DescriptionThe 2008 crisis was not the first one, and certainly will be not the last one. Substantial differences regarding a country’s competitiveness influence the ability to overcome economic downturns. National competitiveness represents a complex phenomenon, out of which one major criterion is intellectual capital and education. The authors investigate the issue of quality of education, particularly in business schools, as a major predecessor of business success. This can be further aggregated towards the general ability of a national economy to function in time of crises and, as much as possible, protect resources and its potentials. Senior year students from four business schools in Austria, Croatia, Serbia and USA were approached in attempt to link their perception of educational quality, international exposure and perception of competitiveness with their optimism/pessimism related to the ability to compete in global markets, as well as employment expectations and the general availability of opportunities for young, educated people. The Global Competitiveness Report, by World Economic Forum, was used as a benchmark in measuring respective countries’ position in the global marketplace. Weaker economies show less satisfaction with educational quality and feel less competent than their peers in more developed nations, entering into spiral of pessimism, followed by high brain-drain, thus further eroding intellectual capital and potential for development and business success. Policymakers and business school management should put strategic emphasis in building quality of (business) education as a source of competitive advantage and ability to overcome any future economic downturn.
|Period||20 Apr 2012|
|Event title||17th International Scientific Conference SM2011: Strategic Management and Decision Support Systems, Subotica-Palic: null|