The main reason why people go into debt and spend many years of their life studying is in order to be able to qualify for a better-paid job. However, this is not the only role that business has in the field of education.
For-profit companies are the beating heart of almost all economies around the world. Thus, they can influence the education opportunities as well as the actual educational institutions.
Underneath, we will explore the question of what is the role of business in education?
Alternatives to Higher Education.
Going to higher education institutions is not the only option to secure a lucrative career for yourself. In order to compete in high-skill industries. Companies now offer free education on the job. These opportunities can come in the form of apprenticeships where you gain expertise through actually working on the job.
Alternatively, based on the circumstances, some firms will also fund a part or all of the tuition fees. Not all skills can adequately be certified just through experience. An example of this can be nursing. Many private hospitals give the ability for trainees to work for them. While at the same time funding their formal education.
In this way, students can gain a valuable degree without the need to attend a university full-time. This is beneficial for individuals that may not be too academic. As well as drastically reducing the fees that you will need to pay.
Work Experience.
Even once you have received your degree. Many companies will be looking for employees that have a number of years of experience working in that role. The reason for this is that there is a major difference between being formally qualified and actually having working experience.
To gain the work experience you, of course, have to work for a company. For-profit organizations now widely offer lower-paid positions for inexperienced workers. In this way, you can now practice your skills while also being paid for them. Once you have worked a number of years.
You then have the option to continue working for your current firm at a higher salary. Or alternatively, you can also seek a job at another employer. Now that you have gained in-work experience, you will find it much easier to find work.
Giving People a Second Chance.
Not everyone is fortunate in life. Some individuals need a helping hand when no one else will give them a chance. Groups that will fit in this example include released prisoners, military veterans, and the homeless. Such groups will generally find it hard to gain quality employment or even quality apprenticeships.
Many large companies are now committing a percentage of their recruitment efforts towards helping those that need a second chance. These charitable initiatives ensure that individuals will be able to build valuable skills. These skills can then be used to secure a sustainable career.
In turn, reducing the risk of them turning to crime or antisocial behavior. Often, the risk of employing someone in such a charitable way can have huge benefits for the company. As they can potentially recruit a great employee that will stay at the company for a very long period of time.
Higher Quality Learning Institutions.
Private businesses can also include for-profit schools and universities. An interesting point worth taking a look at when considering what is the role of successful business in education are these for-profit educational institutions. Public education is a right in every country around the world. It is an effective way to raise the literacy levels in a nation.
A private school will charge the parents or guardians of the students in order for them to be able to attend. Thus, the institution will have the resources to provide a better education. Reasons for why the education will be better include, fewer students per teacher.
For example, rather than one teacher focusing on 30 students during one class. They can instead work with just 7 students at a time. Allowing for the teacher to be able to provide more effective tutoring to each attendee. Furthermore, these schools can also hire more experienced and better-educated teachers.
Such private educational establishments allow richer families to give their children a potential advantage. It can be fairly controversial, as individuals from poorer backgrounds may find it harder to compete when applying to university or even jobs.
Location of Universities.
There is actually a correlation between the location of universities and also where businesses are located. It is not a coincidence that most of the leading higher education institutions are based in large cities. This is because cities will naturally attract businesses and people to work in those businesses.
Major firms want to be close to universities, so they can benefit from the yearly outflow of graduates who will be looking to be hired. The companies are much more successful at hiring them. This is because the former students do not have to uproot from the location that they have been for many years.
Consumer of In-Demand Skills.
According to a study conducted by Pew Research. A total of 71% of employees were employed in private business sectors. Without a doubt, the biggest consumer of in-demand skills is businesses. For-profit companies are continuously competing with each other.
Ensuring that only the most efficient organizations succeed. Thanks to this, firms are able to offer the highest salaries to the most skilled and talented individuals in society.
More than likely, if you get a sought-after qualification, then you will be employed by a business. Therefore, you can thank the business world for providing and creating jobs for the nearly two million graduates just in the USA.
Research Collaboration.
What is the role of business in education is the query that we have been attempting to answer in this article. In the final point, we will discuss one of the most important aspects of this relationship. Universities conduct a lot of research.
It is where one of the largest proportions of their budgets goes every single year. In fact, it is how universities around the world are ranked. The top universities are the ones that produce the most cited research every year.
This research can then be used by businesses and aspiring entrepreneurs. This is one of the reasons why the famous Silicon Valley is home to so many tech startups. The high rate of research in this area of California gave rise to most of the world’s trillion-dollar tech companies. In fields such as computers, software, and other types of high-tech.
Read the article: What is a Business Philosophy and Why is it Needed?
