Introduction
The impact of employee training in small businesses which are in their first years of operations, have been a great subject of debate among several entrepreneurs and business scholars. This is because employee training or lack of it usually impact on the business either positively or negatively (Frese, 2000). A business may be either successful or fail to depend on the manner in which it is. Owners of some failed small business have been reached and are not proud about their failures (Olofsson et al, 1999). In addition, some of the successful business owners opened up and gave some of the components to their small business in the order of importance or decreasing manner. These are business knowledge, good market awareness, quality of management, enough capital, and hard work (Miles, 2011). Therefore, businesses may be failing for lack of proper product market analysis, standard business knowledge, personal management ability as well as sufficient money. A keen look at these key components of small business success reveals that business knowledge tops the hierarchy. Business knowledge cut across all stakeholders in the business and can only be achieved through appropriate employee training.
Background of the Problem
Majority of small businesses fails in their first years of operations, and this is something that has been of significant concern to entrepreneurs and investors (Adegoke, 2013). They have on a number of instances tried to answer the question of what critical components should a business has in place so that it can be successful in its first years of operations as well as the subsequent years of operations.
Problem Statement
This paper analyzes the impact of employee training on the success or failure of small business in their first years of operations. It concerns turn-over to businesses and of a special concern is how employee training can significantly pay to the business (Morgan & Palgrave, 2009). Small businesses can benefit and be successful in their first years of operations in the event that their offer training for their employees. This is because workers who are well-trained will assist businesses in increasing productivity and profits (Analoui and Karami, 2003). A business that invests in employee training will in the long run improve customer satisfaction, creativity for new market ideas and worker retention rates. In addition, effective and appropriate training for employees saves labor as it reduces the time spent in solving disputes or problems within the business. It also saves capital in the long run and produces a better workforce (Kusluvan, 2003).
Purpose Statement
This paper is to determine the extent to which employee training impacts on the success or failure of businesses in their first years of operations. The paper also endeavors to identify the critical components of a small business at it relates to its failure or success. This paper is more so designed to entrepreneurs, business men and women, investors, managers, and employees in small businesses. Students will also find materials of use in their learning and course works as far as understanding the success and failures of small businesses in their first years of operations is (Brinkerhoff & Apking, 2001).
The research methodology will be quantitative. In a survey, quantitative methodology provides statements or questions that invoke predetermined responses from the interviewees. In addressing the research questions, a survey of small businesses will be as this will allow the result of the survey to be informed by the majority (Berg, 2009). The method to be used will be a survey conducted through the use of a questionnaire. The questionnaire will gather information related to success or failure of small businesses that offer employee training, as well as demographics (Munn & Drever, 2004).
The survey will be during a month when small businesses are under normal operations and management. The locations of the surveys will be for tabulation. After gathering the data, a spreadsheet will be to reflect the responses to the questions (Jackson, 2009). The population is people who provide services or employees, and small business owners. These include managers, staff members, support staff, investors, and entrepreneurs among others. Since it would not be possible to conduct a census on the entire population, a small set of the population will be to represent the population. This sample will provide data that will be to draw inferences.
References
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