Business Education is about to witness a paradigm shift
Have you ever heard of the scientific term “Paradigm shifts”? Do you know how Paradigm shift can bring an innovative change in the field of Business Management? Do you want to see the role of Paradigm shifts in your Business Education? If yes, then have a look at this article as it will explore the definition of the term Paradigm and explains the relationship between Paradigm shifts and Business management..
Innovations and Paradigm shift are always an essential part of our society. Many of you are thinking about the word “Paradigm shift”. So, let me first tell you little about this word Paradigm shift- “Paradigm shift is a concept, which was introduced by an American physicist and philosopher Thomas Kuhn, which means an elementary change in the basic concept and experimental practices of the scientific discipline”. Here in this article, we’re going to discuss the role of Business education in the Paradigm shift.
A paradigm is a group of ideas which tells how things should be done, made, or thought about. In other words, we can say, it's your panorama on the world, your point of view, or your beliefs about what is right and what is not true. A paradigm shift creates whenever there's an essential change in the way an individual or a group consider something, and the old paradigm is changed by a new way of thinking and belief.
With this term “Paradigm shift”, we simply understand that it belongs to changes and innovations that have come in different eras along with the change of time. The theories regarding Paradigm shift has been refining with the passing of time, and the new Paradigm theory reveals the work to stimulate the development of new product markets opportunities which accompanied with new strategies and capabilities.
Indian Council for social science research sponsored 1st international conference “Paradigm Shift in Innovative Business Management” in which 200 papers and II International Conference garnering more than 300+ research papers from across the world and scholarly participation, embarking pedagogic innovations and encouraging business-academia interface were encouraging and motivated efforts to make forum for the demonstration of new advances and research results.
The main motive of this conference was to present a suitable and conducive platform to discuss and debate on the contemporary research in the field of economics, commerce, business approaches, and functional area of management and on inclusive and sustainable growth. In this conference, many leading Academicians, Business managers, PhD research scholars and students from reputed universities all around the world and industries’ owners were gathered there and shared their experiences. Along with this, they also suggested and introduced their new ideas and innovations or research results about Management and Education.
Due to lack of trust in consumers in financial institutions after the global economic crisis, the financial services marketing is in need for Paradigm shifts. With the rate of development of new technologies and innovations, the paradigm shifts are expected to become essential and universal. A paradigm shift is known for giving lots of business opportunities in several fields as it works on the basic concept that is innovation or we can say, innovation leadership sees opportunities from single Paradigm shift across multiple areas.
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