Role of Professional Development Skill for Operational Excellence in Context to Financial Sector in Bhopal and Indore Region

Abstract

To survive and grow in the marketplace, financial sector organizations needed to achieve operational excellence, resulting in greater customer satisfaction, lower operating costs, higher shareholder value, economies of scale, and more sustainable organization. This requires a professional and competent employee. In India, many non-multinational companies do not meet the training needs of their employees. In the end, there is a gap in the skills needed to achieve operational excellence in terms of acquired skills. The studies show that most of the Financial sector organizations being medium to large scale organizations are arranging various Professional development programs like Training and Development, certification programs, Higher education opportunities for skill enhancement of their employees. But very few studies have been done which try to find out the impact of these Professional development programs arranged by organizations on their employees with respect to achieving Operational Excellence. newlineCompetition is a core value that evolution itself is based on. As seen in the animal kingdom it has realized into fights between different species, interspecies, genders for domination as well as for procreation. This can be transferred to the current organizational ecosystem. There is always a sense of competitions among organizations in the business world. The prize here is customer base, confidence, investors etc. Operations excellence allows these organizations to have a say, to lead in achieving this objective with a display of greater efficiency. A philosophy comprising of leadership, organizational teamwork, problem-solving allowing a continuous development throughout all the sectors within an organization with a focus on the customer problems, their needs, a process to empower their human resource, and increasing the efficiency of their existing organizational programs in the process in operational excellence. newlineOperational excellence since inception has been an important tool to gain competitiveness in various