Business services are a broad category of businesses that provide non-financial support for companies. These services can range from providing marketing, production or safety services to offering convenience for employees and helping companies manage their business processes.
A service is an essential and separately identifiable intangible activity that satisfies the wants of consumers without producing goods that are tangible in nature. This may include banking, warehousing or consulting services.
The difference between services and physical products is that in the former, demand and supply are simultaneously present. In the latter, demand and supply can be separated into a future time frame.
Some examples of services include teaching by teachers, doctor’s treatment to patients etc.
A social service is a business that undertakes activities to promote social welfare. These services are usually provided by nonprofit organizations and government agencies.
Personal services are a group of businesses that offer work-life balance for employees by providing facilities such as workout rooms, relaxation spaces and transportation. Some of these services are hired for a fee while others provide services for free.
The business-to-business services industry includes companies that help other businesses operate, reduce costs and generate more output for a flat or hourly rate. These services can include software development, telecommunications and IT support.
A good business service aligns IT assets with business goals and supports employees and customers, allowing them to become productive, profitable and successful. These services often involve documentation of IT assets, an audit of IT infrastructure and provisioning employee self-service tools to streamline communication.