Higher education has an important role in providing proper economic and business education which ensures its graduates can face and complete global trends in accordance with developments in information and technology. Adjustment and development of education begins when policy makers respond to the development needs of stakeholders, by being involved and implementing best practice policies according to changing times. Economic and business education, in particular, requires synchronization of cooperation between industry and education that transcends agency boundaries. The department of economy and business in higher education is required to face the challenges of rapid social change by making adjustments and developments in accordance with developments in global information and technology.
Based on a report published by the United States Ministry of Education in 2006, the main challenge of changing times is increasing innovation in the field of education. Improving innovation and quality Education is not only important for financial security but also for the security of the country itself. The government and the private sector are always looking forward to new methods to improve the quality of life and improve the quality of security. The effort to spread freedom but still within the context of the country and culture is to learn languages. It increases opportunities and entrepreneurship by promoting a democratic system and global understanding.
The next challenge is increasing knowledge, especially in the fields of economics and business. The rapid development in technology, followed by no less rapid economic growth will have an impact on the cultural aspects and values of a nation. Pressure, sharp competition in various aspects of life as a consequence of globalization will give birth to a generation that is disciplined, diligent and hardworking. Generations in each era tend to have different characters. It is the duty of educational institutions to mediate the changing times and the development needs of their students.
In the world of education, globalization will bring rapid progress, namely the emergence of various learning sources and the spread of mass media, especially the internet and electronic media as sources of knowledge and education centers. The implication of this is that teachers are not the only source of knowledge. As a result, students can master knowledge that has not been mastered by the teacher. In this case, school management must be improved. The consequence is that the competence of educators and practitioners must also be improved according to their functions and duties as agents of change. Changes in the industrial sector will affect the education curriculum, and players in the industrial sector need to be prepared with appropriate education.