ECON6000 Economic Principles And Decision Making

Corporate universities play a vital role in developing, storing and disseminating knowledge and thereby contribute towards the knowledge management function within the firm. Research TWO multinational corporations that have set up corporate universities; identify the reasons for the set up; and explain the potential benefits of the same (while doing so, please link back with relevant literature on knowledge management). 

 

You will be assessed on your ability to recognise, analyse and discuss the key issues in the topic; and on your ability to appropriately use reference material to support your arguments. The quality of the sources of information you use, as well as your referencing skills, will be assessed. Written assignments must use the Chicago Referencing System and papers that are unsatisfactorily referenced will be returned unmarked. You are expected to use at least twelve (12) different academic sources to support your arguments and discussion. The use of WIKIPEDIA online encyclopaedia is not allowed.  This is not an essay. It is your responsibility to understand the format of a report. There are numerous business communication books that will show you the format/layout if you are unsure of what is required. Students are required to submit their assignment through Turnitin (through Blackboard) All assignments are to comply with Curtin’s referencing guidelines. The university has implemented a policy and guidelines for dealing with student plagiarism. Once investigated, penalties imposed upon students found to have plagiarised range from a nil grade for the piece of assessment to expulsion from the University. The penalty imposed will depend upon the level of plagiarism found.

Introduction

In the modern world, there are a number of corporate sectors and companies that are looking for potential talents and skills to give them good business and profit. Inspite of the presence of a number of candidates for the post, the lack of appropriate knowledge regarding the sector as well as the company is one of the chief factors that has led to the concept of setting up of own corporate universities for the interns and employees. According to Barkan (2013), the concept though comparatively new to the world face has served both the employees with both ample benefits as well as some drawbacks for the concept of knowledge management and recommendations on the worth of the investment. The following report highlights the corporate university along with then reasons for the setting up of the same. In the following paragraphs, the potential benefits for the setting up of the universities has been stated with link to Knowledge management and worthy recommendations on the worth of the universities.

In the Global Economy, knowledge is a competitive advantage

According to the theories of Rolfe (2012), corporate University is defined as the educational institution that is designed to implement knowledge and skills to the interns of the company as well to the tenured employees who are willing to take any extra help from the source. The strategy of the corporate university is to have the level of assistance for its parent company and also to help the company to make profit by achieving the level of business and goals. The corporate universities are the ones that help the interns to have the best of the organizational learning and knowledge with skills (Rolfe 2012).

The corporate universities are significant in the modern world due to their tailor-made course designs which aim for the betterment of the course and also for making the workers have better overview about their work without having to worry about the detailed course material. The importance of the Corporate University is in the matter that it focusses on the learning of the candidate with proper work and experience which help the candidate flourish in the work which they are focussing on. The significance of the corporate university lies in the fact that it provides the candidate not only theoretical knowledge but practical experience as well which is of utmost requirement in the modern world.

The multinational companies are the set of companies that have at least one or more than one office in the country other than the home country in which it is operating in the current scenario (Ruggie 2013). There are a number of multinational companies in the present times which has their own set of corporate universities which can help the companies in acquiring the amount of talent and skills in the required place.

The two multinational companies selected for the report which has their own Corporate University are Motorola and Mc Donald’s. The universities set up by the companies for their better strategic work and making their employees well acquainted with the task is the Motorola University and Mc Donald’s Hamburger University.

The first company that is involved in the setting up of universities are Motorola which is one of the most popular American multinational companies for the telecommunication department (Motorola.com 2018). The company is set up in the year 1928 which is one of the foremost mobile companies in the global sphere. According to Motorola.com (2018), the company manufactured a number of wireless phones that were used both for the personal use of the people of the sector as well as the industrial as well as the commercial purpose.

The second company that is being considered in this case is Mc Donald’s, one of the most popular American fast food brand. It was established in the year 1940 and operated from the city of California. Mc Donald’s is one of the foremost brands that came up with a varied range of fast food items even with some touch of some specific countries with their own secret recipes that are taught to their interns and employees working in the same manner (McDonalds.com 2018).

Both the companies are the leaders in their field of work which need extra efforts from both the sides of the employees as well as the companies to have a proper amount of the efficient trainers and workers for the better working of the university in a particular fashion.

