ABSTRACT
In recent decades, globalization has given rise to a new economy driven by factor mobility, skills development and knowledge-creation. No longer are capital and labour alone sufficient for promoting global competitiveness; instead, knowledge-creation and development of new products that induce global integration are requisite. The new knowledge-based economy underscores the importance of information and knowledge driven by labour market flexibility and investment in modern Information and Communications Technologies (ICTs). To this end, deepening integration in global markets and cultivating the benefits of globalization will require a highly-skilled and well-trained workforce capable of making strategic, managerial and organizational decisions.
