Business services are any intangible services that support businesses and do not create or deliver physical goods. They are a large industry segment and provide a vital link between companies and end consumers. A wide range of services are provided by this sector, including IT, accounting, legal and marketing services. Other common business services include shipping, janitorial and waste management. These services can be provided by internal departments or by external providers. The value of a business service is in its ability to help the company achieve its goals and objectives.
Unlike goods, which can be stored for future use, a service is consumed at the time it is provided. For example, a customer who dithers at a fast-food counter may cause delays for the other customers behind him. Because of this, the quality of a service is not guaranteed and may vary from one occasion to another. This is why it is important to understand and define a service’s performance requirements, which are a set of measures that describe how well the service meets its intended needs.
There are various kinds of business services, but the most basic ones can be divided into three categories: support, logistics and operations. Support services are those that assist a company’s core activities and help it to function smoothly. These can include IT, legal, marketing and consulting services. Logistics are those that manage the flow of goods and money between suppliers, manufacturers and customers. And operations are the functions that a company performs to monitor and control its production, distribution and supply chain.
The business services sector contributes 11% of the European Union’s GDP. It is also growing rapidly as new technologies allow more efficient and flexible services to be delivered. This is also creating the potential for entirely new services, such as business process outsourcing and augmented reality to be added to traditional products.
In addition, the coronavirus pandemic has led to a rise in demand for some business services. For example, a large number of companies are now outsourcing IT support to cut costs and improve efficiency during the crisis. This is likely to continue as businesses seek out ways to reduce their operating expenses and increase their competitiveness.
If you are looking for a career path with high growth and good job security, then consider working in business services. The qualifications that you need to start in this field vary depending on the industry, but typically include a high school diploma and computer skills. For more professional roles, you will need a bachelor’s degree in your area of expertise. To work in a role such as customer support or marketing, you will need strong interpersonal skills and some previous customer-facing experience. For more administrative positions, you will need to be organised and have great attention to detail. If you want to work remotely, then you will need a reliable internet connection. A virtual work environment is becoming increasingly popular and can be a great option for some people who prefer to avoid the commute or live far from their place of employment.