What are the key components and contributing factors for effective feedback system for training programs within a field of business administration?

Digital transformation creates opportunities for easy result delivery and system implementation that clearly identifies motivation and drawbacks for everyone involved. To create an effective and engaging feedback system that helps monitor training programs and can be applied in various organizations – lecturers from the Department of Management of BA School of Business and Finance tested a new feedback method system with the intention to find the key components and contributing factors that also measures the performance of the quality of an educational products, organization goals and performance of participants (students) and lecturers involved in the process. Online survey methods, e-mail marketing tools and classical statistical methods in combination with machine learning algorithms were used. The main purpose of the feedback collection was to ensure high-level engagement in response collection-that demonstrates problems and positive aspects for a product of educational programs in the field of business administration and finance studies which are both relevant for entrepreneurial studies and knowledge gaining within any organization. The article is based on statistical methods and analyses contributing factors that managed to collect more than two-thirds of quality feedback responses which is a higher rate than usual rate in organizations involved. Overall, 197 respondent answers were analysed from three educational institutions with similar educational programs, with the same two lecturers performing at 11 different study group courses. As a result – both way two (lecturer-participant) or even three-sided (lecturer-organization and organizationstudent) feedback system can be widely integrated and applied in both private and public sector educational and commercial institutions for a purpose – to monitor progress towards the goal reach whether it is the entrepreneurial intention, evaluation of skills, quality or a practical use of a knowledge gained. Conclusions involve aspects of – what makes an educational product valuable in the eyes of a customer and target audience. Also-why the feedback is crucial and how it benefits the overall monitoring of the goal reach for the organization. In combination with digital transformation opportunities – the system can be implemented in any organization for the process evaluation of in-house or outsourced training programs objectively.