The business world is changing very rapidly. The last quarter century has witnessed a remarkable change in how business is run in India. A preponderance of the companies in-owners, we are witnessing a steady shift to professional management.
The main goal of a developing country like India, is to achieve rapid, balanced and sustained economic growth rate, which must be consistent with the principles of democracy, ensuring that the economic tasks will be fully in accordance with the interests of humanity. Economic development if designed without adequate social change soon becomes stagnant. The economic reforms initiated in 1991 have made India one of today’s major economies of the world.
Economic growth refers to an increase in a country of production or income per capita, with the economy of the total output of goods and services as measured by the Gross National Product (GNP). At this juncture, our economy needs more than growth. Economic development on the other hand goes beyond economic growth to include changes in production, distribution and economic structure that can affect things like improving the material welfare of the poor, technical progress, increasing the economic activities and the increase in the level of education and improved health.
The factors contributing to the economic development work, technology, natural resources, capital and entrepreneurship. The success of new businesses and economic development does not just happen. They result from a combination of environment, planning, effort and innovation. New business formation is the result of an excellent human talent with technology developed to provide an added capital and other infrastructure needed to create a development process. This combination can only be achieved by employers. India today has all the elements necessary to be an economic giant, a large technically skilled workforce, a large consumer base and a strong financial structure.
India industries and companies operating in an environment totally different from that in which American, European or even Japanese entrepreneurs. We have problems of mammoth population, poverty, illiteracy, unemployment and stagnation. This, coupled with an acute shortage of resources, management of calls for ingenious what is available for the welfare of one and all. Unfortunately, a pan of our best talents, ie., Young graduates, and others still unexposed to these problems. The objective of the business education of the teaching of the textbook is excellent, effective and efficient use of available resources. The goal in general is a maximization of profits. What is needed today is a change in the thinking of the narrow scope of the company to a broader concept of prosperity across the nation. The purpose of education should not only teach entrepreneurs generating wealth but also its distribution to ensure the welfare of a country of production or income per capita, with society in general.
A company is only a sub-organization of society. The company is the largest type of organization with goals of production, distribution and alignment of individual relationships. If the objectives of the other party to the joint part to die sooner or later. Therefore, employers need not think only in terms of business but also social welfare. To this end, we need social entrepreneurs, social responsibility, a broad perspective and an Indian personality. These entrepreneurs will combine the business sense of entrepreneurship.
The current system of education in our country to instill the vision of young students. Careerism is the basic philosophy of today’s students. Most graduates prefer jobs with multinational companies. Rarely join the sectors may be less rewarding financially, but socially more successful. This mentality is partly a product of social norms and, in part because of the education provided to them. Therefore, we need a new model of education in this country that could lead to employers who have a larger vision to society.
A student must not only receive training in technical and management aspects, but also a population, poverty, illiteracy, unemployment and sense of morality and ethics. If the education system does not achieve its goal of imparting knowledge with values – they are taught not only the media and the ruling of good and evil, the result will be a herd of competent but confused and professional direction. Unfortunately, that is the state of affairs in India today. In this context, both institutions and educators need to critically examine illustrated its crucial role in the successful development of the citizens of tomorrow.
Unfortunately the education system today has degenerated into a process of transmitting information. Instilling the value is largely ignored. Needless to say, even the development of skills is not up to the mark. Education should also focus on social, moral, aesthetic and spiritual sides of a personality of individuals. These have been largely ignored in education today.
Education as described above will prepare the entrepreneurs of tomorrow that is mixed with corporate social responsibility. They still maximize profits, but for the sake of society and not at the expense of society. The harmonization of different forces and interests is an essential part of management. Harmonization is always better than the competition. A system of indigenous education entrepreneurs boyfriend to replace competition with harmonization. They will be able to align individual, organizational and social objectives.
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