Higher education institutions need to unpack the link between education, employability and entrepreneurship
It is axiomatic to state that business models, across all sectors of the economy, are being fundamentally disrupted. From the pervasive use of exponential technologies, the rise of smart machines and artificial intelligence, shifting demographics, increased market transparency, limitless individual choices and consumer sophistication – their structural impacts are clear to see. The confluence of the foregoing factors is the key driver of the transformation and disruption of business models.
Amidst this myriad of challenges facing modern businesses, one of the key challenges is to unlock value creation by finding the right balance of technology, talent and human connection. The current high levels of graduate unemployment is one sure sign that this balance remains out of kilter. Current and future participants in the labour market must, therefore, of necessity, possess in-demand skills and importantly, a large appetite and inclination to learn new skills in order to become and stay employable in a meaningful and sustained manner throughout their careers.
Helping the workforce to adapt to this fast-changing world of work is the defining labour market challenge of our time. Given the enormous responsibility that higher education thus carries in this context, responsible and responsive leadership is required from academic leaders and their institutions to build an enduring link between skills development, employability and enterprise development. As a consequence, preparing students with a set of disciplinary skills in a particular degree, is, at best, grossly inadequate in this context…
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