The service sector now accounts for more than half of India's GDP: 51.16 per cent in 1998-99. This sector has gained at the expense of both the agricultural and industrialsectors through the 1990s. The rise in the service sector's share in GDP marks a structural shift in the Indian economy and takes it closer to the fundamentals of a developed economy (in the developed economies, the industrial and service sectors contribute a major share in GDP while agriculture accounts for a relatively lower share).
The service sector's share has grown from 43.69 per cent in 1990-91 to 51.16 per cent in 1998-99. In contrast, the industrial sector's share in GDP has declined from 25.38 per cent to 22.01 per cent in 1990-91 and 1998-99 respectively. The agricultural sector's share has fallen from 30.93 per cent to 26.83 per cent in the respective years.
Some economists caution that if the service sector bypasses the industrial sector, economic growth can be distorted. They say that service sector growth must be supported by proportionate growth of the industrial sector, otherwise the service sector grown will not be sustainable. It is true that, in India, the service sector's contribution in GDP has sharply risen and that of industry has fallen (as shown above). But, it is equally true that the industrial sector too has grown, and grown quite impressively through the 1990s (except in 1998-99). Three times between 1993-94 and 1998-99, industry surpassed the growth rate of GDP. Thus, the service sector has grown at a higher rate than industry which too has grown more or less in tandem. The rise of the service sector therefore does not distort the economy.
Within the services sector, the share of trade, hotels and restaurants increased from 12.52 per cent in 1990-91 to 15.68 per cent in 1998-99. The share of transport, storage and communications has grown from 5.26 per cent to 7.61 per cent in the years under reference. The share of construction has remained nearly the same during the period while that of financing, insurance, real estate and business services has risen from 10.22 per cent to 11.44 per cent.
The fact that the service sector now accounts for more than half the GDP probably marks a watershed in the evolution of the Indian economy.
Tuesday, October 6, 2009
The Service Sector in Indian Economy
Thursday, September 24, 2009
Definition of Operation Research
► Operation Research is a scientific approach to problem-solving for executive management.
- H.M. WAGNER
Techniques of O.R.
► Inventory Model
► Replacement Model
► Simulation Model
► Networking Model
► Queuing Model
Inventory Models
► The inventory models deal with the determination of optimum levels of different inventory items and ordering policies, optimizing a pre-specified standard of effectiveness. It is used in calculating various important decision variables such as :-
1. re-order quantity,
2. lead-time,
3. economic order quantity and
4. the minimum, maximum & the average
level of stock keeping.
Replacement Models
► These models are concerned with determining the optimal time required to replace equipment or machinery that deteriorates or fails. Hence it seeks to formulate the optimal replacement policy of an organization.
Simulation Models
By simulating the organizational problems, the various decisions can be evaluated and-the risks inherent in actually implementing them is cut-down or eliminated.
Simulation models are normally used for those kinds of problems or situations which can not be studied or understood by any other technique.
For example, to study the environment at the planet Jupiter or Venus, simulation-models are the only option available to a researcher.
Networking models
► Networking models are extensively used in planning, scheduling and controlling complex projects which can be represented in the form of a net-work of various activities & sub-activities.
Two of the most important and commonly used networking models are –
1. Critical Path Method (CPM) and
2. Programme Evaluation & Review Technique (PERT).
Queuing Models
► Any problem that involves waiting before the required service that could be provided is termed as a queuing or waiting line problem. These models seek to ascertain the various important characteristics of queuing systems such as :-
1. average time spent in line by a customer,
2. average length of queue etc.
► Operation Research is a scientific approach to problem-solving for executive management.
- H.M. WAGNER
Techniques of O.R.
► Inventory Model
► Replacement Model
► Simulation Model
► Networking Model
► Queuing Model
Inventory Models
► The inventory models deal with the determination of optimum levels of different inventory items and ordering policies, optimizing a pre-specified standard of effectiveness. It is used in calculating various important decision variables such as :-
1. re-order quantity,
2. lead-time,
3. economic order quantity and
4. the minimum, maximum & the average
level of stock keeping.
