Final answer:
A bank is using a learning training cycle approach if it applies an iterative training process with evaluations at multiple levels, tailored to include required banking knowledge and skills such as the money multiplier formula and balance sheet analysis.
Step-by-step explanation:
To evaluate the extent to which a bank is using a learning training cycle approach, we should consider an iterative process that comprises various phases such as the Preparatory Phase, Implementation and Learning Phase, Program Evaluation Phase, and Development of Lessons Learned. This aligns well with the findings of Arthur, Bennett, Edens, and Bell's 2003 study, which underscore the effectiveness of training based on several types of measures including the employee's immediate response, learning outcomes, behavioral changes in job activities, and ultimate impact on productivity and profits.
In light of the learning objectives associated with banking, which include the use of the money multiplier formula, the creation of T-account balance sheets, and the evaluation of risks and benefits, we can posit that a bank using a learning training cycle would design its training programs to encompass these learning outcomes, alongside others like understanding open market operations, reserve requirements, and discount rates.
Furthermore, literature such as 'The Right Skills for the Job?' by Almeida, Behrman, and Robalino, and 'Microcredit Impacts' by Angelucci, Karlan, and Zinman, suggests that a well-structured training program which is regularly assessed and updated based on actual organizational needs and employee performance can be highly effective.