Service Indusrty

I often feel that most of the wealth creation these days is through services..Service industry is booming. Think who is benefiting from this??? Major service industries are IT, banking and Telecoms. these industries provide support function and does not result in any real production. The economic balance and sustainability can only be achieved, when the key sectors like Agriculture and manufacturing takes back seat. It is believed that doveloped economy will have major contribution of service industry in its GDP (in excess of 70%), as we see this trend in US and other developed economy. I feel that it is wrong and this equation of core sectors (Agriculture and Manufacturing) and support sector (Service industry) is not sustainable . A support function can never replace or supersede core function.

while postulating this, imagine what could be the extant of value added by these services, computing in case of IT industry, communication in case of telecoms and lending & transaction in case of banking.
If we take world as a unit economy (for simplicity of understanding), if service industry makes 70% percent of all monetary transactions it means 30 % of transaction results into real creation (production).
Now imagine a production unit where in out of total cost of production 30% is direct cost and 70% is indirect cost. Can you think of any efficient industry which would be having this ratio of costs. will that unit be sustainable will it be efficient???? while thinking this also understand that we are talking about a single unit so it implies in monopoly.

In order to have a stable and sustainable and economy the percentage contribution of agriculture, manufacturing and service industry would have to be aligned, for sustainability the percentage share of service industry will have to come down drastically.

Inflation, sub-prime, NPA and market crash would always be haunting such unbalanced economies.

Nothing-1

Yesterday I went through the blog of Aamir khan and Amitabh bacchan. I felt that they are following my style of blogging ;-) and even AB called me last night to ask what he should write in his blog today, he said I am his teacher so he got the idea of writing about Drona......
He keeps on pestering me again and again.
But i will not reveal anymore.
There is another new student of mine wants to start blogging. her name is Uzma Qumar. I would have to teach her nuance of blogging now. Koi baat nahi "Knowledge must spread".
I woke up today at around 8 am and started to get ready in hurry as I was having breakfast, it started raining. it was a hail Storm. than i again slept for 2 hours.
I have not studied since last three days. My average study hour has fallen down for this month :-(
I ran 5 km today with an average speed of 8.8 km per hour. ha ha ha..... Even I took three of my colleagues for gym registration and from tomorrow they will be joining me.
I intend to sleep early today I will try to wake up early to study...................
Oh I will have to close now I am getting calls from AB, I think needs some help now.

TC

Passion at Work...

I went for a two days training in Jaipur. The agenda was Passion at work... It seems that after the financial year end, post distribution of booties amongst employees, after one year of toil and hard work, The employees have lost all the passion towards work..(No need to tell why.. Thanks to Mr. Ram Kumar, the chief HR manager of ICICI bank.)

As usual we had training in ILC Jaipur. training was conducted by Mr. .........., an IIT and IIM-C grad. with more that 30 years of experience. The content of programme was very good from individual development perspective though it had strategic importance from HR vantage point as it intended to convince and justify the poor rating given to employees. The training was very engaging we completed 4-5 group activities which were very useful and pertinent to the context of training.

we were told what the passion is actually: they say that passion is a triangle and three vertices being setting high standards, never give up attitude, and giving 100%.

during one of the activities we were asked to make a painting, I made a cut-out out of sheet of paper depicting a rock climber, climbing an steep cliff. The piece turned out to be wonderful.

the session was ended with the movie Goal (Football movie). The movie was amazing. I will be writing more about it and updating it later on.. I have to sleep now as it is 0141 hrs.