Business Education in Digital Economy: Industry -Academia Interface

Abstract

The perfect collaboration and sync between industry and academia have been the foundation
stone for cutting-edge innovation and research leading to econ omic prosperity. The industry
academia relationship has been the interface, which has channelized and led to the creation
of knowledge and the application of it. It is said that necessity is the mother of invention. In
this space, the industrial needs have been the mother, which has been nurtured and groomed
by academia in every phase of industrial transformation. As the world is witnessing a digital
revolution, it is the responsibility of academia to groom the future leaders in each domain
like technology, finance, HR, marketing etc. to meet the industrial needs. At the same time, it
is also on the part of industries to adapt to these new technologies so as to make their
operations transparent, smooth and rapid. Through this paper, a comprehensive analysis is
being performed on finding out the gap areas and developing the expertise and leadership
competencies of all these technical as well as non-technical industrial operations by the
academia with a special focus on tier -2 cities and rural areas.