Globalization, eminence of human capital, access to higher education, high standards of quality research, creativity, innovation and entrepreneurship with cost and productivity efficiency have emerged the revitalization of higher education system. A recent study (Olivares and Wetzel, 2014) to analyze the universities efficiency with relevant to economies of scale and scope, it is observed that globalization and competitive environment has induced the public institutes of higher education to utilize their resources more efficiently by expanding their operations and activities to broader fields. Universities role no doubt has evolved over time. One aspect of this transformation is the social oriented perspective in which; teaching to all, education as a public good and every individual has social right to access education are foresight. Later on a second phase arrived; the promotion of research culture becomes the direction of education hub by focusing on research oriented institutes for enhancing the research and development.
However, it is also important to consider the varying degrees in the value of a liberal arts education across the globe. This is dependent on the different backgrounds, cultures and conditions. In the case study of Singapore, competitiveness is a known and common trait. This stemmed from the government’s continued and persistent emphasis on progress and development since the early days of independence. As such, people looked towards avenues which could bring about tangible results such as economic growth hence placing importance on the Science.
INTRODUCTION The main purpose of this thesis is to demonstrate the role of education in economic growth and development of nations and the effect of primary, secondary, higher overall any kind of education on labor productivity, poverty rate, international trade, efficient technology, health, income distribution and family structure. Education is basis for economic growth and development, the groundwork on which much of our social and economic prosperity is built. It is the key to increasing economic productivity and social consistency. By increasing the efficiency and value of labor force, it helps to fight with poverty. It boost the overall productivity and intellect of the labor force.
The company aimed also to benefiting from economies of scale. The cohesion between the structure of the company and the strategy applied is very crucial. The structure aligns the company with the strategy it wishes to implement, and along with the companies control systems and culture, will utilize the value-chain capabilities and competencies, and facilitate increased profitability, competitiveness and superior return on investment (Henderson, 1993). Procter and Gamble identified the rapid increase in globalization and changed their business strategy and the company’s structure in order to increase their exposure in many countries. This was to help it benefit from economies of scale and to remain competitive internationally.
This literature review represents a challenging review to the conventional wisdom. Economic cooperation is an important tool to strengthen the economic and national consciousness. A nation is a group of people who feel they form a distinct community bounded by shared culture, history, territory, ancestry and destiny. Nationalism is an ideology seeking to establish or promote unity, identity and autonomy.
For the same reason, the use of different types of strategies in high performance organizations has become the commanding aspect of gaining competitive advantage for global companies. Broadly, the utilization of various truthfully strategy implementation strategies depends on the evaluation of content based and process based approaches during the formation process of strategic action. These approaches come up with planning and learning schools. Planning truthfully strategy implementation, which is leading
The positive relationship between economic development and literacy levels and the impact of investment in education on economic growth are well established. The transiting of the world towards a knowledge based economy is adding to the importance of human resources in general, and of education in particular. Human resources are poised to commend an increasingly important role in the balance of world economics and, hence, political power. Literacy is linked to economic success as literacy levels help determines the kind of jobs people find, the salaries they make and their ability to upgrade their work skills. It is a big factor in the economic success of a
The economic competition forced by the globalization is obviously the main motive for the reshaping the education systems in many countries. Global information and communication technologies, mass media and international NGOs contribute to reforms in education directly or indirectly. International organizations inflict their policy interests, objectives and philosophies to developing countries through conditionality related to lending. The discourses of knowledge economy, life-long learning, international testing and technology are found to be the main concern of education policy in developing nations; these have thus become in effect globalized education policy
Investing in education increases human capital per worker. • It is about enhancing the degree to which schooling facilitates the acquisition of professional skills and fosters cognitive skills that foster development. • It is about increasing the innovative capacity of the economy – knowledge of new technologies, products, and processes that promotes
1.0 Introduction Across the globe there is a generally accepted theory that meaningful contributions made to higher education by all relevant stakeholders should improve a nation's economic competitiveness and knowledge base. Education yields substantial returns to the individual in terms of earning and employability and significant gains in economic growth and wider social benefits Knight & Yorke (2003). There has been an industry change in the past few decades, where "employers are proclaiming the need for highly educated and skilled people if their businesses are to be successful in a rapidly evolving global economy" Harvey 2000, p.109). In terms of the Human Capital theory which advocates investment be made in education. This interest