Challenges Faced by Graduates and Volatile Global Economy Essay

Challenges Faced by Graduates and Volatile Global Economy - Essay Example Hence the graduates and aspirants of opportunities are advised to capacitate their personal and professional skills based on the analysis of actual demands of the new business horizons. Various elements are to be considered responsible for the new economic trend of excessive completion in the international job market. Generalised expectations of most of the job market is that graduates from developed countries are basically exposed to luxurious life with the abundance of opportunities while the part of luxury is a rare incident in case of job seekers from emerging economies. As Farley, Malkani and Smith (2008) point out, majority of the graduates are in search of lucrative jobs in developed economies and the employers of the emerging economies find it difficult to fill the positions with efficient people, which will eventually result in reduced productivity and quality performance. Developed and emerging economies are facing the problem of internal competition in most of the producti vity regions in pursuit of claiming a stable economic position in the world. Presently, the world economy is moving through the crisis-hit segments in many spheres of international business owing to the competition among countries those have agreed to collaborating ideas and exchange of human intelligence for industries and trade. â€Å"The world around is being dramatically reshaped by scientific and technological innovation, global inter-dependence, cross-cultural encounters and changes in the balance of economic and political power† (Association of American Colleges and Universities, 2009). A majority of the leading economies in the world are now on verge of declining themselves from their perspectives of economic leadership over other countries over the past few years. This economic policy changes in the recent years are the earmarking revelation of an imminent move for cut-downs and distribution of intelligence requirement among job markets across the world mostly throug h information technology. Apart from the various norms of the governments to regulate the job market, a majority of graduates are forced to the risk of losing their technical knowledge in highly intellectual professions like doctors and engineers if the individual abstains from practice over a long period after the studies. As International Business Report (Sep 28, 2010) points out, in the scenario of volatile global economy, graduates are a target for certain challenges like excessive competition against limited requirements, economic downturns in local job markets, inadequate exposure to quality education with facilities for real-world exposure and also the setback of the height of expectations set above the achievable levels of opportunities to them and the development of intellectual debate between job searching with the graduation and further drive of higher education. Advancement in technology and computerisation in the field of operation of all the industries and offices in t he recent decade demands for a higher level enthusiasm among young aspirants to update their professional skills with the demands of the time. Unlike the traditional belief that industry involved the physical production of certain commodities, the world today is looking for the excellence of graduates in