LETTERS: LIFELONG LEARNING IS WAY OF FUTURE

To the editor:

I was selected by the Institute of Management Accountants to serve a distinguished professor-in-residence for 1998 and 1999. Southeast Missouri State University granted a two-year alternative assignment (faculty internship) to enable me to work full-time with the IMA. My role existed in the triangle between the IMA, academia and the business community. It was the most beneficial and enjoyable professional experience I have yet encountered.

Very quickly I saw the problems with educational compartmentalization of K-12 and college, undergraduate and graduate, versus lifelong learning for success. The traditional approach does not always serve students or employees well as they attempt to move seamlessly between educational environments and their business careers. Learning gaps frequently occur to the detriment of students and employees.

It is perhaps better to approach all education as K-75. This enables everyone involved in the educational and economic enhancements of students and employees to focus on learning knowledge, skills and abilities from kindergarten through age 75.

Understanding the all-important role of competition and customer satisfaction is the key. The U.S. economy finds itself increasingly involved in a long-term, international, competitive environment where value added must be achieved very early in an employee's career. "Competition is eternal. There is no such thing as winning. There is no end to the game. Even if you compete and win today, you must compete and win tomorrow." (Kuniyasu Sakai, chairman, Taiyo Kogyo) Will the focus on learning knowledge, skills and abilities will help us do a better job of adding value to students and employees and simultaneously enhance an understanding of competition and customer satisfaction?

Research study after research study identifies the knowledge, skills and abilities students and employees need to add value. As an example, I completed and published a research study that addresses the needs of management/accounting education in the new millennium (co-authored with Steve Berlin, former chief financial officer at Citgo). The study identified selected knowledge, skills and abilities that are and will be important: work ethic, global perspective, continuous learning, communication skills, adaptability, teamwork, cross-functionality, analytical problem solving, internal consulting, computer skills/technology networks, an appreciation for the value of ethics and focus on clients, customers and markets. The ability to understand what business does is also very important.

Development of these key skills should in no way diminish the expectations for students and employees. A K-75 expectation helps the educational and workplace environments channel their respective resources and educational goals for the overall benefit of the student and employee.

Corporate universities are developing quickly to fill the gaps created by the widening disconnect between academic preparation and employer expectations. Educational competition from for-profit educational programs is on the rise.

Other countries are already moving to a new paradigm. The United Kingdom is in the planning stage for the development of a national e-univeristy with the expectation of enrolling at least 50 percent of England's young people in higher education before they reach age 30. Other countries are expected to follow England's lead.

The competitive environment of tomorrow will force businesses to focus more on such things as the amount of wealth a firm creates for each employee. Continuous learning will be part of that wealth metric. Firms will be forced to benchmark their employee wealth creation against competitors to ensure they attain and retain high-caliber, creative employees who bring their A game to work each day.

What a wonderful challenge full of creative opportunities for all educational institutions and firms in the United States. Thinking in terms of K-75 is an excellent start.

DR. KEITH A. RUSSELL

Professor of Accounting, Finance and Business Policy

Southeast Missouri State University

Cape Girardeau, Mo.