Online ISSN 2286-0266
Print ISSN 1223-0685
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Œconomica by SOREC
 
Adrian-Ioan DAMOC
Academia de Studii Economice din Bucureşti
A global economic context means increased competition as corporations face off against contenders from other countries, and consumers are presented with a wider range of choices on the market. It is this global competition that drives economic actors to seek competitive edges in order to maximise their turnovers and minimise costs; it is within this very global economy that corporations look for these advantages, outsourcing their activities in order to make use of the opportunities that globalisation brings. The same situation can be encountered on the labour market. While the fact that companies are expanding their economic activities globally often means increased employment opportunities, it also means that job seekers from around the world are facing the same need to become more competitive on the job market in order to attract better employment opportunities. Workforce competitiveness is determined by a series of factors, such as availability and ease of access (i.e., job market legislation), level and quality of education, and cost. The level and quality of education are of particular concern, as it gauges the potential of the workforce, and is also the cornerstone of the so-called “skills gap”, a controversial issue based on a common complaint of corporations regarding a shortage of skilled employees. Acknowledging the importance of this factor, numerous companies have concluded partnerships with local universities, leading to intimate connections between the business environment and education. Thus, in the same manner that supply and demand shape the markets for typical goods and determine the success of a market, these partnerships between universities and corporations have a similar impact on the labour market, bringing together demand (i.e., the corporations seeking skilled employees) and supply (universities and education centres training the future workforce). There are numerous long-term benefits that such partnerships can bring to the education sector of a country. As such, the present paper seeks to examine the strategic importance of partnerships between corporations and higher education centres as a key driver in defining the competitiveness of the workforce, and how it may benefit the economy of Uzbekistan.

ŒCONOMICA no. 1/2017
Keywords: university, private corporations, workforce competitiveness, global economy
JEL: I20, N30
The Strategic Role of Partnerships between Universities and Private Corporations as a Driver for Increasing Workforce Competitiveness in a Global Economy [Rolul strategic al parteneriatelor dintre universităţi şi corporaţii private ca facilitator al creşt