There have been significant and complex advancement and challenges arising from globalization in the 21st century in the areas of political, social, economic, and technology across the globe. We are now in the knowledge-economy wherein specific skills are no longer the main edge to do business but rather what you know and what you can do. In the education system, this is the most challenging times in addressing the current and emerging needs of the global workforce. There have been a substantial transformation in terms of higher education from elite to mass market; revolutionary changes in the production of knowledge; and the rapid development in the information and communication technology (ICT). These transformations have brought about complexities in terms of geographical and physical organization of education wherein time and place is no longer of primary consideration in providing quality education to the general public. Gone are the traditional ways of delivering education by means of physical contact and use of a physical classrooms. These massive and rapid development in the ICT have brought about virtual technologies that goes beyond the boundaries set by the traditional educational systems because it now provides greater flexibility in geographical scales revolutionizing and eliminating physical schools, academies and universities from the immediacies of its context in delivering its education services, typically being stretched over large tracts of time and space which most of us are shaped by these so-called “traditional” processes taking place on the other side of the world (globally), and vice versa. Collectively, these changes have posed challenges to educational system to transform and adapt or maybe even perhaps revolutionalize and reinvent itself in order to cope up with the rapid demands of knowledge, skills and attitudes of the global workforce.
The International Academy of Management and Economics (IAME) is not oblivious of these demands and are now into its major transformation in an attempt to collectively exploit what ICT and globalization have to offer to cater to the needs of the knowledge-economy. IAME is now in its rennaissance and putting greater effort to do its share in building and shaping the future, thus the building of “IAME Virtual University”.