The service sector is a dominant
contributor to GDP of most developed and developing nations. A large segment of
the population is involved in this sector for their livelihood. It is a
requisite that focused academic attention is directed at it. This is an
imperative if the sector has to grow in a planned manner in the future. The
on-line economy or new age businesses, most of which are service companies, had
started with great fanfare but the life cycle of the 'dotcom' companies, hordes
of which have gone bust, have proven at least one thing amongst others – that,
the business modelling of these companies were not thought out in their
entirety and that the assumptions and benchmarks that were used in strategy
formulation were faulty at best.
This is obviously going to be there when
a sunrise sector opens up but the kind of chaos that it has led-to the world
over, especially in the stock markets, indicates that the thinkers, researchers
and analysts were not able to see through the consequences and were not able to
provide guidelines and propose relevant business models. This is avoidable (if
at all partially) only when there is a corpus of research and analytical work
to base decisions upon or to at least lend some objectivity to decision making.
The Journal of Services Research is an
effort in this direction to help build and document such a corpus by promoting
researchers from India and abroad to focus on issues related to services
management and provide well researched and tested benchmarks for industry, and
also to provide new directions for further research.
Vedatya as an institution focuses on the
emerging sectors of service businesses and we feel that it is relevant for us
to take an initiative in harnessing academic and industry effort in order to
further the boundaries of knowledge in our chosen area of
Endeavour. We look
forward to inputs from relevant quarters-suggesting, criticising and
contributing to the increased awareness and understanding of this sector.