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CORPORATIONS BUILD THEIR OWN UNIVERSITIES
Corporations are increasingly establishing universities as a way
to train employees. Currently, 1,600 corporate universities exist
in the U.S., and 40 percent of Fortune 500 companies have
universities. Companies in western Europe and Latin America are also
joining the university trend. Recent mergers have underscored the
importance of corporate universities. For example, Daimler-Chrysler
CEO Jurgen Schrempp in a Chicago speech emphasized the role of
Daimler's university in unifying the merged Daimler and Chrysler
companies. Schrempp says the university will help instill the two
companies with a common culture. Also relying on a corporate
university is Citicorp's merger with Travelers Group, which will use
the university to train employees in cross-selling each other's
products. Many use the Internet, which provides a simpler, less
expensive
way for companies to provide all of its workers with training. Since
many employees expect their companies to provide them with skills
for their next jobs, many corporate universities attempt to offer actual
degrees,
often by joining with conventional universities.
(Financial Times
04/26/99)
Contact F. David Peat
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