Diversity and Human Capital and Indias Workforce

Diversity and Human pileus and Indias WorkforceA diverse ethos want India not that showcases wholeness in diversity entirely besides the potential to become waves in innovative thinking. India, commodiously an agro- ground economy has ben eathg i a massive facelift in the recent decade due to the dotcom boom, giving the economy a phenomenal push. Statistics reveal that India leave be a juvenility country in the coming decades. Given the immense experience pool, diversity and youthfulness cosmos at the countrys disposal, it is only natural to predict that India will be the world-wide drawing card. At the same clock, amendments ar required to man progress these great resources in effect to deliver what we dream to achieve. Ch in allenges face up by India Inc. atomic number 18 not only commonwealth burst, corruption, terrorism, etc but also man timement of youth the immense association base available along with attitude refinement to facilitate guardianship of f riendship. The country which boasts of a plethora of natural resources should reinforce ways to impart these depleting resources and the talent pool available to the best of its potential. This paper looks into few of these issues and suggests methodologies for managing the diversity. instaurationA country similar India is a perfect example of agreement among diversity with a mix of cultures, languages, religions, age groups, etc offering a wondrous prospect to catch and garner familiarity. The country has evolved over centuries into a multi-dimensional ethos, scholarship and assimilating a vast pool of friendship. exactly turn in we succeeded in managing and utilizing this talent pool to its full potential? This provoking question leads us to the topic, Managing Diversity The Challenges Faced By India Inc.A key distinguisher and common asset, acquaintance is of importance. The healthy diversity along with a huge population does India an opportunity to grow fast. New ide as and fresh perspectives argon natural offshoots of diversity and should be seen as blessings in disguise, instead than a challenging hurdle towards growth. But in this age of information technology and speed, application of acquaintance, will majorly append to the countrys growth story. Diversity in India and its implicationsBetween 2003 and 2050, India will add closely 250 million people to its labour pool By 2020, 61% of Indians will be under 35, i.e. most 780 million Indians will be in this age group.The statistics indicate that approaching India will be home to more recent minds, thus increasing the average disposable income, and facilitating greater youth participation in decision making activities with fresh outlook. The youth and bollocks up-boomer generations unitedly can contribute a lot in adding value to the knowledge chain. The acquired knowledge should be practiced or else the country cannot thrive on the potential knowledge leaders diverse knowledge pool available.The imagination of Knowledge Learnt, Used Thrown, entrenched in the schoolboyish minds will have to be given up to produce innovators and musical theme leaders, and stress on practical application of knowledge is quintessential.Knowledge is of no value unless you allot it into practice.-Anton ChekhovLITERATURE REVIEWA knowledge economy and its attributed ability in the beginning depend upon 4 key pillars listed by The World Bank as knowledgeableness, Education, Information Communication Technology (ICT) and Economical Incentive Regime (EIR) under the Knowledge Assessment Methodology (KAM) and Knowledge Economy Index (KEI). This index ranked India at 101 indicating a large scope for amelioration on the knowledge front. As per our analysis, innovation has the highest weightage in the methodology concurd. sample distribution data shown below Innovation or the pi 1ering application of knowledge has a great impact on the countrys overall knowledge economy index. The component towards patents is closely related. Patent data largely by the US (KEI pasture 10).In context with the categories of knowledge-based assets, two broad classifications have been made hard-core or silent. Included among the former are patents, trademarks, etc i.e. things that can be archived and codified. more than harder to grasp and record is tacit knowledge, which leads to knowledge creation. The challenge inherent with tacit knowledge is figuring out how to recognize, gene deem, and share it. The basic framework that employs knowledge creation as a minatory box driving economical growth is usually called the endogenous growth example. The literature using this black box includes Shell (1966), Romer (1986, 1990), Lucas (1988), Jones and Manuelli (1990), etc.The basic variable of study is a knowledge worker (or K-worker). Every time a K-worker researches with their best partner(s) the tonic knowledge jointly created becomes shared knowledge, thus dynamicall y builds up knowledge in common. Heterogeneity in K-workers provides an opportunity to cooperate and is endogenous to the model. In this way, the heterogeneity or diversity of all K-workers changes endogenously over time. Thus, a coalition in knowledge creation is most productive when common and una kindredial gear knowledge are in relief.From a birds eye view, the ability of a nation to use, synergize and create knowledge capital determines its capacity to empower its citizens. aptly in the words of Dr. Manmohan Singh, Prime Minister of India, The time has come to create a second wave of institution building, and of excellence in the palm of preparation, research and capability building so that we are mend brisk for the 21st century. India today require a well defined knowledge-oriented ikon of development to provide a competitive advantage in all the fields.The National Knowledge Commission (NKC) in India has been entrusted to study the parameters and suggest corrective measures to give India the competitive knowledge edge in the coming decades. The KEI model of World Bank has been re-visited from the Indian context introducing various parameters which make credible sense in the country. The modelMETHODOLOGYThe paper explores both perceptible and intangible parameters for enhancing the knowledge capital in India. The world in future will be driven by a knowledge-base economy and this impression is not foreign to India. Indias history is marked with events that reinforce the countrys potential to learn and showcase unity through diversity. Think about the Indian struggle of Independence and it will make sense.India is and will remain for some time one of the youngest countries in the world. This demographic dividend is seen as an opportunity to accelerate the countrys rate of growth. We have a critical mass of skilled, English-speaking knowledge workers. The knowledge economy of the twenty-first century demands competencies not only in the fiel d of operation of ICT but also in group knowledge, risk-taking ability, tolerance to multicultural views, learning from nature and synergizing to innovate.The gathered knowledge involve to be efficaciously channelized, employ and disseminated to the people of this country. This eventually increases the common knowledge pool and benefits the economy as large. The scriptures, conventional knowledge and the baby boomer generation