"Sharpening the saw" is very important to be efficient and effective. Employees need to be trained or sharpened to perform their roles better at present and in future.
Organizational effectiveness depends upon the performance of the people within the organization. Thus conscious efforts need to be provided for the development of employees to reach at performance standards.
It is the dream of every CEO to have the best people in their teams. But the practical constraints in that are, first, there are'nt enough of the very best people around. Second, it is not very easy to get them. Third, one has to pay them a huge amount and lastly they may not stay long enough. So the idea that one is going to get the very best people to run one's business is not very realistic. The alternative is if we can not get the very best people, then we get the very best out of the people we have.
It is possible to facilitate the above process using state-of-art in behavioural science technology which benefits both organization as well as employees. The smartest decision in these challenging times would be to make use of this; the returns far out-weigh the costs of undertaking organizational development.