Business

Bridging the gap between university education and job market requirements

Published

4 years ago

2022/08/29

By Ruvini Perera
Department of Entrepreneurship
Final year
University of Sri Jayewardenepura

To have a bright education and to be better off in life is every person`s dream since their childhood. To achieve this, a major step that they take is attending the university to continue further studies which they expect will make them eligible for a qualified, professional and a well-paid job. But unfortunately, this desired happy ending might not occur in many people’s lives even after years of spending on studying and learning at a university because of the inability to be the right fit for the jobs in the market.

University education which is also known as tertiary education is an optimal stage of learning after secondary education where an academic qualification is provided. People get a college degree due to many reasons, mainly to be more attractive to employers, for job stability, career satisfaction and long-term financial gains. They do so to increase the chances of getting a well-paid job with social status. But does this really happen? Unfortunately, the answer is a huge NO. Employers are always trying to achieve a competitive advantage in whatever they do. So, employers seek employees who can bring something new to the table. This thinking influences employers to think thoroughly before hiring someone for a company. The available chances are few, thus the opportunity is given to the most suitable candidates.

The main reason for this gap can be identified as the lack of integration and congruence between students,universities and corporates.The universities and corporates work in isolation.Students aren’t even aware of what they should have when entering the job market and the companies are also less aware of what skills to expect from the candidates who are to join just after college and who has no corporate exposure at all.The universities doesn’t have the perfect idea of what is expected by a practical company as they don`t integrate together in policy and decision making which has significantly caused this issue ultimately leading to unemployment and low workforce retention.

This is identified as a contemporary issue around the world and in Sri Lanka this has become a burning issue. Not only there`s a gap, it was identified by experts that the future of careers would be changing at a rapid speed which means that this would be an issue for years. But it is required to come up with solutions to face this challenge.

It is the duty of universities and higher education institutions to acknowledge and equip the students with all the relevant knowledge experience and skills to get a good job and to remain in it.Of course a university degree is worth because it provides a vast amount of knowledge but the issue here is that more weight is provided to the theoretical aspects.Universities act as the bridge between students and the corporate sector which can fill these gaps. One may blame another saying that it’s their fault, but it is not only the role of one specific party to fulfill this gap. It is the responsibility of all the three parties.

On the part of students, they should be proactive to identify the skills required by the job market and try to equip them with the support and guidance from the university and the lecturers.Students should be vigilant enough to search and identify the skills that they lack and identify ways to fulfill them.As the provider of education the university has a major role to play here.Lecturers should be trained to provide the students with what is actually expected by the job market.Significantl focus should be provided on soft skills programmes for developing soft skills considered important by corporates .Conduct assessment programs to assist their employability skills and provide opportunities like active learning with more internships,studying abroad and engagement in extra curricular activities.Take actions to develop the study of entrepreneurship so that students will become more of job providers than job seekers.This field of study is becoming more popular at present and this can be considered as a long term solution for the problem of unemployment as it creates not job seekers but job providers who create a number of job opportunities.Career counseling should be provided to the students on the path that they have selected. Corporate employers shouldn’t wait until qualified candidates come to them searching for jobs.They too have a role to play in shaping a student in making them a potential well-qualified candidate.So for that they can collaborate more with higher educational institutes to provide sponsored programs, allow students to expose to various career pathways prevelant in the industry and develop and provide workforce related educational experiences. If all key individuals in the industrial and business world genuinely support universities in producing the best products for the work-world, it will be a win-win situation for them in the long run and the country will also stand to benefit from it immensely.

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Business

SpaceX IPO debuts in US markets, Musk becomes world’s first trillionaire

Published

8 hours ago

2026/06/13

Priyan

The Musk led company sold $75bn in shares before the market debut [Aljazeera]

SpaceX has debuted on US markets with a market valuation of more than $2 trillion, minting CEO Elon Musk as the world’s first trillionaire.

Shares opened on Friday at $150 per share, marking a 11 percent increase from the initial public offering (IPO) price of $135, valuing the company at $1.96 trillion and putting the aerospace company on track to become the sixth-largest company in the United States.

The stock surged 18 percent to $159 per share, up from the $135 it had been priced at, as the trading day came to a close.

Markets more broadly ticked higher amid a possible interim peace deal between the United States and Iran that could open the Strait of Hormuz. The Dow Jones Industrial Average is up 0.6 percent, the Nasdaq is up 0.2 percent, and the S&P 500 is up 0.35 percent as trading wraps up for the week.

The company sold $75bn in shares, immediately valuing it at $1.77 trillion. The IPO was oversubscribed four times higher than was otherwise expected, according to the Reuters news agency.

Of the institutional investors allocated, according to Bloomberg News, as much as 70 percent went to what are called long-only investments — a strategy in which holders buy assets based on the expectation that their value will grow over time — and sovereign wealth funds, including those from Saudi Arabia and Kuwait as well.

SpaceX President Gwynne Shotwell and Chief Financial Officer Bret Johnsen rang the opening bell at Nasdaq MarketSite in New York City at 9:30am local time as US markets opened.

