The Relationship between Education and the Market: Incorporating Enterprise Risk Management (ERM) and Marketing
Year: 2024
Type: article
Abstract: Education and the market are core components of society and reciprocate one another in intrinsic manners. This paper analyses the connection between education within the market and the structure of educational practices when it comes to the profession of marketing and Enterprise Risk Management (ERM). Nowadays, the interaction between education and the market has attracted increasing focus from scholars, however, there are still some deficiencies. Therefore, this paper focuses on examining how educational units influence marketing and ERM professional competence in the market. Thus, the study identifies that education is a significant driver in understanding consumer behavior, carrying out strategic interventions, and mitigating risks. More seriously, the results show that the improvement in education status increases the capacities of people to respond to market conditions and organizational vulnerability. Based on this, the paper proposes several suggestions for improving learning methods to better meet market demands: increasing the number of skills-based aspects such as internships and assignments, enhancing collaboration between academic institutions and businesses, and updating curricula frequently to the existing job market and innovations. These recommendations are intended to improve people's and organizations' performance and to support economic growth and development.
DOI: 10.54097/b1vvjf16
Author: Jiayi Chen
Institution: Syracuse University
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
SDG: Quality education
Open Access status: diamond
OpenAlex ID: W4405808455