A business service is anything that helps a business do business. It’s the opposite of a consumer product, which is something that is sold to consumers for their enjoyment. Businesses often use a mix of both products and services to meet their needs. Examples of a business service include marketing, consulting, logistics (including travel and facilities), waste handling, staffing services, shipping, and administration. In some countries, the service industry makes up a majority of their economy.
A good business service focuses on the customer experience and provides value for money. It also involves a high degree of involvement by customers, who can impact the quality of a business service in many ways. For example, a customer who dithers at a fast-food counter can make it slow for everyone behind him. Unlike physical goods, services cannot be stockpiled and then delivered when required; they must be produced immediately in response to the demand for them.
Business-to-business services are used by companies to help each other perform better or reach new markets. For instance, a third-party logistics company might provide supply chain management services to an eCommerce manufacturer. This could include warehousing, picking and packing orders, and shipping for the manufacturer. Another example of a business-to-business service is a consulting firm that works with management teams to help them improve their efficiency and effectiveness.
Providing business-to-customer services is essential for any type of organization, whether it’s a small startup or a large multinational corporation. These types of services allow organizations to focus on their core competencies and expand their market share. In addition, they can also reduce overhead costs by outsourcing certain services to other firms.
The five characteristics of a business service are listed below:
They help a business do its job. They are intangible. They can’t be touched. They support a company’s mission and goals. They are a vital part of the economy.
The professional and business services supersector includes all the services that provide assistance to companies yet don’t produce a tangible commodity. It is a critical part of any modern economy and accounts for a significant portion of the global GDP. It’s also a large employer in the United States and worldwide. This section presents data relating to employment and unemployment in this industry, including the number of workplace fatalities, occupational injuries and illnesses per 100 full-time workers, and projections of occupational employment change. The data also shows information about job openings, labor turnover and union membership in this sector. The data for this industry are drawn from a variety of sources, including national and regional surveys of employers, employer-sponsored insurance programs, state occupational health and safety agencies, and federal government statistical publications. In some cases, data are based on a survey of all employers or establishments, and may include both full-time and part-time employees. The data do not account for the self-employed, who are not reported separately from other employed persons.