Kolb's Experiential Learning Theory
Master the Product before You Present! It is important for the banks to ensure that every banking employee gain a firsthand experience of the new banking products and applications which will allow them promote the product and to cater the customer queries. When it comes to experiencing the emerging technological banking products, using Kolb's Experiential Learning Theory can be considered as a useful strategy to reduce employee incompetence in banking. Concrete experience, observations and reflection, formation of abstract concepts and generalizations and testing implications of concepts in new situations are all crucial components of learning, according to Kolb's theory. The following are some applications for each step of Kolb's model that pertain to employee training on banking products: Concrete Experience : Employees should engage in hands-on experiences with new technological banking products. This could involve simulated training or real-life interactions with the ba...