Replacement Models
► These models are concerned with determining the optimal time required to replace equipment or machinery that deteriorates or fails. Hence it seeks to formulate the optimal replacement policy of an organization.
Simulation Models
By simulating the organizational problems, the various decisions can be evaluated and-the risks inherent in actually implementing them is cut-down or eliminated.
Simulation models are normally used for those kinds of problems or situations which can not be studied or understood by any other technique.
For example, to study the environment at the planet Jupiter or Venus, simulation-models are the only option available to a researcher.
Networking models
► Networking models are extensively used in planning, scheduling and controlling complex projects which can be represented in the form of a net-work of various activities & sub-activities.
Two of the most important and commonly used networking models are –
1. Critical Path Method (CPM) and
2. Programme Evaluation & Review Technique (PERT).
Queuing Models
► Any problem that involves waiting before the required service that could be provided is termed as a queuing or waiting line problem. These models seek to ascertain the various important characteristics of queuing systems such as :-
1. average time spent in line by a customer,
2. average length of queue etc.
Wednesday, September 23, 2009
Meaning
A policy is a predetermined course of action to guide the performance of work towards accepted objectives.
HR policies lay down the criteria for decision making in the field of HRM.
Features
Based on objectives
Long lasting
Standing plans
Guides in decision making
Formulation and approval
Types of HR Policies
1. Originated policies
2. Appealed policies
3. Imposed policies
4. General policies
5. Specific policies
6. Written or Implicit policies
Need of HR Policies
1. Clear thinking
2. Uniformity and consistency of administration
3. Continuity and stability
4. Delegation of authority
5. Control
6. Prompt decision making
7. Teamwork
Limitations of H R policy
Less flexibility
High cost for formulation
High time in formulation
High energy in formulation
It can not cover all the problems
It can not change before certain time
A policy is a predetermined course of action to guide the performance of work towards accepted objectives.
HR policies lay down the criteria for decision making in the field of HRM.
Features
Based on objectives
Long lasting
Standing plans
Guides in decision making
Formulation and approval
Types of HR Policies
1. Originated policies
2. Appealed policies
3. Imposed policies
4. General policies
5. Specific policies
6. Written or Implicit policies
Need of HR Policies
1. Clear thinking
2. Uniformity and consistency of administration
3. Continuity and stability
4. Delegation of authority
5. Control
6. Prompt decision making
7. Teamwork
Limitations of H R policy
Less flexibility
High cost for formulation
High time in formulation
High energy in formulation
It can not cover all the problems
It can not change before certain time
Tuesday, September 22, 2009
Meaning
n Plant layout refers to the arrangement of physical facilities such as machinery, equipment, furniture etc. with in the factory building in such a manner so as to have quickest and smoothest production at the least cost.
Definition
n According to J. L. Zundi, “Plant layout ideally involves allocation of space and arrangement of equipment in such a manner that overall operating costs are minimized.
Types of Layout
n Product or line layout
n Process or functional layout
n Fixed position or location layout
n Combined or group layout
Product Layout
n Also known as straight line layout.
n Machines and equipments are arranged in one line depending upon the sequence of operations required for the product.
n Materials move by units in a product line, not by lots.
Process Layout
n Also called functional or batch production layout.
n Machines of a similar type are arranged together at one place.
n Materials move by lots.
Fixed Position Layout
n Also known as fixed location or static layout.
n The major component remains in a fixed location. Equipment, labor and tools are moved to that location. All facilities are brought and arranged around one work center.
Combined Layout
n Also called Group or Hybrid Layout.
n In most of industries, only a product layout or process layout or fixed location layout does not exist. Thus, in manufacturing concerns where several products are produced in repeated numbers with no likelihood of continuous production, combined layout is followed.
Conclusion
n The efficiency of production depends on how well the plant layout is designed. Therefore, the layout that produces the desired volume of products at the least cost is preferred.
n Plant layout refers to the arrangement of physical facilities such as machinery, equipment, furniture etc. with in the factory building in such a manner so as to have quickest and smoothest production at the least cost.
