The learning organization

Organizations have to develop new operating models and adopt new management techniques to meet challenges such as globalization, higher customer expectations, greater competitive pressures, and developments in technology. One of the key organizational development techniques that an organization can use in order to gain a competitive advantage is to transform itself into a learning organization. Financial institutions can gain a competitive edge in the marketplace by creating learning cultures within their organizations. The organization that will be successful in the future will be the one that discovers how to tap people's commitment and capacity to learn at all levels. An organization will gain substantial competitive advantage by being able to learn faster than its competitors. The business environment is becoming more competitive and increasingly changeable. For financial institutions to thrive they must meet this double challenge and find ways of making their businesses more competitive and able to adapt to rapid changes. A learning organization is adaptable and flexible; ethically aware; focuses its resources on training and development; listens to all its staff; and acts like a single unit. The leaders of such organizations are stewards, teachers, and facilitators.