Unit 1 - Social Change and its Effect on the Educational System Flashcards
This is a broad term, and every society develops and evolves uniquely as influenced by various social factors and events.
Social change
_____ is always changing in every aspect of society and is inevitable.
Change
The physical features of society are always changing as a result of _____.
economic developments
Human relationships and interactions and cultures have changed as a result of various social forces and events, observe that with the influence of _____ and _____, we expect more change to happen in the coming years.
technology; advancements in science
Sociologists generally define this as changes in human interactions and relationships that transform cultural and social transformation.
social change
The Institutions 2025 Risk Index identified _____ that continue to share, shape, and influence our society.
six megatrends
Technological advancement is impacting the finance industry as new challengers are emerging, and growing customer expectations drive significant IT infrastructure investment.
Digitalization and technological advances
The changing demographics geographical, and behavioral profiles of customers are forcing financial institutions to deal with divergent customer expectations, and new customer bases and workforces.
Demographic and behavioral changes
Talent capable of navigating a rapidly evolving financial landscape will be required to respond to increasing regulatory pressures, a changing approach to risk management, and the emergence of new markets.
Global talent and skills race
Regulation and the increasing cost of capital exert pressure on business operating structures, driving segmentation and disintermediation in the financial sector.
Business Operating Model pressures
Regulatory pressures arising from the financial crisis have increased the cost of capital, prompted large-scale divestment, reshaped attitudes toward risk, and redrawn the boundary between retail and wholesale banking.
Regulatory changes and ocmplexity
Non-bank financial institutions, fintech companies, and news investors bring fresh capital into the sector. At the same time, banks meet capital requirements, manage stress tests, and spend on compliance upgrades.
Changes in Investment, capital sources, and returns
New ways of teaching and learning must be _____ and _____.
developed; introduced
Instruction must focus on the _____ of every learner.
holistic development
_____ must be utilized to improve access to quality education.
Technology