A long held belief in corporate America is that colleges and universities prepare employees for entry-level positions, while it is the responsibility of the corporation to provide the skills and knowledge needed to contribute to the long-term strategic objectives of the organization. A number of corporations have established their own internal “universities” to provide leadership development to senior or high-potential employees. However, many are beginning to rethink this assumption and examine the costs and benefits of outsourcing certain “educational” requirements to higher education institutions, enabling their HR departments to focus their resources on the “training” needs of the organization. This form of “contracted learning” is undoubtedly growing, with top organizations and schools already leading the way including Boeing with the University of Southern California, Verizon with Stevens Institute of Technology, and Lockheed Martin with Drexel University.
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