Education as a tool of middle-aged executives in small and medium business: Lithuanian case

Abstract

The key element of development is people. Nowadays, changes in economy and business emerge so fast, that the employees have to be able to learn continuously or learn just-in-time to analyze or use the new processes, equipment or technologies. Globalization is directly related with education, employment and small and medium business (SME). As a rule, small states concentrate on education and investment, and innovation permeates both. Education development paradigm manifests at micro, mezzo macro, mega economic and national levels, in this case, the level of Lithuania. The present article analyses education as a tool of middle-aged executives and SME, as main global factors, affecting development in knowledge-based economy in the context of integration into the EU. Highly qualified executives, especially middle-aged (3550 age group), are a very scarce resource (due to the high level of emigration of young specialists). Education as a tool of middle-aged executives' activity, implements flexibility and develops organizational competence. Organizational education influences the performance of every employee individually and, consequently, impacts the performance of the organization. The role of the middle-aged executives is very important and involves shaping knowledge and culture, setting directions, allocating resources and creating balance between today and tomorrow. The analysis of questionnaires answered by executive EMBA students studying at Kaunas University of Technology Institute of Business Strategy allowed detecting study motives of middle-aged executives, their position in the firm and cooperation with other firms. Examination of questionnaire showed that education is and will be an important tool of middle-aged executives' activity.