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Globalization Of Higher Education Essay

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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 in recent facet, universities have also move away from basic research as a public good towards a profit generating organizations having targeted customers with sales price of the products. The initiative to walk from a non-profit …show more content…

Higher education may not be fruitful all the way without inducing R&D environment. The importance of R&D is understood as also endorsed by endogenous economic growth theory and knowledge based economy phenomenon. The contribution of R&D in economic growth of a country is manifested mainly by developed countries while developing countries are trying hard to groom in innovative products and services through investment in R&D for sustainable economic growth. R&D, innovation and knowledge workers are elementary indicators for the economic growth by becoming knowledge based economy (Raspe & Van Oort,

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