Oct 13 - 19, 2008


World scenario is changing. In fact change is the only constant factor. WTO regime is now covering 149 countries. Economic Unions are emerging as a powerfully institutionalized arrangement for accelerating economic development. Regional blocks have grown all over the World. Cross border transactions relating to commerce, trade, investment, marketing, international business etc. are being pursued through digital convergence and the whole world is being run through e-globalized approach. In this background there is a strong rationale for developing a framework for educational reforms in the 21st century. For this piece, analysis and suggestions have been offered in business education area.


This paper consists of: Approaches to Educational Reforms, IT Applications, and Suggested Framework. These are reviewed below now.


Two approaches have been suggested for paving the way for educational reforms for the twenty first century. The first approach emphasizes three dimensions. These include (1) Acquiring knowledge of other nations (2) Learning other popular languages for expanding the horizons of international trade and investments (3) Understanding cultures and customs of other nations. These aspects need to be interwoven into curriculum so that the challenges of 21st century can be successfully met. However for further strengthening logistics to reforms for education in the 21st century, a holistic approach is needed. This requires operationalising four aspects. These include: (1) Broadening the scope and extent of financial and technical assistance by multilateral agencies and development partners. (2) Study of students abroad, particularly in higher education in demand driven areas. (3) Technology transfer from available originating sources to places where technologies are required. (4) Institutionalized arrangements for sharing foreign experiences in business schools education.


For IT application, knowledge needs to be shared with business graduates. They need not equip themselves with the level of education which BS/MS It specialists need. Four objectives be pursued by business graduates relating to IT. These include: equipping business graduates with broad knowledge and understanding of basic concepts of computer identifying potential areas of using IT, planning for IT projects and managing their development and monitoring their implementation. Eight suggested programs include: system analysis & design, programming analysis, micro-computer applications, office automation, operating system (DOS, Unix, Window, Linux), software packages, 4 GLs and MIS.


An inspirational understanding is needed to grow that all nations must stay in the mainstream. Today's world is borderless from economic view point. While counties in the world are going to maintain their political sovereignty, cross border trade, investments, services are taking place through digital devices. Every aspect is through e-globalization. The growth of internet in the last decade of 20th century and ever growing interactive we based activities are instrumental in keeping nations together on global basis. Logistically every nation must prepare one selves in this respect. Meaningful dialogue amongst nations is being facilitated via digital congruence through e-globalization. While the invention of railway reduced the distance, digital revolution has eliminated the distance through internet. Email has grown as an effective channel of communication from the view point of cost and timeliness. For strengthening external sector, logistics needs to be firmed up for expanding global trade. Based on World Bank Report for 2007, Global trade for 2005 was $ 21.04 trillion. New breed of innovative and aggressive exporters and importers are needed to be developed by business schools. Accordingly, new stream of specialization in international business be introduced as a support factor for meeting the educational challenges of 21st century. A holistic approach with broad based specialization is the crying need to offer more and more courses in hospitality management, risk management, corporate governance, internal auditing, organizational controls, organizational business, e-marketing, e-trading, e-controls, e-learning, e-banking, e-insurance, e-finance, e-procurement, e-personnel, e-investment and other demand driven courses. Based on these suggestions, changes in curriculum are challenges before business schools throughout the world. These should be appropriately addressed immediately as a positive response to implementing the spirit of educational reforms for the 21st century. Strong logistics to above two significant aspects need to be given top priority. The first consists of creating awareness relating to educational reforms for 21st century via digital convergence and e-globalization. Secondly change management should be operationalised. These aspect need to be pursued as a continuing agenda.