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Bring Out the Need for On-the-job-training for a Person. - Economics

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प्रश्न

Bring out the need for on-the-job-training for a person.

संक्षेप में उत्तर

उत्तर

Training refers to the act of acquiring skills, knowledge and competency required to perform a particular job efficiently and effectively. On-the-job training is the most effective kind of training to a trainee, imparting him the technical skills and know-how at the actual work site. In this type of training, a trainee is assisted (or hands on) and trained by a trainer (usually by an experienced employee), when the trainee is actually doing the job. This helps the trainee not only to acquire the theoretical and practical skills simultaneously but also enables him to learn from the experiences of his trainer, thereby, can increase his efficiency and productivity. This is the most common type of training programs because the returns in terms of increased productivity far exceed the cost of the training. Thus, the expenditures on such training improve the quality of human capital by enhancing its productivity, efficiency and income earning capacity.

The need for on the job training has been highlighted in the following points:

i. On-the-job training is the most common method to train freshers or new employees.

ii. This type of training helps the trainee to acquire the theoretical and practical skills simultaneously.

iii. It enables the person to absorb values, norms and standards of an organisation within the organisation because the employee sees them in everyday action.

iv. As it is done under the supervision of a skilled or experienced worker, the trainee can learn from the experiences of the supervisor.

v. It is a cost efficient method as the benefits accruing in terms of higher productivity outweigh the expenditure incurred on such training.

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Sources of Human Capital
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अध्याय 5: Human Capital Formation in India - Exercise [पृष्ठ ९७]

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एनसीईआरटी Economics - Indian Economic Development [English] Class 12
अध्याय 5 Human Capital Formation in India
Exercise | Q 15 | पृष्ठ ९७

संबंधित प्रश्न

Discuss the following as a source of human capital formation

Health infrastructure


Discuss the following as a source of human capital formation

Expenditure on migration.


Explain how investment in education stimulates economic growth.


Trace the relationship between human capital and economic growth.


______ five-year plan recognized the importance of human capital.


Preventive medicine includes medical practices that are designed to avoid or avert diseases.


Which of the following institutes comes under the health sector?


Match the situations given in Column I with their respective implications given in Column II:

  Column I   Column II
A Migration i Reduced in per capita economic growth
B Low level of academic standards ii An imbalance between demand and supply of human resource
C Population- High Growth rate iii Brain Drain
D Lack of proper manpower planning iv The mismatch between required skill and academic standards

Read the given case study and answer the questions

Traditional economic theory viewed capital in physical terms only. Economists during the late 1950s based on the aggregate production function found that the standard measures of simple labour and physical capital were incapable of explaining adequately the rapid post-war growth. Speculations on what was missing were diverse. Some argued that the principal explanation lays in the lack of appropriate adjustments for improvement in the quality of physical capital and the embodiment of technical progress in that capital. Others suggested that the most important omission pertains to the organisational advance or a vaguely specified human capital. The residual of unexplained growth was at first ascribed to technology by Solow, but later, the residual was defined to include improvements in the quality of capital can the investment in human beings. Human capital is formed with improvement in skills education. Improved health and education is merit as well as a public good and is associated with a large number of externalities which are often indirect, indivisible and non-quantifiable.

In the context of the above paragraph, the ‘residual’ factor include ______.


When does economic growth leads to economic development?


Which of the following statements are correct

Statement 1: Migration is the shifting of a person from one place to another with the intention of settling, permanently or temporarily in a new location.

Statement 2: The movement is often over long distances and from one country to another.

Statement. 3: When people migrate from one country to another country it is known as external migration.


What are the major sources of human capital in a country? 


The newly emerging jobs are found mostly in the ______ sector.


Consider the following statements:

Statement 1: Resources or factors of production can be natural, human, capital, and entrepreneurial.

Statement 2: An economy must make a choice of the wants which are important for the economy.


Out of following one is non-renewable source:


Benefits of physical capital accrue only to private entities, whereas human capital provides private as well as ______ benefits.


Identify, which of the following are associated with the problem of human capital formation in India?

  1. Brain drain
  2. Low academic standards
  3. Rising population
  4. Changes in social outlook

State with valid reason whether the following statement is true or false:

“Higher productivity and production are the outcome of investment in human resources.” 


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