Often termed as a saturated field, the IT industry is faced by frequent booms and slowdowns as affected by global market dynamics. Optimistic views support the view that this industry has yet more to offer, but realistic views assert that this industry has already seen its best period and expecting more would not result surprises. But for any industry, even if there is a downturn, there is always a scope to rebuild or revamp it for better provisions for clients or customers. Experiences are lessons. Ideas and plans are constructed to transform an organization or an industry in its entirety. Such is also the case with the Indian IT sector.
Exploring the Present
The IT sector in India has grown tremendously in the last decade, thus making India one of the highly preferred destinations for business solutions. The industry figures indicate that this sector is one of the major contributors of India’s GDP growth. It is not only the IT service and software providers who are in demand, but also ITES services like BPO is also a profit making segment. The cheaper labor, cost effective solutions, and high quality deliveries are the major attributes which attract global clients. With the increase in foreign clients, The Indian IT companies are able to increase their profitability, which again is invested in developing their own infrastructure as well as human capital. With highly qualified technical and managerial knowledge pool, these companies are able to provide value added services to their clients.
The huge turnovers of these companies have transformed the entire industry. Now these IT companies are serving sectors ranging from Banking and Finance to Healthcare and Agriculture. IT has built its path through all industries as well as government initiatives. The use of IT solutions has become an integral part of every business unit irrespective of the magnitude of the businesses conducted. The nation’s economy has been reshaped to a very great extent due to the IT revolution. The industry is highly sought after in the current market, but there are needs of refinement in processes, policy changes in organizations, employee satisfaction and other such issues which need a change to maximize the hold of this industry.
Rights Vs Wrongs
It is true that IT has changed the entire business structure existing in Indian market, but we cannot deny the fact that in the recent times this industry has witnessed downturn because of several reasons, direct and indirect. In order to bring the initial charm of IT industry, certain reformations should be adopted, i.e., revitalizing this industry what the drivers of all IT companies are aiming at. Policies within the organizations as well as Government policies affecting this sector demand a change for a better future. Profits are huge, but the ways to achieve them often need optimization. Awards and recognition are many, but building a consistent workforce is what should be made the focus. Expansion of the organization is good to compete with others, but sustainable development should be the objective of these organizations.
Future Focus
There are high expectations that the IT industry will revamp itself in the coming years. It is anticipated that by 2015 this industry in India will regain its charm with breakthrough changes. A holistic development of this field is essential to bring back the same attractiveness and prospects. There is still more scope in this field which are unexplored. More the number of innovations more will be the probability of increasing businesses. The existing workforce should be motivated to put in their ideas which can be worked upon for research and development. Each employee should be made to feel like an essential part o the organization in order to inspire them to contribute more towards innovating creative solutions .The telecommunication networks existing between India and other countries should be improved to facilitate better connectivity of IT enabled services. Network conditions should be monitored for round the clock connectivity thus making the transactions reliable.
In addition to these infrastructure building improvements, the organizations should also modify their recruitment processes. Instead of bulk recruitments for several colleges ,they should focus on harnessing talent from top reputed institutions .The company should also look for skilled candidates and not only recruit on academic score basis. The company should try to enter the semi urban and rural areas which will help them expand as well as gain popularity with their business. This will help in providing employment opportunities to skilled and talented students who often stay ignored because of lack of exposure. The companies should bring employee friendly changes to their policies which will help employees to perform their best .To strengthen the employee loyalty; the company should introduce policy changes with proper discussion with their employees. Sustainable corporate policies should also be implemented for green IT initiatives. Government policies should also be reviewed frequently in order to keep the industry up to date with the global market demands.
A Better World
Challenges will be faced by the industry, but strategic plans if implemented at the right time and right place will be instrumental in revitalizing the scenario. With changes in technical and managerial aspects of an organization, it can be expected that the industry will progress in path of prosperity in the days to come, thus making the Indian economy one of the highest profit making economy of the world.
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