Service industry, an industry in that part of the economy that creates services rather than tangible objects. It is also known as tertiary sector. Economists divide all economic activity into two broad categories, goods and services. Goods-producing industries are agriculture, mining, manufacturing, and construction; each of them creates some kind of tangible object. Service industries include everything else: banking, communications, wholesale and retail trade, health & spa, airlines, tourism, hotel management, all professional services such as engineering, computer software development, and medicine, nonprofit economic activity, all consumer services, and all government services, including defense and administration of justice. A services-dominated economy is characteristic of developed countries. In less-developed countries most people are employed in primary activities such as agriculture and mining.
The services sector, with around 52 per cent contribution to the Gross Domestic Product (GDP) in 2014-15, has made rapid strides in the past decade and a half to emerge as the largest and one of the fastest-growing sectors of the economy. The services sector is not only the dominant sector in India’s GDP, but has also attracted significant foreign investment flows, contributed significantly to exports as well as provided large-scale employment. India’s services sector covers a wide variety of activities such as trade, hotel and restaurants, transport, storage and communication, financing, insurance, real estate, business services, community, social and personal services, and services associated with construction.
The services sector contributed US$ 783 billion to the 2014-15 GDP (at constant prices) growing at Compound Annual Growth Rate (CAGR) of 9 per cent, faster than the overall GDP CAGR of 6.2 per cent in the past four years.
Out of overall services sector, the sub-sector comprising financial services, real estate and professional services contributed US$ 305.8 billion or 20.5 per cent to the GDP. The sub-sector of community, social and personal services contributed US$ 188.2 billion or 12.6 per cent to the GDP. The third-largest sub-segment comprising trade, repair services, hotels and restaurants contributed nearly equal or US$ 187.9 billion or 12.5 per cent to the GDP, while growing the fastest at 11.7 per cent CAGR over the period 2011-12 to 2014-15.
ITFT was established in April 1994. The aim was to develop Quality Human Capital for the service Sector. It has emerged as premier Institute of service industry in North India and is the only one in the country to offer International Standard Courses in Aviation, Tourism, Hospitality, Health-Spa & Resort, Media and Entertainment, IT and Management Disciplines.
The 21st century has brought with it a new workplace, one in which everyone must adapt to a rapidly changing society with constantly shifting demands and opportunities. The economy has become global and is driven by innovations and technology and organizations have to transform themselves to serve new customer expectations.
In these days service sector is the most booming sector of the economy. In management department we are providing course which mainly focus on service industry. Our main aim to run these courses is to provide an in-depth overview of the different avenues of Service Sector, with industry overview, leaders of industry and work opportunities.
Bachelors in Service Industry Management (BSIM)
Bachelors in Service Industry Management prepare service sector professionals for management roles in industries ranging from food services to healthcare and from retail to hospitality and tourism. This course is the ideal qualification for individuals that want to work with people – both serving and leading them.
Bachelor in service industry is a course that provides knowledge of interest to individuals of all ages and backgrounds who wish to learn more about service industry, organizational situations, decisions, and relationships.
This course explores the dimensions of successful service firms. It prepares students for enlightened management and suggests creative entrepreneurial opportunities.
Master in Service Industry Management (MSIM)
The Two years Master course connects a profound academic education with a strong practice-related focus in Service Management. It is designed to create leaders in the fast growing services sector- software, telecom, healthcare, banking & financial services, insurance, hospitality, entertainment, professional & higher education, consultancy, exports, airlines and transportation services, HR services, marketing services. This course spreaded across 4 semester covers major areas of service sector ,emerging trend s in services sector, serviceoperations, HR requirement ,and customer services one of the major aspect of Service industry. Taking care of global Service industry the major focus is to educate student on the Asian Regional Services Sector.
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