Managing education involves empowered people for a globalised world of business and commerce. In today’s world, business is constantly changing, becoming more complex, more integrated, and more interdependent. Businesses are no longer insulated from international competition and the business environment is no longer dominated by large scale manufacturing. As Robert Murdoch of News Corp remarked, “the world is changing very fast; big will not beat the small anymore; it will be the fast beating the slow.” The dynamic revolution in macro factors of globalisation has been caused by (a) decline in the barriers to free flow of goods, services, and capital (b) technological changes in communication, information processing, and transportation and (c) social ethics and concern for protection of the environment in an arena of cross-border culture.
To succeed and grow in this scenario of paradigm shift, our focus should be on the strategies we adopt to meet the global challenges. To help live in knowledge, in discriminative understanding of things and beings, and in imbibing the core values of life educational institutions should reach beyond the horizon of the academics. As the famous Chinese philosopher, Confucius said, “don’t adjust the goals; adjust the action steps.” Hence, educational institutions offering business education should formulate and evolve strategies for excellence to meet the challenges of tomorrow. |