The multinational corporations that set up corporate universities have to invest both their time and efforts for the working of the staff and also to make sure that the people of the organization have the sufficient skills and knowledge for the best work possible. Here are some of the reasons for the setup of the corporate universities for the multinational firms –

• To provide best training – According to Atlbach (2015), one of the most effective reasons for the setup of the corporate universities is the need to provide ample quality and quantity of training for the employees. The freshers in the field or some of the workers who need training and development activities for their work can register in the University for having training at the best level. Both Motorola as well as Mc Donald’s need to provide best training services for the best possible work methods.
• To keep their standards of work – The standards of the work have to be maintained by all the corporate level of the multinational companies. The companies who have developed their corporate universities have their own standards of work which they have to maintain by having good work and life standards. Both Motorola and Mc Donald’s are popular organizations that have to maintain their standards of work which is helped by their own university (Yan 2013).
• To benefit their employees in the longer time – One of the pivotal reasons for setting up of the corporate universities is to benefit the workers of the companies in the longer period of time. The employees have to work for the companies in the best possible manner which make the training and lessons at the university one of the best in the case (Altbach 2015). Both the companies have to keep their employees in a work satisfactory position for the longest time.
• To make a particular work structure – The development of a particular work structure is another major reasons for the setting up of the university as that enables the workers to have a specific methods of work applicable for all. Both the companies have their own methods of work which can be well taught in the universities.
• To keep their work a secret – Sometimes major companies try to keep their recipes and formulations a secret for which they required extensive training. The whole process of keeping the work a secret is one of the reasons for the setting up of university. Mc Donald’s try to keep their recipes a secret which can be achieved by these universities.
• To foster innovation – According to Yan (2013), Innovation can be fostered at the university level and to make the companies have better customer satisfaction with the innovative products. Motorola and Mc Donald’s have to continuous innovate newer products to keep their customers happy which is done by the universities.
• To make communication better – The better communication between the employees as well as the authorities is able at the university level which makes sure that all the people of the university have better working structure in the case. According to Galegher and Carmen (2014), both the companies have to make better and effective communication channels for the better work.
• To retain employees – According to Das and Baruah (2013), retention of employees is one of the best possible ways if the employees are given proper training facilities along with the provision to work for the company as well. Retention of employees is a must if both the companies want to sustain in the longer run.

Potential benefits for the corporate universities

The establishment of the corporate universities have potential benefits to them which make more companies engage in this method for the longest period of time. The benefits are as follows –

• Strategic alliance with the company – The corporate universities follow the path of strategic alliance with the companies against which the university has been set up. Different companies have different strategies for the company which is the reason the universities have importance (Shi and Prescott 2012).
• To retain employees – One of the possible benefits for the university is the retention of employees in the long run. The retention of employees have a lot to do in the case which means that the employees can be sustained in the organization for a longer period (Das and Baruah 2013).
• To gain profit with better business – With the training and employment notes, the employees will be able to perform better and gain a lot more on the personal front in the case. The better business and better profit will make sure to have good results for the company.
• To keep the quality of work consistent – The quality of the work is to be maintained to make sure that the work of the employees remain in a consistent manner (Tiwana 2010). The organizations have to be maintained for their level of work to make sure that they get their level of work done.
• To have better recruitment – The better recruitment of the employees is there for the university as it enables the workers for the better recruitment phase in the case and also to enable better employment range.

The concept of Knowledge management and the link to the corporate universities

According to the views of Dalkir (2013), knowledge management is defined as the process in which the important information as well as the resources of the commercial organization are efficiently handled and managed. The management of the apt knowledge is in consideration with the universities which are set by the multinational companies of the nation. The corporate universities are determined to make sure that the knowledge regarding the working and the requirements of the organizations are being done in the concrete manner. According to the opinions of Gary and Sallis (2013), the corporate universities have to make sure that they employ sufficient amount of knowledge to the employees both in terms of work as well as management to make sure that the abundance of knowledge in the said courses is being maintained.

The prospect of knowledge management is to make sure that the corporate universities have the level of understanding with the people of the organization and they are dedicated to make efficient and truthful employees for their organization. The students who are from the corporate university are enabled to maintain and handle the information and ways of means that is being done by the workers of the state (Dalkir 2013). The concept of knowledge and culture is to be analysed keeping in mind the ways in which corporate universities have an effect on the education level.

The two corporate universities stated here are the Motorola University and Mc Donald’s Hamburger University which help the students and the future employees of the organization to have the efficient level of knowledge in the sense and to cater to the measures in the required span of time. The two universities have their level of working to make sure that each of the students who are enrolled in the university get the best of their services and studies to become potential and great employees for the organization.

The concept of knowledge management is there for both the corporate universities chosen in this case for being one of the best sources for the implementation of knowledge and skills in the required span of time. Both the universities have to be well accustomed to provide the best of the knowledge to have the best of the results.

Recommendations on the worth of the setting up of corporate universities

Companies have stated the need to have better employees with not only experience but also knowledge in the field which is possible in the corporate universities. The worth of the setting up of corporate universities is major and certain recommendations can be implied –

• One of the major recommendation is to establish universities that will be sufficient for the requirement of the organization which is setting the university up. The companies which have innovative goals and ideas have to be in line with the latest management techniques for the formation of the university in the sense. Both Motorola and Mc Donald’s
• The second recommendation is to have a detailed communicative line with the employees of the future company which will enable the company to have the required amount of the corporate level understanding and study in the detailed sources. The recommendations for the universities in the corporate level is to be at par with the organizational level.
• The third recommendation for the corporate university is to make sure to have the level of employees in the prolonged time of time. The employee retention is one of the best measures to make sure that the people of the organization have the level of the work in the concerned manner.
• The whole aspect of the corporate university and the knowledge gained by those in the concerned time is to make sure that all the work being done is properly executed.

