Abstract:- The services sector is the single largest contributor to economic growth and employment. It is widely recognized and deliberated upon that the global importance of service sector in terms of its share in Gross Output has been growing progressively in the economies of the world. The objective of this paper is to make an assessment of the importance of the service sector in indian economy.
INTRODUCTION:-
The tertiary sector of the economy (also known as the service sector or the service industry) is one of the three economic sectors, the others being the secondary sector (approximately the same as manufacturing) and the primary sector (agriculture, fishing, and extraction such as mining) The service sector consists of the "soft" parts of the economy,
…show more content…
Sandeep Bansal:- His paper presents economic development has been associated with structural changes in the national economies. On the path of its economicdevelopment, India has reached a level where there is predominance of service sector and it has become the mainstay of the growth process especially over the last ten years the well known sequence of structural transformation from agrarian economy to a predominantly service economy en route industrial economy as noticed in the developed world has not been witnessed in India So, without the growth of agriculture and industry, this sector alone cannot sustain its growth for the long run due to the high backward and forward linkages of agricultural and industrial sector. The gap between income of agriculture and services will also keep on increasing unless growth is accompanied by an increase in employment share of services. The fast-growing sub-sectors, such as, IT have already revealed differentials in earnings, with a few jobs in high-tech activities with very high salaries and benefits, on the one hand, a large mass of low earning jobs in the informal sector on the other. This pattern is attributed to the poor performance of the industrial
Tertiary sector of industry also known as the service sector or the service industry is one of the three main industrial categories an a economy, the others being the secondary industry manufacturing, and primary industry extraction such as mining, agriculture and fishing The tertiary sector of industry involves of providing a services or a product to businesses as well as final consumers. Services may involve the transport, distribution and sale of goods from producer to a consumer as may happen in wholesaling and retailing.
I shall look finally, and briefly at the performance of the service sector with regard to its contribution to, and correlation with, the aggregate and industrial growth in output and productivity, before concluding that the service sector was the major contributing factor to the UK falling behind it counterparts. Despite this, the relatively small amount by which the economy fell behind is indicative of the over-exaggeration of the problem of British decline.
They are, financial services, healthcare, professional and technical services, retail trade, manufacturing, and educational services. Lastly i’m going to tell
Firstly, industrialisation has expanded the employment opportunities in India. People living in rural areas have moved to cities in search of better employment.
Now that the United States has changed from an industrial based economy to a more service oriented economy, it means that our economic revenues are now primarily comprised by the prevalence of intangible assets, provided by services and technology for example, and less by tangible assets by means of physical labor in factories and other manufacturing industries. Because of this change, industrial production and output have been experiencing a major falloff as jobs in factories, farms, and mines that were once plentiful, are being eliminated, while jobs in the growing services sector, such as in technologies, telecommunications, and entertainment are experiencing a massive growth.
[6] Kripalani, Majeet & Egnardio, Pete. The Rise Of India. Business Week Online. December 8, 2003. http://www.businessweek.com/magazine/content/03_49/b3861001_mz001.htm
...an HDI of 0.36. These discrepancies in levels of development have led to an exodus of people, from less developed areas to the areas that have been benefitted by development. This situation seems to depict that predicted by the Dependency theory in which the developed countries progressed due to the exploitation of peripheral nations; the same seems to be happening in India. The states that are wealthier are exploiting the poorer states. It would be difficult to imagine India having the economic status that it now has, if it was not for the terrible working conditions and wages at which the Indians are willing to work and the massive work force available in the country. Now that India has seen economic growth the government should start taking care of its citizens by implementing policies that protect the labor rights of the workforce.
This sector represents the trade that a country engages in with another country. If, for example, Australia purchases electronic equipment from China, it is called an import, ...
A service is something that cannot be touched. This means that it is harder to market, than a physical Product. Its quality cannot be perceived before it is used. This can complicate convincing a potential tourist to acquire the service and to choose one service offering over any other.
The terms primary, secondary and tertiary relate to different sectors of the economy. Wikipedia describes the primary sector of the economy as the sector of an economy making direct use of natural resources. This includes agriculture, forestry, fishing and mining.
The Service Sector, High employment with low productivity growth prospects for emerging economies. (2010). Accountancy Business and the Public Interest , 9, 125-146.
Customer service has been around for many years. When customer service first came into place in the business world, it was in stores. In society today customer service is with any job with any company. “Customer service is not a department, it’s everyone’s job. -Anonymous”. (Walter). Customer service is taking care of your customers. Every customer needs to be treated the same with excellent customer service no matter the business or the age of the customer. All employees need to adapt to each customers’ needs in order to provide the best experience possible.
(1) efforts to improve the quality of their services, and (2) efforts to market themselves more effectively. Both service quality and services marketing have received considerable attention from researchers over the years and the application of these concepts in the service settings is therefore not surprising (Parasuraman et al., 1985; Rust and Oliver 1994; Zeithaml et al., 1990). One evidence of the importance of service quality and service
The growth of services sector in our economy is a step forward in the development of Indian economy. In day to day life of an individual the use of mobile phones acts as necessity in getting connected with people for one or the other purpose. India has a largest variety of smartphones available for the users. Because of the fast technologies in smartphones & in market, the networks and services providers of telecom must be updated so as to meet the requirements of people. Indian telecommunication industry is considered to be one of the fastest growing telecom industries in the world. The mounting up of the subscribers reaches to an approximate 800 billion plus users in telecom sector. The industry is growing at as pace in such a way that it will reach a level beyond the telecom markets of USA &
Service management is refers to the chain management system which established the relationship between the organization and consumer. It is integrated into supply chain management system when the actual sales and customer intersect. The aim of service management system is to provide the best services to the customer through their performance. The high performance of service management can ensure the optimum services to their customer in a complex manner than the typical supply chain. Most of the time, the organization requires larger inventories and strong integration with different system and innovation. They have to be prepared with advanced information and high performance to accommodate inconsistent and uncertain demand. Moreover, Service Management must be coordinated across numerous services with large number of parts and different level of the supply chain.