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Cooperation Between Universities and Businesses in Developing Human Resources to Participate in the Digital Economy

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  • Thi Hang Nguyen

    (Thai Nguyen University, University of Information and Communication Technology)

Abstract

The fourth industrial revolution has resulted in a need for digital businesses to participate in the digital economy. Digital human resources play a crucial role in helping businesses implement the digital transformation process. The quality of human resources is a critical factor in maintaining competitiveness and performance at the enterprise, universities, and economy-wide levels. In order to adapt to the digital era of the fourth industrial revolution, high-quality human resources capable of applying technology to production fields are required. Developing a digital economy necessitates digital human resources to deploy, organize, and operate it. However, a major challenge is the shortage of high-quality human resources in manufacturing industries. Many university graduates remain unemployed because they do not meet the needs of employers, and many workers cannot find jobs in fields related to their training. This results in waste for families and society, creating an imbalance in labor supply and demand. Building cooperative relationships between universities and businesses is a necessary and critical direction. The two sides can provide information to each other, allowing universities to develop enrollment and training plans in accordance with the needs of the enterprise. This helps universities solve their dilemmas in finding outputs for learners, while also helping businesses recruit high-quality human resources that universities cannot afford to train. This study uses an online data collection method through creating an online survey using Google Forms. The questionnaire was sent to managers at 200 small and medium-sized enterprises in Vietnam to analyze and assess the human resource needs of the economic sector to meet the development of the digital economy. The survey focuses on designing an assessment scale on business satisfaction for graduates at universities. The reliability of the scale is tested to test the hypotheses, serving as the basis for proposing solutions. The results of the study will help universities adjust training content and methods to improve the quality of human resources to serve the needs of developing digital businesses. In addition, universities need to grasp the job market’s employment needs, seeing businesses as a bridge of information and providing universities with the labor market’s current demands. The linkage between universities and businesses is necessary and brings benefits to both parties. Through this, universities will form a human resource training strategy that is both specialized and practical to meet the demands of businesses, ensuring the quality of human resource training to meet society’s needs.

Suggested Citation

  • Thi Hang Nguyen, 2024. "Cooperation Between Universities and Businesses in Developing Human Resources to Participate in the Digital Economy," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(2), pages 5230-5249, June.
    • Handle: RePEc:spr:jknowl:v:15:y:2024:i:2:d:10.1007_s13132-023-01357-y
    DOI: 10.1007/s13132-023-01357-y
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    References listed on IDEAS

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    1. Eleni Laitsou & Antonios Kargas & Dimitris Varoutas, 2020. "Digital Competitiveness in the European Union Era: The Greek Case," Economies, MDPI, vol. 8(4), pages 1-33, October.
    2. Inzelt, Annamaria, 2004. "The evolution of university-industry-government relationships during transition," Research Policy, Elsevier, vol. 33(6-7), pages 975-995, September.
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    More about this item

    Keywords

    Digital transformation; ICT sector; Digital economy; Digital education; Industrial Revolution 4.0; Economic growth; Smart manufacturing;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • P42 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Productive Enterprises; Factor and Product Markets; Prices
    • P45 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - International Linkages

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