What Globalization Means for the Education Sector: How Do We Cater to Emerging Needs?

Abstract

The global economy has been transformed dramatically in the period following the demise of the Soviet Union. What we now see is a shift from the North to the South, the emergence of Asia, a pace of liberalization that is unprecedented and a recalibration of trade flows that had not been seen earlier. Investments move seamlessly across continents as sentiment shifts happen almost overnight and trace emerging patterns of growth and development. What this has resulted in is a pressure on the services sector, more importantly on the knowledge economy to provide the human resource required in this changed world. With the manufacturing sector changed beyond recognition, with transportation and communication getting revolutionized and a services sector that does not respect legacy and tradition, the world demands a rethinking in skilling and training. How has the academic community responded to these challenges? What is it about globalization that needs to be examined and taught? What do global managers need to watch out for? And are we imparting these skills in our institutions?