Business Ethics and Corporate Governance, Second Edition

FUNCTIONS

According to United Nations’ Development Programme (UNDP), ‘Economic growth contributes most to poverty reduction when it expands the employment, productivity and wages of poor people and when public resources are channelled to promoting human development. A virtuous cycle of economic growth and human development arises when growth is labour using and employment generating and when human skills and health improve rapidly’.² HRD is expected to perform the following functions in developing countries such as India.

1. Help to discard outdated technology and adopt the latest technology in every sphere of human endeavour over a period of time.
2. There is now a paradigm technology shift to knowledge-based segments in industries. This shift is ...