The Impact of Investing in Education on the Business Management Environment of Romania

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The Impact of Investing in Education on the Business Management Environment of Romania

ABSTRACT: The paper promotes a holistic interdisciplinary approach based on a broader vision that incorporates principles such as: Wisdom, Talent, Knowledge, Creative and Innovative Management, applied mostly within Learning and Business Organizations. In a dynamic, turbulent world, managing diversity by supporting different people interactions requires the development of core competences and skills focusing on soft and communications abilities. Intercultural sensitivity and dialogue is a prerequisite for trust and team building among people who belong to different cultural and educational background. The main goal of the paper is to present some new approach regarding investments in education for business development purposes. Following an analysis of scientific literature research, substantial gaps are identified. Firstly, there is a shortage of research studies that differentiate the impact of investments in Life Long Learning, over an economic and social development long-run strategic vision. Secondly, the scientific and political discourses that surround the topic of investments in education are centered on public investments, neglecting other financial alternatives. Thirdly, scholars tend to allocate extensive examination to globalization and challenges affecting investing in education, such as brain drain, without placing too much emphasis on issues like Talent Management, and mostly to a bottoming-up approach based on glocalisation, exploring the potential of local creative people. The paper is structured as follows: first it provides an overview of the current state of the scientific literature on the topic; next it includes a presentation of research methodology and main research questions. Finally, it presents the main results and the implications for policy makers by highlighting the contribution brought by the paper to the research field.

KEYWORDS – Investing in education, Human capital, Intellectual capital, Intercultural sensitivity and intercultural dialogue, Interdisciplinary approach

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