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BUSINESS M 23 POST GRADUATE DIPLOMA IN BUSINESS The assignment has 4 questions which are based on the case study and the study module provided.QUESTION 1 (50)Individuals and organisations are entering an era where adapting to a developing learning society and a knowledge economy forge the way for many organisations.In the case attaced, Finland has realised the benefits of a knowledge-based economy. Bearing this in mind:1.1 Critically discuss how effective HRD practices and an effective HRD strategy in the workplace can provide the levers of control for the future of a growing knowledge-economy in countries like South Africa, Russia and the country in which you reside. (The response must be 1500 words required, Please discuss the importance of HR Development Strategy and link to HRD practices as indicated in the module. Explain what is knowledge economy. How does HRD strategy link to the growth of a knowledge economy.)1.2 Discuss the impact of linking HRD to the key strategic drivers of an organisation’s macro- and micro-environment in order to deliver the advantageous returns of HRD.( The response must be 1000 words required, Please discuss, Strategic HRD, determine what are the key strategic drivers of the organisations micro and macro environment. What importance would HRD have on these strategic drivers, what are the advantages of HRD return on investment)QUESTION 2In the case of South Africa, which is a developing African country, skills development legislation has fundamentally changed the face of education and training. In light of this statement:2.1 Critically discuss the reconceptualisation and repositioning of HRD as a strategic partner in the context of South Africa as a developing African country.(In your answer include a discussion on the significance of the Skills Development Act and the Skills Development Strategy) (The response must be 1250 words required. Please include the value of HRD in a developing economy and link this to the application of the skills development at and Skills Dev. strategy of South Africa. Also discuss, what is the reconceptulising and re positioning of HRD.2.2 Considering the recent trends and developments in the field of HRD both nationally and internationally, as evidenced in the case study above, critically argue whether it would be justifiable to gain commitment towards developing a country’s human capital, by making it a legal obligation for all employers to increase competency levels in the workforce, as in the case of South Africa. (The response must be 1250 words required, please discuss the ROI, and the importance of legislation in promoting training and development. Also include the importance and significance of South African legislation.