Our world is dramatically changing from that of a few decades or years ago. We are living in an era of globalization which is characterized by the growth of economic and social activities across the national boundaries. The driving forces have been huge increases in the speed of travel and “the technological revolution in communications, the internet and large‐scale computerized information systems”, which have resulted in the compression of time and space and “make it possible to conduct business on a planetary scale in real time” (Berdahl, 2008). Under the pressures of stiff competition, one has to face many challenges of local, national and global context. In order to compete globally, participation in Higher Education acts as a perfect bridge as it develops a range of skills, knowledge, values and competencies which are essential to survive in this highly- competitive environment. It is a mechanism which enhances the quality of life, enlightens one’s vision and gives a broader perspective of life.
The role of Higher education is changing and evolving, matching the trends of the rapidly growing society. It’s first and foremost aim is to educate the leaders of tomorrow by improving their analytical and critical thinking. The task is not just to disseminate the knowledge but also induce the students into the making of knowledge. “Once upon a time, higher education was seen as a public good that brought value to our society. Now, higher education is perceived as a personal investment in which the public has limited interest” (Malveaux, 2003). This statement depicts the true picture of Higher Education in today’s world. It only exists to bolster the economy. The approach is to produce workers for the labor market and economy. However, Higher Education’s role is not just confined to the monetary terms that results in better economic outcomes. It also contributes towards the intellectual and cultural development of the