Here is an article that discusses the differences between the formal learning offered by higher education and the informal learning offered in corporate training. While higher education offers a degree showing the “ability to learn”, informal training markets are job specific, based on industry needs. The point of view of the economic system is that education is the front end of the the system. Is higher education a competitor for this market or is this not what they do?
Along those lines, the corporate training marketplace is becoming increasingly important for today’s higher education institutions. According to a recent study by the Georgetown University Center on Education and the Workforce, employers spend $590 billion every year on formal and informal training for their employees. Higher education institutions, however, are falling behind when it comes to dominating this market.