Why Building Future Leaders
How do we cultivate Future Leaders? How do we nurture individuals that are willing to go the extra mile that makes them unique? Whether you are a business organization, a football club, or a nation; we are all after the same thing: Having a leader that is capable of taking us to places we could only dream of.
Investment in human capital is critical in a k-economy. Human capital theory views education and as an investment that can yield social and economic returns. Economic growth and development are knowledge driven and human capital dependent. In the information age, knowledge is power. Education is recognized as being the single most important path to development and to limiting poverty. The k-economy is based on a paradigm that focuses on intellectual capital as a prime mover. With knowledge replacing physical and natural resources as the key ingredient in economic development, education and human resource development policies require rethinking.
The new world calls for a fresh kind of leadership, one that is deeply focused on a more positive, collaborative style of entrepreneurial behavior.
Successful innovation requires an abundance of talent and an environment to support it. The fast pace of change and an ever developing information age, are bringing a new paradigm on how nations encourage and promote innovation and creativity.
In business and economics, innovation is the catalyst to growth. With rapid advancements in transportation and communications over the past few decades, the old world concepts of factor endowments and comparative advantage which focused on an area’s unique inputs are outmoded for today’s global economy. Now, as Harvard economist Michael Porter points out competitive advantage, or the productive use of any inputs, which requires continual innovation is paramount for any specialized firm to succeed. Economist Joseph Schumpeter, who contributed greatly to the study of innovation, argued that industries must incessantly revolutionize the economic structure from within, that is innovate with better or more effective processes and products, such as the shift from the craft shop to factory. He famously asserted that a creative destruction is the essential fact about capitalism. In addition, entrepreneurs continuously look for better ways to satisfy their consumer base with improved quality, durability, service, and price which come to fruition in innovation with advanced technologies and organizational strategies.
A fundamental activity in the knowledge based society. The main component of economic and social development becomes knowledge.
“Education is the most powerful weapon which you can use to change the world.” Nelson Mandela
This is why, in a society of the future, education will play an essential role in creating the new way of life specific to knowledge and learning based society. The introduction in the educational system of new teaching techniques is a prerequisite to national economic and cultural success, as well as to increased economic competitiveness.
Therefore, the development of the knowledge based society is dependent on the creation of knowledge, on its spreading via education and tuition and on its dissemination via communication and on its involvement in technological innovation.
Increasing the population’s level of education will also create a more stable labor market, by decreasing overall unemployment. It is well known that well educated individuals have a higher participation rate on the labor market.