The Role of Educational Institutions in New Business Trends Essay

Jon-Arild Johannessen, a professor of Management and Innovation at Harstad University and Bjà ¸rn Olsen, a professor of Management and Organizational Behaviour at Bodà ¸ Graduate School of Business, Norway (2010) asserted â€Å"with this economic landscape, knowledge itself became a key factor of production—specifically, knowledge related to identifying and exploiting new ways to establish temporary competitive advantage† (p. 502). However, consider today’s company that conducts and performs business in a global level. Under globalization the environment also creates a higher level of competition in business. Therefore, how such a company enable itself to win in at business in the global game. A company needs accurate information for analyzing and evaluating business trends and the competitive environment in such markets for producing the right decision. Meanwhile, such a company needs talents who obtain leadership skills to play the role of decision-making. A s a result, educational institutions may need to prepare graduates to be able to use information effectively relevant to business strategy. Accordingly, these new business trends would affect a company’s strategy in human resources management, especially in the area of staffing. Because the new business strategy requires the use of these elements for achieving results, such as information, knowledge, and competence combined with technology, which focuses on the customer (customer centric) (Johannessen & Olsen, 2010). Meanwhile, the new business strategy would require certain personal talents as a leadership to use those elements to perform corporate tasks. Consider the elements of the new business trends that function as the business process, which identifies talents in using an in... ...alents to be ready for business practices. Works Cited Badke, W. (2009). How we failed the net generation. Online, 33(4), pp. 47-49. Retrieved from EBSCOhost database. doi: 2010356030 Johannessen, J., & Olsen, B. (2010). The future of value creation and innovation: Aspacts of a theory of value creation and innovation in a global knowledge economy. International Journal of Information Management, 30(6), pp. 502-511. Retrieved from Science Direct database. doi: 10.1016/j.ijinfomgt.2010.03.007 Rusell, P. (2009). Why universities need information literacy now more than ever. Feliciter, 55(3), pp. 92-94. Retrieved from EBSCOhost database. doi: 41553415 Turusheva, L. (2009). Students’ information competence and its importance for life-long education. Problem of Education in the 21st Century, 12, pp. 126-132. Retrieved from EBSCOhost database. doi: 42742862