In the last part of the recommendations, it can be stated that corporate universities are one of the best investments made by the corporate world in terms of organization.

Conclusion

In conclusion, it can be stated that corporate universities have a major role to play in the overall sector of the term which can make sure that the organizations have to be in line with the people who are willing to work for the task and also make sure to have a better career opportunity growth in the concerned time span. The corporate universities of Motorola and Mc Donald’s have been established to make sure that the companies get benefitted in the prolonged period with the required readings and experience of those places. From the above analysis, it can be stated that corporate universities are one of the most needed investments that the companies make in the competitive world.

Reference list 

"Mcdonald's: Burgers, Fries & More. Quality Ingredients.". 2018. Mcdonalds.Com. https://www.mcdonalds.com/us/en-us.html.

"Motorola US | Unlocked Cell Phones & Modular Smartphones". 2018. Motorola.Com. https://www.motorola.com/us/home.

Altbach, Philip. "The rise of the pseudouniversities." International Higher Education 25 (2015). Available online at https://ejournals.bc.edu/ojs/index.php/ihe/article/viewFile/6947/6164

Barkan, Joshua. Corporate sovereignty: Law and government under capitalism. University of Minnesota Press, 2013. Available online at https://muse.jhu.edu/book/26754

Dalkir, Kimiz. Knowledge management in theory and practice. Routledge, 2013.

Das, Bidisha Lahkar, and Mukulesh Baruah. "Employee retention: A review of literature." Journal of Business and Management 14, no. 2 (2013): 8-16.

Galegher, Jolene, Robert E. Kraut, and Carmen Egido, eds. Intellectual teamwork: Social and technological foundations of cooperative work. Psychology Press, 2014.Available online at https://www.taylorfrancis.com/books/e/9781317784166/chapters/10.4324%2F9781315807645-7

Jones, Gary, and Edward Sallis. Knowledge management in education: Enhancing learning & education. Routledge, 2013.

Rolfe, Gary. "Fast food for thought: how to survive and thrive in the corporate university." Nurse Education Today 32, no. 7 (2012): 732-736. Available online at https://www.sciencedirect.com/science/article/pii/S0260691712001025

Rolfe, Gary. The university in dissent: Scholarship in the corporate university. Routledge, 2012. Available online at https://www.taylorfrancis.com/books/9781136190650

Rubenstein-Montano, Bonnie, Jay Liebowitz, Judah Buchwalter, Doug McCaw, Butler Newman, Ken Rebeck, and The Knowledge Management Methodology Team. "A systems thinking framework for knowledge management." Decision support systems 31, no. 1 (2001): 5-16. Available online at https://www.sciencedirect.com/science/article/pii/S0167923600001160

Ruggie, John Gerard. Just Business: Multinational Corporations and Human Rights (Norton Global Ethics Series). WW Norton & Company, 2013. Available online at https://books.google.co.in/books?hl=en&lr=&id=nJqoTmuD6uoC&oi=fnd&pg=PR11&dq=Ruggie,+John+Gerard.+Just+Business:+Multinational+Corporations+and+Human+Rights+(Norton+Global+Ethics+Series).+WW+Norton+%26+Company,+2013.&ots=AHbx4Bg19R&sig=q9igeDIBa5yFWWHib8JyEoLXyOo

Shi, Weilei, Jing Sun, and John E. Prescott. "A temporal perspective of merger and acquisition and strategic alliance initiatives: Review and future direction." Journal of Management 38, no. 1 (2012): 164-209. Available online at https://journals.sagepub.com/doi/abs/10.1177/0149206311424942

Tiwana, Amrit. The knowledge management toolkit: practical techniques for building a knowledge management system. Prentice Hall PTR, 2010. Available online at https://dl.acm.org/citation.cfm?id=323909

Yan, Yungxiang. "Of hamburger and social space: Consuming McDonald’s in Beijing." Food and culture: A reader (2013): 449-471. https://books.google.co.in/books?hl=en&lr=&id=uO210jcx0ZUC&oi=fnd&pg=PA449&dq=Yan,+Yungxiang.+%22Of+hamburger+and+social+space:+Consuming+McDonald%E2%80%99s+in+Beijing.%22+Food+and+culture:+A+reader+(2013):+449-471.&ots=6K6iD-gzHS&sig=Eh5dbY0juC1cxzzvynLBt8pvEZY#v=onepage&q&f=false