Question

How does a country’s educational system influence its business environment?

Answer 1

• A prospering and robust educational system of a country is very critical for its business environment as better education shapes the skills, attitudes and behaviour of the population.
• Higher educated workers are productive and have the capability to deliver more than expected in their position
• Education in every sense is a fundamental factor for the development of the economy as it promotes entrepreneurship and technological advancement.
• In addition, it plays a crucial role in improving social, economical and income distribution of people.
• If in an economy the demand for the employee or skilled labor is not met then the economy cant grows which is fulfilled by education as it provides skilled laborers.
• In the era of globalization, every country is competing with each other and in international trades a comparative advantage is required. This depends a lot in educational system as they influence peoples thought process and strategy making.