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Water Newton, Cambridgeshire, United Kingdom, 2007/05/08 - Smart companies are turning their training and development activities into revenue earners. Report identifies exciting opportunities to make money which most companies are missing. Entrepreneurial approaches are required.
Corporate learning activities still represent a significant cost for many organisations according to Prof. Colin Coulson-Thomas, author of ‘Developing a Corporate Learning Strategy’. The experience of companies recently visited suggests many opportunities to generate revenues are being missed.
According to Coulson-Thomas: “A corporate learning strategy should add value for shareholders and customers …not impose extra costs.” The ‘Developing a Corporate Learning Strategy’ report lists 25 examples of information and knowledge-based services, as well as learning and development activities, which could be shared, undertaken collaboratively, or offered to third parties commercially by electronic means.
The Professor believes: “Corporate learning has already crossed a watershed in some organisations to become a vital business driver. HR and training professionals who are not at the heart of what needs to be done in others are going to be increasingly marginalised. That won’t be good for their organisations, or for their own career prospects.”
Coulson-Thomas insists there are no off-the-peg answers: “Each organisation needs to review the issues it faces and understand the far-reaching nature of corporate learning challenges and opportunities. The debate needs to be informed and realistic. Your solution should be different from others but right for your situation and context, right for the people you are responsible for, and right for customers and those you serve.”
Prof. Coulson-Thomas believes: "Learning support services are destined to become a core driver of the future development and growth of the knowledge economy. Ambitious corporate leaders are forging new forms of mutually beneficial relationships with universities and other educational bodies. Many educational bodies could develop significant extra revenues by better exploiting what they know and collaborating with companies in new ventures."
Based on in-depth research involving 69 organisations with 460,000 employees, the 239 page A4 report ‘Developing a Corporate Learning Strategy’ can be used to review an organisation’s learning strategy, brief the top management team on learning issues, find out how to set up a ‘corporate university’ or centre of learning, focus on the new learning agenda, develop a strategy to create knowledge entrepreneurs, and discover ways of generating add-on revenues from corporate learning activities.
Nine policy issues are examined in depth in the ‘Developing a Corporate Learning Strategy’ report, including developing the skills and assembling the internal and external capabilities to build a learning organisation. The report contains diagrams, checklists and 13 revealing case studies to help ensure an organisation’s corporate learning strategy adds value for its customers and shareholders.
‘Developing a Corporate Learning Strategy’, a related report ‘Managing Intellectual Capital to Grow Shareholder Value’, other reports presenting critical success factors and winning ways identified by Prof. Coulson-Thomas’ research programme, related bespoke benchmarking reports, and courses and workshops covering critical success factors and winning ways in areas vital for corporate success can be obtained from Policy Publications.
Prof. Colin Coulson-Thomas, an active consultant and experienced chairman of award winning companies, is the author of ‘The Knowledge Entrepreneur’, ‘Developing a Corporate Learning Strategy’ and ‘Winning Companies: Winning People’. He has reviewed the processes and practices of over 100 companies, helped over 100 boards to improve board and/or corporate performance, and spoken at over 200 national, international and corporate conferences in 35 countries.