Introduction
Modern economic and business environment is characterized with diverse ideas and competitive working environment. Therein, becoming more competitive requires the ability of companies becoming more flexible within their ability to stimulate performance, productivity as well as strategic capacity. In pursuant of those objectives, companies require regular training as well as development of new ideas. Nonetheless, the sector of academia has little insight on the changing business environment and takes longer to catch up on the real world applications. In the interest of development of educational platform tailored to each business sector, the initialization of corporate universities became a necessity (El-Tannir, 2002). The institutions, physical or virtual attend to the needs of a company through provision of specific training and education. This paper there processes the need for corporate universities as applied within the business and economic environment.
The introduction of corporate universities in the traditional sense encompassed the need for companies to provide training to their employees and managers. The training was in the interest of the company to develop general skills pertinent to the operations of the company and their projects. Recently however, the purpose of the universities has shifted towards the development of solutions to imminent problems of the company. The evolution of the corporate universities attends to the strategic needs of the organization and companies to compete on a global scale. Therefore, the role of corporate universities is driven by various perspectives as different to companies and specific to particular projects (Prince, and Beaver, 2001). For instance, in response to specific need such as a corporate mergers, corporate universities are tasked with the responsibility of becoming a leadership development agent. In that mechanism, the organization is able to develop new tools for managers in the enhancement of leadership and strengthening internal management. In this perspective, corporate university becomes a catalyst to changes and management within the organization.
Delegate your assignment to our experts and they will do the rest.
Changing economic and business environment increase the need for change in the strategic vision of companies. Coupled with the need for profit, companies maintain the primary need to have a competitive edge against their competitors. While the acidic sector maintains a visionary role in development of new theories of engagement, their involvement is slow and irresponsive of immediate application to the changing needs of business on a global scale. The development of corporate universities therefore creates a bridge between real world application and academic advancement (Blass, 2005). For instance, in the development of new business opportunities, corporate universities act as the business research model of engagement as employees are ushered to new ideas.
In light of the position of corporate universities in the economic sphere, the model of their application is driven on three perspective models. First, their purpose is within implementation of the best practices within the corporation. Through time, organizations have developed methods, mechanisms as well as practices that are in line with the strategic vision and mission of the company. The purpose of corporate university becomes the propagation of those practices through training and earning throughout the organization’s employees and managers. Secondly, the introduction of new insights and ideas within the corporate management in response to the changing and shifting of the business environment. Recognition that the business environment is not static encourages the management of change through learning and training (Prince, and Beaver, 2001). The third perspective is driven by the recognition of the future of the company and organization. Through corporate learning, the universities are in a position to develop strategic direction as the organization explore opportunities that lie in the future. This model processes corporate universities as a mechanism of collection of ideas directed towards organisational sustainability.
References
Blass, E. (2005). The rise and rise of the corporate university. Journal of European Industrial Training , 29 (1), 58-74.
El-Tannir, A. A. (2002). The corporate university model for continuous learning, training and development. Education+ Training , 44 (2), 76-81.
Prince, C., & Beaver, G. (2001). The rise and rise of the corporate university: the emerging corporate learning agenda. The International Journal of Management Education , 1 (3), 17-26.
