Service Technologies Creates a Tangible Link for Value Generation: Service Economy in Sri Lanka

Abstract

A country’s ability to develop a competitive service economy depends on its production sector, as they demand use of services. Continuous improvement or innovation in technologies in both manufacturing and services will simultaneously increase smooth flow of operations for competitiveness by lowering cost of production to enhance customer satisfaction, to attain value. The success of different industries depends on how well the service sector is geared to support them. To carry out better management strategies for value gain, it is necessary to provide a tangible link to integrate the production and distribution channels for efficiency and effectiveness of the organizational and technological dimensions. Technology transfer and continuous innovation of systems enhances productivity growth for cost competitiveness leading to better prices, responsiveness and flexibility of the processes to deliver a quality product to changing markets. The research purpose is therefore to identify management strategies and service technologies to analyze the characteristics of research variables in relation to GDP value generating sectors and focus on issues relating to value.