock undertook a strategic review that encouraged it to become more proactive than reactive to sustain and improve growth. The key element during this process of change was the training and development of staff. This case study focuses on how training and development at an organisational level, was used by Northern Rock during this process of change to equip Society for the many challenges of the 21st century. Over recent years, one market which has been subject to increasing change has been that of financial services. In competitive markets, organisations have to monitor their business environment and adjust their strategies so that consumer needs are fulfilled profitably. In such times it is the responsibility of decision-makers to identify whether change needs to take place and prepare organisations for this change by implementing training and development strategies to help them to build a better future. With competition in the financial and insurance sector increasing, Northern Rock accepted that it had to recognise the needs of its customers and communicate to them how it had the products and services to satisfy those needs. The review resulted in the development of a program called Selling To Achieve Results (STAR) which was to provide Northern Rock with the ability to maintain and further develop its competitive position. Training & development Training and development are essential during a process of change. As changes occur, training is a process that makes sure that individuals can reach an acceptable performance in their jobs. It sets out to fill the gap between what they are currently doing and what they are required to do as and when the changes take place. It, therefore, builds up the skills which help to increase the competence of people in the workplace. Development is the modification of behaviour through improved experience and understanding of a role or position. Development works hand-in-hand with training as it helps individuals to review their Provide a comprehensive discussion on the functional components of the Human Resource Information System (HRIS). Further, explain the importance of the Human Resource Manager to implement digital transformation strategies aimed at preparing them for the Fourth Industrial Revolution. 3 present achievements and experience and set learning goals that relate to where they want to be. This is known as a development plan. Source: https://businesscasestudies.co.uk/northern-rock/

QUESTION: TWO (25 MARKS) According to the above case study, identify the fundamental factors that resulted in Northern Rock embarking their employees on a training and development program. Further discuss the crucial purpose of any training and development program. Apply the above case study to motivate your response.