Definition
n According to J. L. Zundi, “Plant layout ideally involves allocation of space and arrangement of equipment in such a manner that overall operating costs are minimized.
Types of Layout
n Product or line layout
n Process or functional layout
n Fixed position or location layout
n Combined or group layout
Product Layout
n Also known as straight line layout.
n Machines and equipments are arranged in one line depending upon the sequence of operations required for the product.
n Materials move by units in a product line, not by lots.
Process Layout
n Also called functional or batch production layout.
n Machines of a similar type are arranged together at one place.
n Materials move by lots.
Fixed Position Layout
n Also known as fixed location or static layout.
n The major component remains in a fixed location. Equipment, labor and tools are moved to that location. All facilities are brought and arranged around one work center.
Combined Layout
n Also called Group or Hybrid Layout.
n In most of industries, only a product layout or process layout or fixed location layout does not exist. Thus, in manufacturing concerns where several products are produced in repeated numbers with no likelihood of continuous production, combined layout is followed.
Conclusion
n The efficiency of production depends on how well the plant layout is designed. Therefore, the layout that produces the desired volume of products at the least cost is preferred.
Sunday, September 13, 2009
Dr. k AnjiReddiAchievements
Achievements: Founder-chairman of Dr Reddy's Group of Companies; Awarded with Padma Shri in 2001. Dr. K. Anji Reddy is a pioneer in the pharmaceutical research in India and is founder-chairman of Dr Reddy's Group of Companies. Dr Kallam Anji Reddy did his B.Sc in Pharmaceuticals and Fine chemicals from Bombay University and subsequently completed his PhD in Chemical Engineering from National Chemical Laboratory, Pune, in 1969. Dr. K. Anji Reddy served in PSU Indian Drugs and Pharmaceuticals Limited from 1969 to 1975. Dr. Reddy was the founder-Managing Director of Uniloids Ltd from 1976 to 1980 and Standard Organics Limited from 1980 to 1984. In 1984, Dr. K. Anji Reddy founded Dr. Reddy's Laboratories and soon the company established new benchmarks in the Indian Pharmaceutical industry. Dr. Reddy's Laboratories transformed Indian bulk drug industry from import-dependent in mid-80s to self-reliant in mid-90s and finally into the export-oriented industry that it is presently. In 1993, Dr. Reddy's became the first company to take up drug discovery research in India and in April 2001 it became the first non-Japanese Asian pharmaceutical company to list on NYSE. By the end of fiscal year 2005, Dr. Reddy's Laboratories was India's second largest pharmaceutical company and the youngest among its peer group. Presently, Dr. Reddy is a serving member of the Prime Minister's Council on Trade & Industry, Government of India, and has been nominated to the Board of National Institute of Pharmaceutical Education and Research (NIPER). Dr. K. Anji Reddy is also a philanthropist. He is the founder-Chairman of Dr. Reddy's Foundation for Human & Social Development, a social arm of Dr. Reddy's, which acts as a catalyst of change to achieve sustainable development. Dr. K. Anji Reddy has received many awards and honors. These include Sir PC Ray award (conferred twice, in 1984 and 1992); Federation of Asian Pharmaceutical Associations (FAPA)'s FAPA-Ishidate Award for Pharmaceutical Research in 1998; leading business magazine Business India voted him Businessman of the Year in 2001; CHEMTECH Foundation bestowed on him the Achiever of the Year award in the year 2000 and the 'Hall of Fame' award in 2005, for his Entrepreneurship, Leadership and thrust on Innovation; and in 2001, he was awarded the Padma Shri by the Government of India.
