Business Skills

Significance of Business Skills & Skill Enhancement Programs

(Entrepreneurial Approach)

SKILL is defined as the ability to do something well. The skill profile is a tool for the realization of organization's philosophy, values, and vision. It is utmost important for the implementation of any business strategy. It leads towards best utilization of resources, human as well as non-human. It develops ability of organization, structural as well as operational. In addition, an efficient and effective system of skills provides best guidelines for evaluation & adjustment of business processes. Skill profile is improved or maintained through a well-defined framework of reward structure of institutional system.

A deficiency in skills, conventional as well as innovative, tends to produce less than optimal returns on efforts, excessive efforts are made by economic agents but moderate returns are achieved. It is noteworthy; a skill deficiency phenomenon has two aspects - qualitative and quantitative. The quantitative deficiency can be managed trough hiring more skilled staff, a horizontal expansion of skill profile, while the qualitative deficiency is reduced through some skill enhancement program of existing staff members, a vertical expansion of skill profile

The inevitability and desirability of Skill Enhancement Program has two levels – individual as well as collective. At individual level the skill enhancement urge is outcome of livelihood urge for survival & interdependency phenomena of individuals. At collective level the skill enhancement demand is outcome of survival, growth, & development needs of an institution or society. According to the World Bank, a faster and sustainable economic growth requires three fundamental factors: Human Capital, Physical Capital, and Natural Capital. Interestingly, human capital has a major share (64 per cent).

Wisdom Inn For Skill Enhancement (WISE)

Silverline Management Consultants & Software Engineers (SMCSE)