World needs business leaders who can look beyond short-term profit: Naidu

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New Delhi, Apr 27 (PTI) Vice President M Venkaiah Naidu on Tuesday asserted that the world needs business leaders who can look beyond short-term profit and work for long-term sustainability.

Inaugurating 'Indian B-Schools Leadership Conclave' virtually, Naidu cautioned that the pursuit of development should not come at the cost of the environment. Drawing attention towards the issue of global warming and consequential increase in the frequency of natural disasters, he said it has impacted businesses as well.

The vice president said India's B-schools play a vital role in the country's economy and society because future managers, leaders and innovators are groomed and trained there, an official statement said.

Emphasising that education must be socially relevant, he urged the young management students to visit nearby villages to study and identify rural India's business and social problems and come up with viable solutions for them.

Appealing to the young managers to have a larger vision of nation-building through businesses, Naidu said 'Building character, imbibing values and inculcating empathy in budding managers should be the priority of our business schools for a better and happier world.' On the issue of employability, the vice president referred to India Skills Report 2020, which pegs the employability of MBA graduates at 54 per cent in the country.

Urging the B-schools to think of ways of bridging this gap between enrollment and employability, Naidu called for increased interaction between academia and industry so that students get exposure to real life situations and hands-on learning. He also underlined the importance of enhancing soft skills of students which form an integral part of the overall make-up of a successful manager.

Recognising that COVID-19 is forcing educators and students to adapt to the virtual medium, Naidu said that this sudden shift towards online mode of interaction has also posed several challenges.

He advised the faculty of B-schools to focus more on mentoring and guiding rather than lecturing and instructing.

'Even in the virtual context, learners need to experience navigating their way in the new normal and learning critical thinking and independent decision-making skills,' he added. PTI NAB AAR AAR