Training and development are important tools used to increase your return on your most important asset … people. However, many leaders commonly use these words interchangeably. It is important to understand that training is a component of development but does not necessarily lead to it. Often training is seen as a primary tool in development and many times is not effective. It is important to discern the difference because the largest investment/expense we make in every business is in people, and if we develop that investment properly we can maximize our return on investment.