Strategic Funding As A Panacea For Promoting Skill Acquisition In Business Education In The New Normal

Abstract

Strategic funding should be considered as a panacea for promoting skill acquisition in Business education in the new normal. Business education remains key to the economic survival of any nation in lieu of the dwindling economic down turn. The new normal in our educational system has led to an increase in the use of digital tools for research, teaching, assessing and learning in higher institutions in the wake of the COVID 19 pandemic. Skill acquisition in higher institutions requires putting in place necessary facilities that will allow for easy training of our students. However, funding to provide for the necessary tools/facilities remains a huge challenge. In this exposition, the concept of business education, skills acquisition, new normal and strategic funding werex-rayed. It also pointed out the various skills acquired in Business education, importance of funding skills acquisition in business education, sources of funding and strategies for funding in the new normal. Suggested strategies included the use of social media platforms, strategic venture investment, host-proprietor-university-funding model amongst others. It was concluded that funding skill acquisition is central to achieving the objectives of Business education and funding strategies must be intentionally looked into. It was however, recommended among others that organizing periodic workshops and seminars to create awareness and explore potential strategies infunding Business education, conferences and workshops should be organized periodically to explore potential strategies that can be used in funding skill acquisitions in our higher institutions.