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Business services are a recognisable subset of economic services, and share their characteristics. The essential difference is that businesses are concerned about the building of service systems in order to deliver value to their customers and to act in the roles of service provider and service consumer. [1]
The services sector treats services as intangible products, service as a customer experience and service as a package of facilitating goods and services. Significant aspects of service as a product are a basis for guiding decisions made by service operations managers. [4]
The service industries (More formally termed: 'tertiary sector of industry' by economists) involve the provision of services to businesses as well as final consumers. Such services include accounting, tradesmanship (like mechanic or plumber services), computer services, restaurants, tourism, etc.
Virtually every product today has a service component to it. The old dichotomy between product and service has been replaced by a Service (economics) service–product continuum [1]. Many products are being transformed into services. For example, IBM treats its business as a service business.
A restaurant waiter is an example of a service-related occupation. A service is an act or use for which a consumer, firm, or government is willing to pay. Examples include work done by barbers, doctors, lawyers, mechanics, banks, insurance companies, and so on.
Service industries are those not directly concerned with the production of physical goods (such as agriculture and manufacturing). Some service industries, including transportation, wholesale trade and retail trade are part of the supply chain delivering goods produced in the agricultural and manufacturing sectors to final consumers.
Knowledge Intensive Business Services (commonly known as KIBS) are services and business operations heavily reliant on professional knowledge. They are mainly concerned with providing knowledge-intensive support for the business processes of other organizations.
The tertiary sector involves the provision of services to other businesses as well as to final consumers. Services may involve the transport , distribution and sale of goods from a producer to a consumer, as may happen in wholesaling and retailing , pest control or financial services .
Corporate services or business services are activities which combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners.
The industrialization of services business model is a business model used in strategic management and services marketing that treats service provision as an industrial process, subject to industrial optimization procedures.