Revolution of Business-Service Sector.pptx

Revolution of Business-Service Sector.pptx

1. Revolution of Business-Service Sector Lecturer:

2. Content Service and characteristics of service Types of service Business – service sector

3. Service definition Services are all economic activities that are intangible and imply an interaction to be realized between the service provider and the consumer.

4. Characteristics of service (1) Intangibility These are intangible assets, they cannot be touched. They don’t have their physical presence. A person can only experience it. It is important to provide quality service to the customer, so that customer can feel the favourable experience. Example:  Teaching by teachers, doctor’s treatment to patients etc.

5. Characteristics of service (2) Inconsistency There is no consistency in the services as like in physical products. Each time the service has to be performed exclusively. Demands and expectations of the different customers are different. Every time the service provider has to modify the service accordingly .

6. Characteristics of service (3) Inseparability Production and consumption are simultaneous in case of services. If we produce the goods today, it can be sold later.

7. Characteristics of service (4) Inventory Services cannot be stored for the future. It has no physical component. Demand and supply for the service are very close to each other. Service has to be provided to the customer as and when it is asked by them. Example:   Mc Donald’s burger can be stored but the taste can only be experienced. Airways ticket can be stored, the journey can be experienced.

8. Characteristics of service (5) Involvement Services are provided according to the requirement of customers. It has the involvement of customers in the service providing process.

9. Service vs goods

10. The service revolution

11. Type of service (1) Business Services Services used by the business enterprises in conducting the activities of the business. (2) Social Services These are provided voluntarily to fulfil social goals. (3) Personal Services These are not consistent in nature. Different consumers have different services. They depend upon the customer’s priority.

12. Business service Business services refer to the activities that help organizations but do not necessarily result in a physical commodity. Business services  allow a company to focus on its specific goals and hire internal employees for that purpose while hiring business service professionals to complete tasks that need special expertise or equipment.

13. Question List all possible services a company can outsource? Pros and cons of outsourcing business services?

14. Types of business services

15. Management service Management services cater to various aspects of managing the independent services. Management services or of different types for example: Asset Management Service, Debt Management services or stock Management services. Facility Management services Event Management Services

16. Software service The software ranges from operating systems to anti-virus to data backups to special programs to access special files. Example of software service: banking app, antivirus software, e-CRM, accounting software, …

17. Consulting service Business consulting services provide specialized expertise in business matters. Business consulting firms will work with clients, usually on a contractual basis, to determine ways to improve the client's business performance.  Example??

18. Training service A company may benefit from hiring a training company to teach employees specific computer skills or  soft skills . In these cases, the company may hire an outside party to lead training sessions, workshops or presentations to help team members improve or learn a certain skill.

19. Financial service Companies often hire  financial professionals  to help prepare tax documents, budgets and audits. These financial services allow companies to understand their financial position and ensure that their fiscal practices are beneficial.

20. Marketing service Marketing services help companies advertise their products, services and brand by creating marketing campaigns. Some c ompanies outsource this labor in order to receive faster and higher-quality results.

21. Waste management service Waste management services  assist companies and individuals in maintaining a clean and safe workplace.

22. Travel service When an employee is required to travel for work, it is customary for the company to provide travel arrangements. These services can help ensure travel plans are accurate and cost-efficient.

23. Designing service When a company wants to create a website or other media, it may need to hire a design service, such as a graphic or  website designer . These professionals create websites, logos, advertisements and other promotional content for companies to increase public interest.