Creating new systems of education that better connect education to employment also requires standards and curricula that align with labor market needs. Shared value companies can extend their reach far beyond isolated workforce development programs.
Consider Intel. With business growth constrained by a chronic shortage of talent in science, technology, engineering, and math (STEM) disciplines across the United States, Intel has embarked on a company-wide effort to transform STEM education nationwide. Today, Intel invests more than $100 million annually in programs and partnerships that strengthen STEM curricula and standards throughout the U.S. education pipeline. Through programs like Intel Math and Intel Teach, the company has delivered instructional materials, online resources, and professional development tools for hundreds of thousands of educators across the United States to enhance students’ STEM and other 21st century skills, including critical thinking with data and scientific inquiry. By analyzing its own workforce needs, Intel uncovered specific skill gaps in areas like technology and engineering, and the company has focused its investments accordingly. For example, it created higher education curricula in high-demand areas like microelectronics, nanotechnology, security systems, and entrepreneurship. Outside the classroom, Intel has developed a STEM policy toolkit and leverages its lobbying capabilities to encourage policies that promote a more globally competitive education in the United States. Together, these efforts have affected millions of students across the country and are fueling Intel’s talent pipeline and innovations in science while simultaneously increasing the company’s revenue (Source: Intel).
This case study is excerpted from FSG’s report, “The New Role of Business in Global Education.” For more examples of leading companies who are putting education at the core of their business strategy and operations, download the full report.