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Concept of E-learning in Organisations - Essay
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Added on 2020-01-23
Concept of E-learning in Organisations - Essay
Added on 2020-01-23
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E-LEARNING ANALYSIS AT BANK OF AMERICA MERRILLLYNCH (BAML)STUDENT NAME:STUDENT ID:UNIVERSITY:
Introduction:This essay aims to understand the concept of e-learning used in organisations, for aiding learningand development in its employees. In this essay, the learning practices used in Bank of AmericaMerrill Lynch (BAML) have been critically analysed, followed by the suggestion ofrecommendations and understanding of limitations BAML may face in implementing theseimprovements.E-learning is the method of learning which is used in organisations, by the use of electronictechnologies such as mobile and internet, so as to enable the learning and understanding about acertain topic (Carliner and Patti, 2016, p.1). BAML utilizes E-learning in its learning approaches,in order to aid its employees regarding their learning and development as competent employees.Learning Approaches at Bank of America Merrill Lynch (BAML): Bank of America Merrill Lynch (BAML) utilizes E-learning approach by using traditionaland cutting-edge tools and resources (bofaml.com 2016). It has been seen that various learningapproaches are used by organisations, of which the approach of e-learning is raising ahead(CIPD, 2015, p.3). BAML promotes e-learning practices, so as to enable learning via onlinecourses, interactive web videos, interactive audios, audio and video slideshows, webinars, andphoto slideshows. The company uses this learning method, to foster group interaction amongstthe trainer and the trainees, explaining them about the company, their job roles. Various learningmodules, such as the leadership module is utilised by the organization, which enables them todevelop the leadership qualities in their employees (Haythornthwaite et al. 2016, p.2). Thisproves to be beneficial for the firm and the employees since it makes them competent enough tosustain in the financial market.
Figure 1: E-Learning at Bank of America Merrill Lynch(Source: Created by Author) E-learning method used can be any of the three types - interactive, collaborative anddistributive. BAML utilizes the interactive approach of e-learning, where the trainer has toparticipate in training the trainee, on a voluntary basis (Hrtoňová et al. 2015, p.873). It has beenseen that the trainers available at BAML participate voluntarily, promoting the career growth ofthe novice employees. This is a vital factor, which is considered at BAML since the availabilityof the trainer impact the learning and development of the employee. Further, the organizationunderstands that the concept of implementing e-learning is to allow learning among thoseemployees who have a flexible schedule (Hoyt, 2013, p.83). The organization does this byapplying the strategy of planned guidance, where the employees are explained about the scopeof each online course offered, so as to promote the understanding of various banking conceptslike stocks, investments, bonds, debit and credit.
This allows BAML to develop the courses for the employees from the grass root level, as pertheir level of understanding. This has been due to globalization and advanced technology, whichhas enabled the world to come closer and increased the scope of a gain of knowledge. TheBAML therefore uses an analytical framework, helping them to understand the level of conceptunderstood in the mind of their employees, hence, designing a course for the employee (Holdenand Stewart, 2013, p.212). This is enhanced by the inclusion of internal resources along withexternal expertise. These are provided through asynchronous e-learning, where they areprovided with interactive audios and videos, and photo slideshows showing the graphs ofcompany's status. This has proved to be beneficial for the company since it provides them withcompetent employees. However, it has been noted that rate of learning varies per employee sinceit depends on, technologies and modules used, availability of the trainer and attitude of thetrainee in regard to the learning programme (Mills and Kelly, 2012, p.103).Employee Learning and Development at Bank of America Merrill Lynch (BAML):The concept of e-learning is to enable learning on the basis of two theories - theory of plannedbehaviour and theory of instructional design. BAML applies the two theories in order to lead topositive learning and development among their employees (Ong et al. 2016, p.19). Since BAMLuses an interactive e-learning approach, it lets the trainer focus on the learning needs andrequirements of the trainee. This enables the employees to learn better, having a positive impacton their ability to learn and develop skills, as per the requirement of their industry (Silberman etal. 2015, p.1). Moreover, the traditional and cutting edge resources provided at BAML help theemployees to get the learning material for themselves, than going to the learning centre to gettrained for the work.
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