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The Business of Education: How Do Schools Work as Institutions?

  • Written by Business Daily Media

The education system is integral to the economy and society of the world but not many understand how these institutions work. You can spend your whole life immersed and going as far as studying the Masters of Education, but have no idea who sets up the curriculum or how your school is funded. In this blog post, we’ll take a look at how the education system is run from a business perspective so you can get a better idea of its inner workings.

Overview of The Educational System

The schooling system starts as early as kindergarten and can extend to universities, where students are taught various skill sets that provide them with the foundational knowledge for career development and to be functioning members of society. We tend to forget that almost 10-20% of our waking lives are spent in educational institutions by the time we are 18 years old. This influence is not to be understated as the entire makeup of society depends on what is taught to its citizens from the developmental phases of their lives.

Most students in Australia complete their high school degrees and either get involved in the workforce or attend higher-education studies to further their careers. The workforce is made up of a variety of education levels which include TAFE certifications usually for trades or labourers while more technical and professional careers require a bachelor’s degree or higher. This helps ensure that employees in all industries are equipped well for their positions.

Stakeholders in the Education System

The education system is rather complex with a variety of stakeholders that ensure the wheels are turning and running smoothly. This includes everyone from teachers, administrators and even government officials who all work in conjunction to make the education system operate smoothly. Let's take a look at these roles individually.

Teachers

Teachers are responsible for facilitating classes as well as engaging and supporting students throughout their educational journey. They work together with administrators and government officials who advise them on curriculum delivery and then develop their teaching procedures based on the feedback provided.

Administrators

The administrators in the education system are responsible for the overall operations and ensure that all procedures are carried out accordingly. This can be anything from hiring staff, managing enrolments to developing procedures and policies. They take a central role in the management and while they aren't in the forefront, the school system wouldn't function without their support.

Government Officials

Possibly the most influential part of the educational system is the government officials who have a say in the direction the education system takes. They can set up committees for curriculum development and provide resources to increase access to educational opportunities. Government officials are also responsible for funding almost all educational institutions to ensure students of all economic backgrounds are set to succeed.

Who Sets The Curriculum?

The curriculum of the education system is designed predominately by the government who work together with education officials to develop something appropriate for the development of students. It is designed to ensure that all students are taught the appropriate skills and abilities that serve them after graduation. It's vital for the government to keep up to date with social and economic changes in the community so they can decide on what parts of the education system to focus on and what incentives they can provide to institutions and students.

Financing The Education System

While many people think that the education system doesn't have much financial interference, they still need to turn the lights on and operate as a business. They have many incentives and funding from the government, even though some private institutions might be more self-sufficient. Funding also comes from student fees that tend to increase when it comes to university tuition. Multiple sources of income help systems stay afloat but without the central support from governments and local education authorities, the school system could struggle.

Conclusion

The education system operates just like any other business and needs to be supported for students and society to benefit from the resources it provides. It is essential that everyone, including private institutions, have access to educational opportunities regardless of social status or economic background. This is why so much support is given from governments to ensure they run economically. If we can balance resources and provide a solid education for future generations society will benefit as a whole.

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