How business graduates benefit from industry partnerships in Canada
Getting a graduate degree is a stepping stone for the next stage in your career, and it’s important you choose a programme that helps you achieve your professional goals.
Experiential learning is fast-becoming more effective than traditional textbook learning. In a number of universities, students in graduate programmes can take part in industry partnerships to apply skills in a real-world setting before graduation.
These industry partnerships can lead to full-time employment through internships, but even if it doesn’t, you get valuable experience and the chance to develop skills that are valuable to future employers.
Industry partnerships also allow business students to draw on real case studies and work with companies to solve real problems and come up with innovative solutions. Through this experiential learning, students develop skills such as problem-solving, agility, adaptability, and communication.
As mutually beneficial collaborations between universities and companies, STEM fields have long reaped the benefits of industry partnerships for cutting-edge research, and now more and more business schools in Canada are catching on.
AACSB International (AACVS), a global nonprofit association, connects educators, students, and business to create the next generation of great leaders, highlighted the reasons why business schools benefit from industry partnerships.
“Partnerships with business provide a wide range of unique opportunities for business schools beyond just recruiting and raising funds. Some of the benefits for the business school are obvious: numerous opportunities in resources and experiential learning for students, faculty, and staff.
“But business school and industry collaboration goes well beyond this. Partnerships with business can support real-time curriculum adaption to reflect the issues that companies are facing and can better prepare students—and faculty—to tackle real-world challenges.”
In Ontario, Canada, universities have established partnerships with industry, organisations, and communities to prepare students for the workplace as well as drive research and innovation to create jobs and fill skills gaps in the economy.
According to a report, “50 Ways Universities are Partnering with Employers” published by the Council of Ontario Universities last year, “Our partners include large employers such as RBC, Sun Life Financial and IBM, local businesses such as winemakers and food producers, technology start-ups, and public sector institutions such as hospitals.”
Some examples include The University of Toronto’s Centre for Engineering Innovation & Entrepreneurship that
aids collaboration with more than 300 industry partners to help students, researchers and alumni bring ideas to market, and The University of Windsor’s EPICentre partnership with regional businesses to support students and researchers in developing research into a start-up or product.
Centennial College in Canada is another example of an institution in Toronto, Ontario, Canada that has developed industry partnerships over the years to offer all students real-world experience.
For business students, they get to participate in experiential learning activities through case studies, projects, hands-on applications, research, role-plays or simulations which are part of many courses.
The Programme Advisory Committee at the College is made up of over 800 industry leaders, such as Canadian Press, Facebook, Google, The Association of Chartered Certified Accountants and many more.
Business students looking to gain employability after graduation and join the workforce armed with skillsets necessary for their job should look into universities and colleges with industry links in Canada.
They will benefit from the practical application of theoretical knowledge, network with industry professionals, and develop valuable experience in their business areas of interest.