Organizations need to integrate continous improvement into the management process & plan to continuously advance through successive improvement in critical process.
In today's highly competitive global scenario it is a question of survival of fittest and thus in order to survive, skills and abilities are to be horned and sharpened continuously. Without continuous development there would be no growth and this will lead to stagnation, which will result in yielding of place to a more efficient player. Management and technology are key areas that are being continuously influenced by globalization and consequently are becoming drivers of training and skill development. Innovation emerges as a determining factor of success and growth of business irrespective of the size and nature of the enterprise. It is identified as the driver of comparative advantage for the future of the enterprise. Product innovation, customization, process efficiency and innovation are seen to be the keys to competitive advantage. Collaboration helps business innovate in many ways, for example technology alliances and co-operative arrangements that allow firms to share costs extend product range and access new knowledge and markets. Networks, alliances and collaborations are vital for increasing performances. A global enterprise is envisioned as being managed through process based discipline, network structures, managed with alliance partners, common IT platforms for low cost management, operating units constructed around unique core competencies. To meet this vision steps like commercializing technology, skill development, for entrepreneurs and managers in new product development. Electronic commerce, on line technology and on line marketing should be undertaken.
Human capital and skills are becoming increasingly important in a knowledge-based economy with technology and resources becoming more and more mobile.