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Practical Application of Price Elasticity

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Practical Application of Price Elasticity
Training is the acquisition of knowledge, skills, and competencies as a result of the teaching of vocational or practical skills and knowledge that relate to specific useful competencies. Training has specific goals of improving one's capability, capacity, productivity and performance. It forms the core of apprenticeships and provides the backbone of content at institutes of technology (also known as technical colleges or polytechnics). In addition to the basic training required for a trade, occupation or profession, observers of the labor-market[who?] recognize as of 2008 the need to continue training beyond initial qualifications: to maintain, upgrade and update skills throughout working life. People within many professions and occupations may refer to this sort of training as professional development.
Main Objectives of Training Programme are as follows:
i) To impart to new entrants basic knowledge and skills, ii) To assist the employees to function more effectively in their present position by exposing them to the latest concepts, information and techniques and developing in them the skills required in their fields, iii) To build up a second line of competent officers and prepare them as a part of their career progression to occupy more responsible positions. iv) To broaden the minds of the senior managers by providing them opportunities for interchange of experiences within and outside with a view to correct the narrow outlook that may arise from over specialization.
(v) To impart customer education.
On-the-Job Training (OJT) is a form of training taking place in a normal working situation.
On-the-job training, sometimes called direct instruction, is one of the earliest forms of training (observational learning is probably the earliest). It is a one-on-one training located at the job site, where someone who knows how to do a task shows another how to perform it. In antiquity, the kind of work that people did was mainly unskilled or semiskilled work

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