Lost Shipyards, Businesses And Tech Services in Glasgow

Glasgow is Scotland’s biggest city, and is the heart of the country’s only metropolitan economy, boasting an estimated population of 1.2m. Governments around the world recognize that -and this includes the ones in Scotland as well as the UK cities and cities are becoming the main drivers of economic expansion. This is especially true for Glasgow that has seen an impressively higher rate of population growth and working-age increase than Scotland in the last few years as the table below exhibits.

Its Glaswegian economy of the past is well-known as its decline afterward. The city’s power in the production of British Empire-era goods such as cotton and tobacco changed to the second half in the late 19th century for heavy industries which included steel, chemicals and, particularly shipbuilding.

The Govan shipyards which made the former second capital city in the Empire the global acclaim fell into decline following World War II. This was due to Asian competitors such as Japan as well as South Korean, who began manufacturing ships at prices which the Scots were unable to beat. In the next few decades, Glasgow was now a synonym for a rapid declines in manufacturing, a decline that was faster than every other town within Western Europe, which was evident in its job and health figures.

The dramatic improvement within the Glasgow economy was due in part to the McKinsey report from the late 1980s, which was commissioned from the Scottish Development Agency, entitled The potential for the Future of Glasgow City Centre. It laid out the blueprint for the next phase of economic activity that was to be dependent on services, including software, financial services and tourism.

It also led to the development that city’s global financial district that has attracted several large blue-chip companies like Tesco Bank, Shell, Morgan Stanley, JP Morgan and Direct Line Insurance. They first established call centers but a few have created global IT, software and other specialized functions (JP Morgan is one of the worldwide software centres located in the city for instance). Business services make up 35 percent of the city’s GDP.

Glasgow is also the headquarters of several of multinational corporations which is often not considered. There are FTSE 100 companies such as engineers Weir Group and temporary power specialist Aggreko; big internationally-owned players such as Scottish Power and Clydesdale Bank; and private groups such as industrial manufacturer and venture capitalist Clyde Blowers Capital and whisky (and now premium rum) maker Edrington. In part, due because of the involvement in Edrington, Whyte & Mackay and Chivas Regal, Glasgow ships more Scotch whisky through its docks than any other place around the globe.

There’s also a number of small high-growth businesses like components maker Castle Precision Engineering and luxury audio-visual specialist Linn Products. These types of businesses connect Glasgow with international markets and draw on Glasgow’s impressive skills and graduate base while bringing world-class talent to Glasgow. Glasgow is home to a higher percentage of graduate workers and substantially higher productivity levels than most of the major UK cities and metropolitan regions to which it compares its own.

At the time of the Commonwealth Games, there is an impression that the city is moving beyond the initial wave of revitalization that was predicted by the McKinsey report into the second wave. The new wave builds on prior developments while focusing on the city’s long-standing position as Scotland’s technological and engineering heartland. The city is now a hub for renewable energy technology particularly after it was the home of the UK government’s catapult for renewable energy. It is also becoming a major player in the life sciences, particularly stratified medical technology and stratified medical research as well as in the engineering sector, it has production and services for engineering (the Jacobs group is a great illustration from the second). The city is Scotland’s most renowned center for creative industries including broadcasting, print and filmmaking.

In collaboration with the city’s universities and colleges (which provide more than a third of the students in Scotland) is considered to be vital for these changes. It can help bring innovation to the table, which is vital for sustainable growth across every sector, including web-based and digital technologies. The city is also the largest shopping centre in Scotland and the latest expansion of which includes The Forever 21 mall salonsonimage.com in the central area, which was built a few years back. It’s also no surprise that the city also seen a significant boost in its economy as a result of the Commonwealth Games. Based on The Scottish government that getting the city ready generated 6,000 new jobs and has boosted the economy by around PS52 million.

Naturally, there is lots to be done for the City of Glasgow. Glasgow has a low employment rate of 63% of its working age adults, which is 8 points lower in comparison to average Scottish average. Glasgow also receives higher unemployment rates as well as incapacity benefits, even though the rates have dropped sharply over the last few years (unemployment benefit dropped from 29 percent in 2000 to just 20% in the present; and the rate of incapacity has dropped between 18% and 12 percent in 2000 to just 12 percent now).

Another important indicator is the value of homes. According to most recent data by Nationwide magazine, Glasgow’s average home cost of more than PS169,000 is almost PS30,000 more than what is the Scottish average, but is far behind Edinburgh as well as Aberdeen and a bit lower than the big English cities such as Manchester, Liverpool and Birmingham. This has the benefit of making Glasgow attractive and affordable for investors as well as their employees.

However, while there are many issues to be faced, it’s impossible to claim it is the Glasgow economy in 2014 is as robust as it was thirty or forty years ago. The city is now able to speak to a thriving, solid and expanding business and financial services industry as well as continuous strong performance in technology, innovation and life sciences, engineering and tourism and occasions. Glasgow’s Glasgow economy is changing and is arguably returning to its origins as a world-class trading city that trades on its talent and expertise as well as its innovation, technological advancements and business knowledge. In many ways, this was the goal of Glasgow’s Victorian civic and business leaders. It’s a fact they will recognize in Glasgow the present day.

