There ought to be innovation in education and one such could be introduction of vocational training, said Lakshmi Narayanan, Vice-Chairman, Cognizant, and president, TiE, Chennai, at a function held in the city on Monday.
“Students should be taught to work with their fingers,” he said and added that a few countries like Brazil had experimented with the same. In Finland, for example, students after a certain stage could completely give up academics to take up vocational training. Or, they could completely embrace vocational training, keeping academics off for a while.
The fruits of such flexible approach could be seen at the world skills event, wherein Finland, South Korea and a few other countries fared commendably well. India was not a force to be contended with.
He was speaking on ‘Creativity and Innovation – How it Helps Entrepreneurs', organised by the Coimbatore Chapter of The Indus Entrepreneurs.
In response to a question on fostering innovation, he said any company that was keen to innovate should create such an environment where every employee could stand up to speak his or her mind freely. And those listening should not evaluate the idea.
“In short, innovation should be in the DNA of the company.”
Internationally too companies and chief executive officers valued innovation so much so that in response to a question, top 450 CEOs across the globe said they would invest in a country where innovative talent was available.
In fact, they placed innovation above infrastructure, power, ease to conduct business, etc., he pointed out.
Such innovations could flourish in a situation where there was minimum regulation.
This was what the two Swiss banks, UBS and Credit Suisse, were concerned about when the Swiss Government tried to bring in regulatory measures.
They were not even concerned about their profits that had taken a beating in the last quarter.
Mr. Narayanan also spoke about the international economic situation, India's position there in and China's role.
A.V. Varadharajan, Chairman, Sandfits Foundries Pvt. Ltd. and Charter Member, TiE, Coimbatore, expressed his concern about the spiralling land prices in Coimbatore and said the middle class dream of a small house was almost shattered.
He was felicitated at the function by Mr. Narayanan. Anusha R. Mahesh of Park Group of Institutions welcomed the gathering.