Business Services
Business services are a broad category of industry sectors that encompass jobs like IT, engineering, architecture, legal, advertising, marketing, staffing, facilities management and waste management. The industry is a vital component of the economy and provides a variety of employment opportunities for skilled professionals.
Business service providers often focus on providing support to other organizations and the people within them. These services can be offered on an outsourced basis or provided internally. For example, a technology company may provide support to its internal customers by offering help desk support or developing an enterprise software solution. Another common type of business service is logistics, which involves the management of supply chains and transportation networks. Logistics companies provide value-added services such as sorting, packaging, labeling and light assembly to their clients.
Some of the major sub-categories of business services are outsourcing, consulting, technology and human resources. These are all considered intangible services because they do not deliver a tangible product to the customer. For example, IT is an intangible service that supports the other facets of the business such as shipping and procurement.
In addition to supporting the operations of businesses, business services also enable them to improve their relationship with manufacturers and their customers. For example, a company can use business services to manage and market its products and improve the experience between consumers and the manufacturer.
The service industry accounts for over half of the world’s GDP and employs a large percentage of the workforce. It is an important part of the global economic system and provides essential support for manufacturing. Business services are a significant component of this industry and can be provided by governments, private firms and non-governmental organizations (NGOs).
A business service can be defined as any service that is used to conduct business but does not produce an actual product. These activities include providing advice, labor and knowledge for a fee or a set of criteria. Business services can be categorized into five types:
A digital business service is any service that uses a digital means of engagement to provide information, process and/or transactions. To be effective, digital business services should be designed for their intended end-customer and support the delivery of value. For example, a customer-facing service catalog accessed via a portal is a digital business service whereas service portfolio management oversees the creation, maintenance and retirement of services grouped by objective, capability or organization. In this way, digital business services can be used to support the implementation of a business strategy. For example, a company can launch a digital business service to make it easier for its employees and customers to locate and interact with the tools they need to work effectively. This will reduce the time and effort needed to perform tasks and improve service delivery. This will also help the business to meet its goals and objectives.