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Service (economics) A restaurant waiter is an example of a service-related occupation. A service is an act or use for which a consumer, company, or government is willing to pay. [1] Examples include work done by barbers, doctors, lawyers, mechanics, banks, insurance companies, and so on.
Popular examples of streaming services include Netflix, Spotify, and YouTube . An over-the-top media service (OTT) is a streaming media service offered directly to viewers via the Internet. OTT bypasses cable, broadcast, and satellite television platforms, the companies that traditionally act as controllers or distributors of such content.
Some service industries, including transportation, wholesale trade and retail trade are part of the supply chain delivering goods produced in the agricultural and manufacturing sectors to final consumers. Other services are provided directly to consumers. These include health care, education, information services, legal services, financial ...
Managed services is the practice of outsourcing the responsibility for maintaining, and anticipating need for, a range of processes and functions, ostensibly for the purpose of improved operations and reduced budgetary expenditures through the reduction of directly-employed staff. [1] [2] [3] It is an alternative to the break/fix or on-demand ...
Service provider. A service provider ( SP) is an organization that provides services, such as consulting, legal, real estate, communications, storage, and processing services, to other organizations. Although a service provider can be a sub-unit of the organization that it serves, it is usually a third-party or outsourced supplier.
There are many ways to classify services. One classification considers who or what is being processed and identifies four classes of services: people processing (e.g. beauty services, child care, medical services); mental stimulus processing (e.g. education services, counselling services, life-coaching), possession processing (e.g. pet care, appliance repair, piano tuning) and information ...
Service Blueprint The service blueprint is a way to describe the flow of a customer through a service operation from the start to the finish, along with the actions provided by the service providers both in interaction with the customer and in the "back room" out of sight of the customer. For example, if a customer wishes to purchase a suit ...
Most modern business theorists see a continuum with pure service on one terminal point and pure commodity good on the other terminal point. Most products fall between these two extremes. For example, a restaurant provides a physical good (the food), but also provides services in the form of ambience, the setting and clearing of the table, etc ...