The T&D is the strategic mechanism that enables such competence in the firm that would make it competitive, and thus make it sustained for the longer time with innovations and product development. If the cost of production is reduced with T&D and skill development, the expansion of the market for the business becomes easier. Therefore, the strategic importance of people’s skill development and learning enables it to achieve the objectives that it has set forth for itself(Tyson, 2013). The business of Honda motors understood this well in a global competitive market and took adequate steps as discussed to enable itself to be one of the main players in the sector.
The Training and development are also keys to another very important aspect of the business.It is standardizing the processes of production, maintenance, communication, and reporting formats. Those processes would help the business to retain its employees. Thus it uses the competence of the group for better outputs. The team coordination is improved, and the person becomes aware of the processes and understands whom to approach for what. The process of T&D achieves the comprehensive ability of the business to enhance its exposure and integrate changes by the market need. Hence, the strategic importance of T&D is immense for the business and a big function of HR to support it. Today Honda is a market leader in few economies in spite of the fierce competition in the sector due to its ability to judge the market and take steps for development accordingly.
Therefore in a competitive market where the product quality and price are the key competing factors the people makes the difference in making it so. The people in business improves their skills and knowledge in the process, and makes the business attain a status where it is competent enough to be a market leader or near it in market share development. The strategy of the business is growth, sustainability, and expansion.