Level of countries are generally measured by their disease, educational level, population growth and the stability of the governments of a country. There are three types of countries such as poor countries, developing countries and developed countries. Poor countries are generally identified by their poor level of education where they will be mostly illiterate, high level of disease as they have poor healthcare system, high population growths compared to developing and developed countries and the government of poor countries will be unstable. There are some findings that says poor countries cannot improve their living standards and they are destined to be poor. This is not true. Poor countries have the ability to be a developing country.
We will discuss some of the factors that enables a poor country to be a developing country. When a country has no savings, automatically the country will have no capital to invest in a business to produce something which would cause no production. No production causes no business to the country which leads the country to be poor.
Examples of poor countries are such as Pakistan, Nepal, Myanmar, etc. In order to have a production in a country, they need to take resources out of production of consumer goods. But for poor countries, it is quite difficult as they are living so close to subsistence levels and lack of savings can make it difficult for them to accumulate capital and growth for their country production. This can be overcome if the country would consider services industry. For an instance, India which only depends on agriculture and it was the main source of economy but still the country was recognized as poor. This made India to consider service industry to boom their economy.
India, a relative laggard among developing countries in terms of economic process, found such a chance within the information technology revolution as progressively favoured location for personalized software development. India’s success at software has point the way to speculation regarding whether different alternative developing countries will rivalize its example, in addition as whether or not this establishes a competitive challenge to software industries within the developed world. (Arora, Arunachalam, Asundi, ; Fernandez, 2000). India had a large variety of educated individuals and therefore the education in India being in English, there was an outsized population of English speaking technically sturdy individuals in India. Hence outsourcing of tasks started gaining momentum and this point out to the massive boom within the IT sector in India, whose most of the work is exporting software and software system services to the US and other overseas buyers. (Arora et al., 2000).
This clearly proves that a poor country that has no sufficient resources considered a service industry and bloomed becoming a main exporting country of software that exports over the world. If a country has no entrepreneur ability, they can consider to provide education or training for the people. Training covers a spread of skills as well as technical, vocational, business, managerial, and financial skills (cultivation and numeric) and life skills. Coaching elements vary in duration, intensity, and delivery arrangements reckoning on coaching type and objectives. A general principle in providing coaching services is to ensure that participants acquire pre-requisite skills (basic cultivation and numeric, business awareness, and financial literacy) before moving up to higher level skills (technical, vocational, business, managerial, and financial skills). Gaps in literacy and numeric among participants are generally a primary barrier to get different skills.
Unless these gaps are addressed first, coaching in advanced areas won’t yield the required impacts. (Cho, 2018).Few entrepreneurship programs have enclosed coaching in pre-requisite skills as a part of their core services, however improving cultivation and numeric might be one in all the foremost necessary ways in which of serving to low-skilled freelance staff.
Additionally, current programming tends to neglect building business awareness, which may facilitate farmers, informal staff, and other vulnerable freelance staff adopt a business mind-set and examine their activities in a business framework. In contrast, job and technical skills coaching in a very specific trade, or business coaching, is often enclosed as a part of small-scale entrepreneurship programs, significantly for youth. (Cho, 2018).Low skills weaken labor force productivity and cause investment less engaging, decreasing the transfer of technology and “know-how” from high-income countries. Low skills also sustain poverty and difference of a country as a result of the private sector can’t flourish in a country that doesn’t have a talented work force to sustain it. Many children attend schools without any basic literacy skills, enabling them unable to compete within the job market. Over 80% of the whole operating age population in Ghana and over 60% in African nation cannot infer easy information from comparatively straightforward texts.
(Valerio, 2017). In India, employment growth is almost solely focused within the informal economy, where over 90 per cent of India’s staff are employed at low levels of productivity and income. half of the country’s population over the age of 25 has had no education and an extra third have at best primary schooling.
Four out of 5 new entrants to the manpower haven’t had any chance for skills coaching. whereas enrollment in technical education institutions has raised (from 2.1 million in 2000 to some 3.
8 million in 2005), there’s a really high drop-out rate in these institutions. there’s a large shortage of teaching facility in engineering colleges. At the same time, important skills shortages are reported throughout the formal economy. within the information technology sector alone, this deficit in engineers is estimated to be around half a million. (A Skilled Workforce for Strong, Sustainable and Balanced Growth, 2010).
In order to deal with these challenges, India adopted an ambitious National Skills Development Policy in 2009. Its main aim, within the words of the Union Minister for Labour and Employment, is to empower all people through improved skills, knowledge and internationally recognized qualifications to provide them access to good employment and to promote inclusive national growth. It’s envisaged, among alternative things, to extend vocational education capability to 15 million students over the 11th 5 Year set up amount (2007-12). (A Skilled Workforce for Strong, Sustainable and Balanced Growth, 2010).
The impact of the movement of skilled trade union movement to and from domestic corporations is captured by the interaction of labor quality with foreign presence at the trade level. By moving to domestic corporations, skilled employees bring with them the information of the advanced technologies of foreign corporations, which can result in enhancements in technology and thence in productivity of domestic corporations. If there’s skilled labor from foreign to domestic corporations, they tend to expect the constant of interaction term of labor quality with foreign presence to be positive. (Sinani ; Meyer, 2004).