On Thursday, protesters gathered outside the MarketSite to protest the IPO amid continued allegations that Grok, part of xAI, a subsidiary of SpaceX, allowed users to create non-consensual deepfake sexualised images before the IPO debut.

Shares of SpaceX did not trade until the middle of the trading day as the exchange collected buy and sell orders and underwriters delayed trading until supply and demand were balanced.

“We would expect SpaceX to see an immediate pop in trading due to the hype around the deal, north of 20 percent perhaps,” said Samuel Kerr, global head of equity capital markets at Mergermarket. “Anything lower would actually make me nervous.”

Exchanges and trading firms are eager to avoid the technical mishaps that marred Meta’s 2012 debut. With SpaceX widely viewed as a dress rehearsal for a new generation of mega-listings, market participants will also be watching for signals on investor appetite in advance of forthcoming IPOs for AI heavyweights Anthropic and OpenAI.

The landmark listing cemented Musk’s status as the first trillionaire ever and propelled SpaceX into the ranks of the world’s most valuable companies — even though the firm posted a loss of nearly $5bn last year and generated only a fraction of the revenue brought in by similarly valued tech giants.

The surge comes amid growth driven by its Starlink subsidiary, which drives as much as 80 percent of its revenue.

On Friday, SpaceX launched its Falcon 9 rocket with 29 satellites into space from Cape Canaveral in Florida.

[Aljazeera]

Business

Indo-Lanka Chamber hosts dialogue on Sri Lanka’s investment future

Published

11 hours ago

2026/06/13

Thilina Walpola

Interactive session with Aritha Wickramasinghe

The Indo-Lanka Chamber of Commerce & Industry (ILCCI), affiliated to The Ceylon Chamber of Commerce, hosted an interactive session on Sri Lanka’s Investment Future: Policy, Opportunity & Growth at Jetwing Colombo Seven. The session was attended by Dr. Satyanjal Pandey as Chief Guest, while Aritha Wickramasinghe delivered the keynote address in his capacity as Chief of Staff to the Office of the Presidential Special Envoy on Foreign Investment, Hanif Yusoof.

ILCCI President M. Raghuraman, in his remarks, expressed appreciation to Dr. Pandey for his service during his tenure in Sri Lanka and underscored the timeliness and importance of the session topic in the context of the current global economic and geopolitical climate.

Addressing the gathering, Dr. Pandey observed that in a period marked by geopolitical and economic turbulence – reliability, trustworthiness, and secure supply chains have become increasingly important. He also highlighted the strong and growing economic partnership between India and Sri Lanka, noting several significant Indian investments in Sri Lanka, including those by ITC Limited and CEAT Limited, while indicating that further investments are expected in the future.

As a representative of the state, Aritha Wickramasinghe stated that it is the responsibility of the government to ensure that, even amid global turbulence, Sri Lanka remains stable in its policy direction, credible in its economic management, and consistent in its engagement with investors. He also emphasised the opportunities available to the Sri Lankan economy through deeper engagement with India’s fast-growing economy, noting that while India and Sri Lanka are neighbours, the relationship is regarded as one of family rather than mere proximity.

The session which included a highly engaging and interactive Q&A session with the audience, concluded with a productive exchange of views between the distinguished guests, speakers and participants, reaffirming the importance of continued dialogue and collaboration in strengthening investment and economic ties between Sri Lanka and India.

Business

Australia and Sri Lanka strengthen maritime security partnership

Published

11 hours ago

2026/06/13

Thilina Walpola

The Australian Border Force and Sri Lanka Coast Guard have launched Disi Rela 2026, marking the third consecutive year of the joint maritime security initiative aimed at strengthening maritime surveillance, operational capability, and public awareness across Sri Lanka’s coastal regions.

This year, Disi Rela 2026 expands its community engagement and public awareness activities to Sri Lanka’s Eastern Province, following successful activations conducted in the Western and Southern Provinces in previous years.

Meaning “keeping a watchful eye over the maritime environment,” Disi Rela reflects the continued partnership between Australia and Sri Lanka to strengthen maritime security, combat transnational maritime crime, and promote safer seas across the region. Through intelligence sharing, operational cooperation, advanced equipment support, and public awareness initiatives, both countries continue to work together to address threats including people smuggling, drug trafficking, illegal fishing, and other unlawful maritime activities.

Over the past three years, the Australian Government has supported Sri Lanka’s maritime security efforts under the Disi Rela initiative through the donation of 24 surveillance drones, three all-terrain vehicles (ATVs), three Stabicraft patrol vessels, and the establishment of a dedicated 24/7 hotline number — 106.

Further strengthening Sri Lanka Coast Guard’s operational capability, the Australian Government will donate an additional five all-terrain vehicles (ATVs) under Disi Rela 2026 to support coastal surveillance and rapid response operations.

In reflecting upon the continued partnership and shared commitment of both nations to safeguard Sri Lanka’s maritime boundaries and coastal communities, the Director General of the Sri Lanka Coast Guard,