Five Pillars In Australia’s Economy Which Includes Services

In the 2013 campaign for his election, Tony Abbott promised his government would create a world-class “five pillar economy”, which includes agriculture, manufacturing as well as education, as well as mining. A year later, as his administration is working on its budget for the second time What is the status of these areas doing?

Australia’s advanced services – including legal and accounting services, engineering and architecture, financial services and management consulting – are growing rapidly. As the mining boom winds back and manufacturing continues to decline, they are the strongest growing sector of the economy and are seen by some as Australia’s great economic hope in the pivot away from mining.

Advanced services are extremely premium services, characterized by their high level of knowledge as well as their general purpose of serving the business community as well as government agencies, not household needs. Advanced services are available via a remote channel (for instance, Skype or email) and therefore are easily exportable unlike other professional products such as hairdressing.

The number of jobs in the professional service broadens including the bulk of the high-end services was up last year to 10.6 percentage, as compared to 1.4 percent for the overall economy.

Even though this increase was not extraordinary, the decadal growth rate of 4.1 percent per year for professional services is among the largest (except in mining) of all the major industrial segments identified as such by the Australian Bureau of Statistics. The sector’s percentage of work has risen from 7.3 percent to 9.4 percent over the course of this time. (These data are for the working hours to account to the growing percentage of part-time jobs).

But, the growth is predominantly local. It is not clear the increasing involvement of Australian service providers within the fast-growing international trade in advanced services. While the information has shortcomings, it shows that the trade we do in business services is primarily focused around the slow-growing old world market of those of the United States and Europe and not enough on addressing the growing need for such services in Asian nations, particularly China.

The demand from China for business services was up 7.5 per cent annually during the three years from 2012 in US dollars (the latest data available) and surpassed 42 billion dollars. Australian exports of such services to China were US $129 million, which is a 0.3 percent share, while China exported US$4 billion. United States exported US$4 billion.

Our inability to enter these markets has generally been blamed on the strict practices in these nations designed to shield their firms. The most significant achievement of Abbott’s Abbott administration is the signing of agreements for free trade (FTAs) which include not only with China however, as well as South Korea and Japan, each one of which lowers restrictions on exports of Australian products and services to these nations.

The FTAs have been applauded by the industry as well as members of the Australian Services Roundtable, the leading industry association in the sector of services.

Yet the report from the ANZ bank analysing the potential consequences for China’s FTA China FTA, suggests that exports of business services would get less support as compared to other areas of service targeted mostly at families including healthcare, motor vehicle insurance, or funds management.

One of these is that ANZ recognizes that health is one of possibilities within China. China FTA agreement and the government has included this in their list of”advanced services. The aging population of China, coupled with rising prevalence of chronic diseases as well as a dysfunctional health system definitely provide the opportunity for Australia’s international-oriented private health sector. China is expected to allocate an increasing portion of its budget for healthcare and its growing wealthy middle class will be demanding higher quality health care, and will expect to purchase health care from private suppliers.

But it appears the business opportunities offered by services through the FTA will be limited as Australia’s growing industry of business services will remain predominantly domestic. However, Asian possibilities will continue to be elusive.

It is clear that despite their good intentions as well, it is likely that the Abbott administration’s agreements with free traders (FTAs) could just provide a partial boost to the Five Pillars plan. In the event that the Abbott government really is dedicated to a modern services Pillar, it must be more clear on its policies to help professionals in the industry in boosting their business to Asian market.

The need for this would be a better understanding of the crucial contribution of these the professional service firms’ networks to drive the expansion of the global cities. These networks, typically managed by major service firms including Pricewaterhouse Coopers, KPMG and Boston Consulting Group, through their offices located in New York and London, combine highly-specialized services by the most experienced teams around the globe.

The participation within these networks is an outcome of specialist expertise and knowledge of the culture. The reasons behind the present apathy in participation are likely to be complicated however, they might be a mixture of cultural and technological.

The quality, depth and quality of our education system are essential to acquiring the necessary skills to help a nation build an international competitive service portfolio. With the importance of these services as the engines for contemporary economic development, it’s a shame not to have them.

Do You Think Your Business In The Service Industry Requires AI? These Are 4 Rules To Assist You In Making A Choice

The use of AI is the hottest thing in the present, with all industries all over the world, from to finance and medical care as well as retail trying to get on board with AI or are at risk of being left behind. However, as we speak of ourselves as academics from the business world we believe that some firms might be jumping over the bullet.

Our recent study shows that companies providing services should not automatically get on AI. AI bandwagon. Instead they need to make a decision based on their strategies. In other words with regards to AI and service providers it’s not always better to have more.

Why Service Providers Have To Face A Different Approach To Calculation?

Are you a manufacturer? If AI lowers your costs but without sacrificing quality, and provides you the ROI you require, then go ahead and test it.

