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D. ZAK, M&M/Mars, M&M/Mars, 800 High St., Hackettstown, NJ 07840

Students in transition: From science to psychology

"Be cool, stay in school to retool." That's the advice of Price Prichett and Ron Pound. Tom Peters indicates that individuals need new skills every 18 months to keep pace with the rapidly changing world. Knowledge is more valuable and more powerful than natural resources, big factories, or fat bankrolls according to Bassi et. al. While technical skills, particularly those of newly hired graduate students are generally good, universities need to improve business survival skills like communication and influencing skills, business financial metrics, collaboration and teamwork, time sensitivity, and computer modeling. To stay competitive industry currently invests in excess of $55 billion in employee training annually. Further enhancement of technical skills accounts for 30 % ($16.5MMM) of this investment followed by professional development, computer literacy, managerial/supervisory training and regulatory compliance at 19%, ($10.5MMm), 8%, ($4.4MMM), 7% ($3.9MMM) and 7% respectively.