business fundamentals

 

Overview:

Business Fundamentals is a comprehensive two-day program designed for member-facing employees to build a strong foundation in managing business accounts. Participants learn how to identify required documentation, recognize potential fraud indicators, effectively open accounts in our system, and how to converse with customers about business accounts. Our organization identified a need to develop training on business fundamentals due to recurring compliance errors. It became evident that there was a significant knowledge and skills gap in fundamental business information and procedural understanding.​

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Design & Process:

We utilized the ADDIE model to guide our process. A kick-off call with our SMEs was the first step in this process to analyze the scope and the current knowledge gap. We also talked to current managers and employees to further analyze what areas need to be focused on. We then created a general outline of what topics and processes needed to be covered in the training. This helped us create an iterative plan for how we were going to present the material to our learners.

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Final Product:

Our final product is a robust 2-day ILT training with an interactive Rise course that is completed as prework. The prework includes activities, videos with relatable concepts, and a quiz (pictured above). For example, when we introduce the topic of a sole proprietorship, we created a Vyond video about a man named Sam who sells socks. He then grows his business and turns it into an LLC called Sam’s Snazzy Socks. It includes relatable content that helps break down complex concepts. This prework helps learners develop a foundational understanding that is further developed in the 2-day class. 

 

Our 2-day ILT training is an interactive and hands-on class. The learning is scaffolded to build upon the prework and further develop their understanding. Once a foundation is built around business accounts, the class progresses into procedures and how to open accounts from start to finish without errors. The training also includes necessary soft skills when speaking with customers such as how to uncover their business needs, how to actively listen, and how to provide a positive experience. Some of the interactive activities of the class include: 

• Kahoots

• A note catcher

• Partner activities 

• Creating their own business structure and pitching it

• Discussion questions

• Videos 

• Hands on practice in the training system (opening mock accounts) 

• Role playing with a customer in the training system (opening accounts while having conversations with a mock customer) 

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*The images above are screenshots of the prework and a few session slides. Due to the proprietary nature of the information, I’m unable to share further screenshots related to the company’s operations. 

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Results:
In order to assess the effectiveness of the class, we implemented the Kirkpatrick model. For a Level I evaluation, we have a post-class survey that all participants take. To date, we average a five out of five score for the overall class rating. For a Level II evaluation, we have a skills test that all participants complete at the end of training. For this, the participants individually demonstrate opening an account from start to finish in front of the instructor. They are then scored in each of the categories and either receive a Pass or Fail score. After six months of the implementation of Business Fundamentals, the compliance errors have significantly decreased. We are seeing less errors when opening accounts and as a result, the compliance team does not have to step in as often.   

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Stakeholder Feedback:

“Roshi did a great job of taking ideas and turning them into tangible learning lessons. Roshi also was always open to feedback while being very proactive in her approach to the project. In addition, Roshi would make immediate changes if needed and never had to be asked twice. I knew that Roshi would take action and not let anything slip through the cracks.”

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Tools Used:

Rise 
Vyond 
Powerpoint 
Canva