However, service businesses – companies which offer services to their clients, not making physical items – differ. As opposed to products that are manufactured that are manufactured, services can be “co-produced” by the customer. Customers can make complicated the process of ordering something so simple as placing an order for pie.

In dealing with customers, there is the academic term the uncertainty of customer interaction. This uncertainty stems from two different sources such as the degree of interactions with customers and also – since customers could need a wide range of things, a possible numerous range of options.

For an example, think of the restaurant. The customer places an order for what they would like, mixes different meals according to what they like and then consumes the food once it is served out. The customer may make poor choices but the restaurant will be bound by them.

If you let your customers interact with a server or, even more importantly even the cook, they could ask for substitutions or even question the ingredients, or attempt at convincing you to cook something different. This won’t occur if you restrict the customer to the menu on tablets. To keep the analogy going restaurant owners can provide some typical dishes, or could offer a variety of dishes that which the patron can customise.

If you’re a manager of a service business, you’ve probably had a variety of decisions in relation to your customer engagement strategy. Imagine, for example, you run a financial services firm. Are your offices convenient and comfortable for your clients, and made for lengthy meetings to discuss their requirements? Or do you limit the time you spend with your customers and communicate with them via phone or perhaps using an application?

Also, do you restrict your offerings to know what you’ll be doing for every customer? Are your offerings different greatly based on the customer’s preferences and the decisions they make? Take the example of CPAs as opposed to tax preparation apps.

Conducting Business In An Uncertain World

How much uncertainty will you permit your customer to add to the production process? This is the most important factor that determines whether your service company implements AI.

To better understand the reasons, we’ll look into the academic field of the theory of information processing. According to this body of research organizations manage uncertainty using information to minimize risk. The main challenge facing companies in the service industry is to use information in the production of services.

Individual knowledge – also referred to as human capital – helps reduce the risk of service delivery since human workers tackle problems and satisfy demands of the customer. Human capital, however, has issues it belongs to the individual rather than the company and is not adaptable. However it is that customers still appreciate the human touch.

Another type of knowledge is called “organizational capital”: codified information that the company itself holds. Organizational capital comes with inherent advantages it belongs to the company, and it expands. AI is a type of capital for organizations clearly has these advantages.

Information processing theory offers three ways to organize information to handle the uncertainty.

The first has rules and plans – an organizational capital type. The second is to have hierarchical structures. In this case, workers on the front line transfer complex issues to managers with more experience. The third type of coordination is goal-oriented Companies can handle uncertainties by empowering employees at lower levels with the ability to make their own decisions, guided by a broader set of organizational goals. These two are dependent on experienced, knowledgeable workers human capital.

This is how it fits into the service strategy. Most companies with limited options for consumers and limited interaction with customers use organizational capital. In the present, this usually is a result of technological solutions that are over guidelines and programmes. Firms that have a variety of offerings, but with limited customer interaction rely on an orderly structure where issues are passed along the chain. Firms that have offering a broad range of products and a high degree of interaction with customers use front-line employees who are governed by goals or targets.

Technology could enhance the last two options however the price of providing a greater variety of products or services, or offering a wider selection is that the company is increasingly dependent upon human employees.

The Use of AI For Strategic Purposes AI

AI is a sophisticated type of capital that is used in organizations, could help reduce the uncertainty in customer interactions. The company owns it and can expand it. However, it is restricted by its regulations and database There are also areas of uncertainty in which human capital can still provide advantages such as identifying innovative solutions, combining diverse concepts and understanding the subtleties of human interaction to mention some.

The trick is to manage all this, while integrating the customer’s strategy with organizational and human capital in a coherent manner. We have come out with four guidelines that can help:

  • Find a balanced approach. For predictable tasks like payments automated processes improve efficiency but it also sacrifices little. The complex and diverse needs of customers require the flexibility and understanding of human knowledge and interaction. The most effective approach usually lies in a balanced combination of both. Automation assists with routine tasks, while humans handle the nuances that automation isn’t able to handle.
  • Make use of advantages. Use AI to assist in tasks like the analysis of data and decision-making processes where accuracy and objectivity are vital. This will ensure accuracy and security when dealing with services where mistakes could result in serious impact, such as healthcare and finance. However in areas where trust, personal relationships and a good reputation are essential prioritizing interactions with people to create and maintain relationships with your clients.
  • Explore synergies. Encourage dynamic interaction between humans as well as AI technologies, ensuring that both can gain from each other. This is not just beneficial to existing processes, but also creates an environment in which both humans and AI can grow. This could lead to an advantage that can last over competitors through continuous expansion of the company’s knowledge base as well as ability to adapt.
  • Take into consideration your contextual context. Assess the specific requirements and preferences of your clients to determine the best mixture of human and technological resources. Consider that the balance of resources may change as technologies evolve and customer expectations shift.

Following these tips Service companies can navigate the challenges of infusing AI into their processes by leveraging the best of everything to serve their clients demands effectively and consistently.