help us to think in a holistic manner for applying the knowledge. The attitude of young minds, if nurtured in the right way, can produce a compulsive impact. standardised Victoria Abril puts itKeep your ears open, your eyes open, grab all(prenominal)thing you can, react, and learnThe countrys youth should be encouraged to research and get an insight on various subjects to carriage real life challenges through innovative methodologies. Traditional scriptures like the Vedas are treasure chests of knowledge and apprise us how to deal with state problems , how to teach and grow, etc. They should be shared with the common man, to enable him to think and expend age old wisdom in an age of intense competition. In Sanskrit, the importance of knowledge is advertd as Nahi Jnanena SadrshamNothing is equivalent to knowledgeFINDINGS compendiumA burgeoning young human capital is bound to have positive implications on the economy. If not tended well, this boon can turn into a bane. The age distribution of India is projected to change by 2020. The population in the age group 15 -59 years (currently 58 percent) is projected to increase to about 64 percent. This shift is shown below India would then have a freehand mix of youth and grey-haired wise men to share different views and synergize to suggest solutions by application of their acquired knowledge. But, this upcoming bulge will also have its own set of ideologies thoughts and would thus have to develop a tolerance level and attitude to learn from their older generations about the van ities and gyan of life. The baby boomers have retained knowledge imparted to them about 80 years guts and continue to apply them in real life problems. The youth call for to appreciate this and concentrate on application of gathered knowledge rather than garner degrees. The flip side is that the countrys education system forces one to take more and remember the same till exams.The classroom learning limits the students perception. The lessons are merely learnt, used thrown today. More nature and environment based learning would give students a fresh perspective. QUALCOMM has pioneered and introduced solutions inspired from nature like Low-friction ship hulls inspired by shark skin, etc. If all the young minds of India can be guided to think this way, imagine what wonders can be created. The knowledge imparted and discussed should be taught along with examples from diverse backgrounds.At graduation level, students should be encouraged to pursue research work apply knowledge crea tively, and scotch in good communication. These are imperative for attitude refinement of individuals which needs tendering to keep them receptive to ideas. This could proactively nurture entrepreneurs at an early stage. Today with a demand driven economy, there is a tendency of people to learn, use throw (forget) the acquired knowledge and comment it doesnt matter well start anew and learn fast. For facilitating retention, reframing teaching patterns is equally important along with stuffing of students.This grooming would include exercise based teaching, vocational training and soft skills training. The enjoyment of reading gaining perspective about varied issues is dwindling and should be show at an early age. We need to bam a healthy balance between self made efforts outsourced tasks to help develop a shrewd outlook on activities around us. This is imperative for creating a sustained cell of knowledge workers. It is clear that workers with equal unequal skill sets creat e better synergy and lead to value addition in knowledge pool.The overall literacy rate in India is highly unsatisfactory. There are areas in India where the teemingness of knowledge gets eclipsed by the inability to communicate. Due to this disparity, thoughts and ideas are stalled without getting discussed. much(prenominal) barriers need to be removed, to educate and tap the knowledge base available. Socrates subtly quotes,The only good is knowledge and the only evil is ignorance.Illiteracy is one of the acclaimed evils in society. The initiative to educate is not with the Government alone but requires active support from every citizen. Empowering minds and sharing knowledge will aver the Indian growth story and make it flourish. Management of gargantuan diversities like India will be effective only when citizens rightfully learn, teach apply acquired knowledge for betterment of the country at large.Diversity in population provides an excellent opportunity to explore and learn. A clichd process tycoon be holistically applied for a different cause to apply, learn and grow. If, like the IT companies the concept of collating ideas can be practiced at the national level it would keep the minds of people busy and help everyone learn more from the environment and contribute more. Heterogeneity plays a major role in this context. The quote below from Mahatma Gandhi states how important it is to share knowledgeIf you give me rice, Ill eat today if you teach me how to grow rice, Ill eat every day.Innovation in a developing nation requires a favorable climate, one that is free from bureaucratic regulatory obstacles and fosters interactions across boundaries. The sources of knowledge might be universities, research institutes, think tanks, etc but the right to information is the prerogative of every individual. With this, we conclude our paper and hope to ignite thoughts through an insightful Sanskrit shloka about knowledgeCONCLUSIONIndia has showcased unity int egrity for umpteen causes. Now she is faced with the new challenges of growing population and managing knowledge. For the nation to become a leader in knowledge based economies, the same commitment and unity needs to be shown by each citizen. Today in an intense world-wide market, few variables will give India a competitive advantage. Lifelong learning, youth population and synergy between diverse cultures and attitude to learn, to name a few.In the next few decades, India will have a large youth base. Given this demographic advantage over other countries, we are optimally positioned to establish a knowledge-oriented paradigm of development. An economy that creates, acquires, manages, adapts, and uses knowledge effectively for its economic development, can overcome many challenges while its individuals learn, retain and re-use the knowledge base to innovate and grow perpetually. In the words of our Prime Minister, to bound in the race for social and economic development.The attitu de towards learning would also differentiate a country as a trend-setter. Inventive education patterns, fighting illiteracy, and application of knowledge are important tasks for India Inc. amidst exiting challenges. The proactive date of elder generations in designing learning programs for students and future managers, to incorporate their traditional wisdom and insights on real life challenges is important.In short, the message is to learn, share, apply and manage through diversity and adversity. Hope and inspiration along with lettering to the task are equally important to the success of a vision. This thought has been beautifully quoted by the former Indian President and visionary Dr. A P J Abdul Kalam in his book Wings of Fire,For all your days prepare,And treat them ever alike,When you are the anvil bear,When you are the hammer strike