Business Education – Way Forward
- November 8, 2018
- Posted by: RSIS
- Category: Management
International Journal of Research and Scientific Innovation (IJRSI) | Volume V, Issue X, October 2018 | ISSN 2321–2705
Prof. V. Pushpa Shetty
Aditya Institute of Management Studies & Research, Bangalore, Karnataka, India
Abstract: – Education is a dialogue of a linked chain between the past, present and the future. To quote, Aurobindo, the philosopher, “the past is our foundation, the present our material, the future is our aim and an ultimate goal. Each must have its due and natural place in the national system of education”
Post-Independence, globalization coupled with demographic dividend, innovations in research & technology, the country is getting ready to adopt strategies that will provide new horizons through education, which will help change and transform societal wellbeing and prepare the youth to shoulder the challenging future with responsibility.
Globalization generating innumerous job opportunities requires management graduates. In this scenario, management education opens up unlimited opportunities for its aspirants. With this immense demand for management professionals and subsequent mushrooming of management institutes in India, the concern is the challenges, which lie ahead of management education. Though India is conducting one of the largest systems of management education in the world, a lot remains to be achieved when compared globally. It has a crucial role in nurturing aspiring business professionals to shoulder corporate responsibilities in the changing context in a more professional manner both as Indians and global corporate citizens in the global economy.
This exploratory study envisages analyzing the demand, the need and the way forward for responsible management education to nurture the aspiring business students to meet the corporate challenges for a sustainable business and societal well-being which has drawn a lot of deliberations.
Key words: Management Education, B School, Sustainability, Globalization, Corporate Social & Environmental Responsibility
Rapid growth of globalization, fluctuating market trends and technological advancements are great challenges for business organizations to cope and sustain the global competition. A mutual relationship exists between business and society. In a highly volatile and a dynamic global market, ability to sustain global market trends and societal changes is a great challenge for a company. Recent issues of concern relating to recurring bankruptcy, scams in business and financial sectors, crisis of values & corruption in business, bureaucracy or political levels, greed for short term profit leading to exploitation of natural resources, issues of climate change and global warming etc., is continuing to influence the global economy.