The Vice President of India M. Venkaiah Naidu shared his views, addressing the International B-Schools Leadership Conclave organized by the Education Promotion Society for India in New Delhi, where he expressed that management education needs to focus more on business ethics and values due to the recent incidents of mismanagement and greed that have been witnessed which has led to business organisation failures.Addressing the event, he also sought the world community to reach a solution for helping the organizations to share information on economic offenders.
He emphasized on the importance of business education for India, being a developing economy, he shared that trained human capital in the country is needed to create growth and provide growth to the GDP. He added Indian youth should be trained with skills needed during employment for them to fit into the modern day operations.
Naidu has expressed concern over the recent incidents of indiscretion, mismanagement and greed that ruined many business organisations and individual reputation as he stressed up on the need to incorporate business ethics and values as an important and integral element of management education.
Talking about the significance of business education for developing economy like India, Naidu stressed that trained human capital was the vital strategic input for creating wealth and the growth of GDP. He said that India’s youth must be provided be trained with employable skills so that they are fit to the modern day challenges.
Stressing that 4th Industrial Revolution has alerted the world business leaders to train their employs to meet the future challenges, Naidu said that Indian businesses have also now realized that there would be a paradigm shift in the Indian job market in the coming years.
Saying that the country’s youth should not depend upon yesterday’s teachings to prepare for tomorrow’s future, the Vice President asked Business Schools to ensure that their graduates were well-equipped to take on 21st century challenges.