Business services are the activities that benefit companies without producing a physical commodity. They include consulting, management, information technology and outsourcing. They are considered tertiary in the three-sector economic theory, which also includes primary and secondary industries that produce tangible goods. These activities can be performed by employees of a company or by independent contractors. A company may hire these independent contractors to complete jobs that require expertise or equipment that the company lacks. For example, a company might hire an IT service professional to upgrade security features for a company’s technological devices.
Business service professionals can help companies save time and money by performing tasks that would take their employees away from more important work. These professionals are also available to address urgent needs that cannot wait. For example, if an employee has a child with a fever and is unable to go into work, a childcare service can provide care for the sick child.
Some common examples of business services are cleaning, pest control and computer maintenance. Many businesses also use these services to transport their products. Business services can also provide training programs to improve a company’s productivity and efficiency.
One of the keys to success in a service business is designing the right service model. This approach to managing a service business is different from that used for product businesses, and managers need to learn how to think about it. A successful service business depends on getting four things right: