Learning Theory

Notwithstanding the strides chalked by the Ghanaian banking sector, banking penetration still leaves much to be desired. Bawumia (2010) publicised the unbanked population as 70% and Wampah (2014) disclosed the unbanked population ratio as exceeding 80% with banking operations largely urbanised. Strategising to rope in more of the unbanked populace is also challenged by the low financial literacy rate. The rather low permeation of banks to the rural areas implies a significant unexploited segment to mobilise deposits and augment the profitability of the system. Ackah and Asiamah (2014) documented that the high cost of credit, high lending rate and low credit availability to the private sector have bedevilled the sector. Lending rate averaged 28.51% from 2005 to 2016 having attained the highest of 42.84% in August 2016 and lowest of 21.24% in March 2008. High interest rate spreads averaged 23.01% between 2009 and 2014 as compared to a sub-Saharan average of 8.57% in 2012 (Adoah, 2015; Garr & Kyereboah, 2013; Mansah & Abor, 2013; tradingeconomics.com). Ghanaian banks are challenged with balancing risk management and growth. Lack of structures to ascertain veracity of identification and credit history of borrowers exposes the industry to fraud. The policy to gather detailed customer information upon opening of accounts has not sufficed in forestalling banking fraud. Boateng, Boateng and Acquah (2014) asserted annual loss to bank fraud run into millions of Ghana cedis.

Opportunities

The establishment of foreign-owned banks into Ghanaian banking with the prerequisite to bring into Ghana 60% of initial capital in foreign convertible currency creates the platform for injection of foreign capital to stimulate economic development (Tetteh, 2014). Foreign-owned banks form approximately 52% of the total number of banks as at September 2016. Incorporating technology in service delivery removes tailbacks of accessing banking services and offers a plethora of media such as internet and mobile banking, real-time settlement and ATMs for banks to innovate products and services and expand customer-base (Domeher, Frimpong & Appiah, 2014). Kumar (2011) recommended that businesses with a goal to revamp customer confid

Sample Solution

Learning theory is an important topic in workplace training today because it helps us to understand the best methods and techniques for optimal learning. It focuses on how knowledge and skills are acquired, retained, and used by individuals, as well as how environmental contexts influence learning outcomes (Zhao & Yin., 2014). For example, there are several theories of learning such as behaviorism which looks at classical conditioning or operant conditioning through reinforcement systems that can be beneficial when employed within a given organizational context. Additionally, understanding human nature from a cognitive perspective allows trainers to better assess individual needs through different models of intelligence such as Gardner’s Multiple Intelligences Theory or Vygotsky's Zone of Proximal Development (VPD). Furthermore, social constructivist approaches allow trainers the opportunity to create meaningful experiences while engaging learners with each other so they learn more effectively together (Fink et al., 2019). Learning theory provides valuable insight into the best ways we can teach employees new concepts efficiently and effectively in order for them to excel in their positions.