The Human Resource Management is an integral and strategic aspect of any business. This supports the long-term approach to managing the manpower in business to achieve the business goals and aspirations. Such strategic approach of HRM ensures that the macro concerns of the business for the future needs like quality, culture, values, commitment, skill development, etc. The evolving nature of the business needs a continuous retraining and development effort to boost its employee morale and their skills to be adequately capable of managing the future challenges. This report would concentrate of Training and Development (T&D) in business to express its strategic importance in business as well as its ability to develop the qualities needed for a successfully sustained business effort. The organization discussed in this context is Honda motors which have come a long way since its inception to be one of the major players in the international car business. Hence, the issue of human capital development, which is an integral part of HR functions in business, is being discussed in this report.
The strategic aspect of HR is immense in business as it deals with manpower, which is the key behind business competence and market development. Hence, the business can develop the needful with a strategic outlook, where it can accommodate the needed changes with effective manpower development. The T&D initiatives are taken by the management where HR is the key facilitator. The Human Resource department does the stakeholder’s assembly for the same, and the post-training evaluation too is done by them. This gives the business a great leap ahead if the T&D processes are well followed, in the competitive market and develop long-term sustainability and growth. Hence, the strategic aspect of T&D in HR activities serves as the facilitator between business objective, skills, and market development.