Educational Institutes Redefined A Response to External Challenges and Internal Upheaval Sinha Sujata Assistant Professor II, Department of Humanities & Applied Science, School of Management Sciences, Lucknow, India Online published on 31 October, 2017. Abstract Moving into the 21st Century as the lines between opposing economic philosophies of Capitalism and socialism become blurred, the forces of globalization impact every facet of man's life and technology reduces the geographical distance, the spread of education becomes the vehicle of introducing the far reaching changes in man's life. However the field of education itself can not remain unaffected by socio-economic changes sweeping the world. It is the much maligned capitalism rather than socialism which has become the economic creed of the modern day. Capitalism, entrepreneurship along with corporate social responsibility has become the buzz words of every business enterprise and that includes education too. Today educational institutes stand at the cusp of time where they are both driving the changes and are being driven by them too. In this research article based on authors personal experiences and observation an attempt is made to analyse the modernized face of an educational institute. In this research article I have concentrated on the changed perspectives of academic capitalism, student as the customer and the changed role of government in running of the institutes of higher education which has led to the changes in the organization structures and functionalities of the colleges and universities. These widespread changes affecting all facets of an educational enterprise are redefining the very purpose of education, which was hitherto perceived as the vehicle for change and has become a changed vehicle which resembling any other business enterprise driven by tasks, goals, targets and most of all cost effectiveness leaving little space for the idle, imaginative discourse, debate and discussion of academic inclinations. Top Keywords Education, Academic Capitalism, entrepreneurship, capitalism. Top |