Talent is the prerequisite to successful business, said top expert of strategic development, UK professor Tom Cannon.

Speaking with students of the Economic College under the Ha Noi National University in Hanoi on Jan. 19, Prof. Tom Cannon emphasised the important role of talent, saying that the 21 st century is a period of the talent-based economy.

He called for every student to believe in their talent.

Cannon also pointed out challenges of the 21 st century such as the outbreak of the third industrial revolution and the gathering of talents from around the world.

He also cited the success of the Trung Nguyen coffee company as an example of entrepreneurship for discussion.

According to Cannon, the term of corporate social responsibility (CSR) which is not popular for Vietnamese businesses is considered an important factor in business.

Businesses implementing CSR not only contribute to sustainable economic development but also benefit themselves and ensure the social benefits of their shareholders and partners, he said.

This is the second time Prof. Cannon visited Vietnam . Earlier, the Hanoi National University welcomed US Prof. Susan Schwab who has won the Nobel Economics Prize./.