Friday, September 11, 2009
Quasi Contracts
DEFINATION
A quasi contract is the existence of a contract which is not legitimately done but the terms are accepted and followed as if there is a legitimate contract. Many of the casual jobs are quasi contracts as such though it is not there it is apparently present and accepted by the parties
KINDS OF QUASI CONTRACT
Supply of necessaries
Payment by an interested person
Obligation to pay for non-gratuitous acts
Responsibilities of finder of goods
Mistake or coercion
SUPPLY OF NECESSITIES (Sec.68)
Ex. A supplies B, a lunatic, with necessaries suitable to his condition in life. A is entitled to be reimbursed from B's property
PAYMENT BY AN INTERSTED PERSON (sec. 69)
A person who is interested in the payment of money which another is bound by law to pay, and who therefore pays it, is entitled to be reimbursed by the other.
OBLIGATION TO PAY FOR NON-GRATUITOUS ACTS (Sec. 70)
When a person lawfully does anything for another person or delivers anything to him, not intending to do so gratuitously, and such other person enjoys the benefit thereof, the latter is bound to make compensation to the former in respect of, or to restore, the things so done or delivered.
RESPONSIBILITIES OF FINDER OF GOODS (Sec. 71)
A person, who finds goods of another and takes them into his custody, is subject to the same responsibilities as for his own goods.
MISTAKE OR COERCION (Sec. 72
A person to whom money has been paid, or anything delivered, by mistake or under coercion, must repay or return it to the person who paid it by mistake or under coercion.
QUANTUM MERUIT
Quantum meruit means ‘as much as earned’
The principle is that even when contract comes to a premature end, the party should get amount proportional to the work done/services provided/goods supplied by one party
A quasi contract is the existence of a contract which is not legitimately done but the terms are accepted and followed as if there is a legitimate contract. Many of the casual jobs are quasi contracts as such though it is not there it is apparently present and accepted by the parties
KINDS OF QUASI CONTRACT
Supply of necessaries
Payment by an interested person
Obligation to pay for non-gratuitous acts
Responsibilities of finder of goods
Mistake or coercion
SUPPLY OF NECESSITIES (Sec.68)
Ex. A supplies B, a lunatic, with necessaries suitable to his condition in life. A is entitled to be reimbursed from B's property
PAYMENT BY AN INTERSTED PERSON (sec. 69)
A person who is interested in the payment of money which another is bound by law to pay, and who therefore pays it, is entitled to be reimbursed by the other.
OBLIGATION TO PAY FOR NON-GRATUITOUS ACTS (Sec. 70)
When a person lawfully does anything for another person or delivers anything to him, not intending to do so gratuitously, and such other person enjoys the benefit thereof, the latter is bound to make compensation to the former in respect of, or to restore, the things so done or delivered.
RESPONSIBILITIES OF FINDER OF GOODS (Sec. 71)
A person, who finds goods of another and takes them into his custody, is subject to the same responsibilities as for his own goods.
MISTAKE OR COERCION (Sec. 72
A person to whom money has been paid, or anything delivered, by mistake or under coercion, must repay or return it to the person who paid it by mistake or under coercion.
QUANTUM MERUIT
Quantum meruit means ‘as much as earned’
The principle is that even when contract comes to a premature end, the party should get amount proportional to the work done/services provided/goods supplied by one party
Thursday, September 10, 2009
swot analysis of reliance communication
OPPORTUNITY
• Rural Telephony
• Competitors` Vulnerabilities
• Large customer area is still untapped.
• Ever growing industry.
THREATS
• New Entrants
• Changing Market Demand to GSM
• Lack of communication between retailers and distributor
OPPORTUNITY
• Rural Telephony
• Competitors` Vulnerabilities
• Large customer area is still untapped.
• Ever growing industry.
THREATS
• New Entrants
• Changing Market Demand to GSM
• Lack of communication between retailers and distributor
• Rural Telephony
• Competitors` Vulnerabilities
• Large customer area is still untapped.
• Ever growing industry.
THREATS
• New Entrants
• Changing Market Demand to GSM
• Lack of communication between retailers and distributor
OPPORTUNITY
• Rural Telephony
• Competitors` Vulnerabilities
• Large customer area is still untapped.
• Ever growing industry.
THREATS
• New Entrants
• Changing Market Demand to GSM
• Lack of communication between retailers and distributor
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