Business Education in Pakistan: Growth, Problems and Prospects

Abstract

In present age of knowledge economy, professional education has gained unique importance. The post World War II developments in shape of unprecedented growth of trade and industry have caused proliferation of business education throughout world beside progress in other areas like engineering and medicine. Resultant, business education achieved great value. The importance of business education has been further increased in developing economy like Pakistan, which has still long way to reach the status of developed economy.

An overview of the growth of the business education in Pakistan has been presented in this study through highlighting its problems and future prospect. For this purpose, a non-systematic narrative review was carried out in such way that a thorough review of the existing literature on business education in Pakistan was done. It has been found that the roots of existing business education system in Pakistan lies in the educational system introduced by British in past. The present system of business education in Pakistan has gradually grown in past sixty four years, in such way that it has experienced a paradigm shift in 21st century, when the Government of Pakistan invested huge amount in education sector for development of country through knowledge and technology. It is still facing different inherited problems which are either from the institution or government side. There is a need of a more dynamic approach for full development the business education system in country through joint collaboration between society, business education institutions and government. Once such system will be developed then the requirements of business sector will be successfully fulfilled and country will get a strong base in commerce, trade and industry, which will ultimately develop the country as whole.

Keywords: Business education, professional knowledge, economic development, Indian subcontinent, Higher Education Commission, faculty shortage, budgetary constraints, university industry linkage, research & development