Business service is a term used to refer to the activities businesses utilize but does not add any tangible value to the business. By tangible value, it means concrete values. However these services are needed to fast-track a business progress, they are constantly used in the daily functioning of the business. A good example of such activities is information technology. Companies use information technology to simplify their process of doing business.
The four unique nature of business service include, inconsitent, intangible, inseparable and store. Below are some types of business services.
Management service
Management service is one of the activities businesses use to enhance their business growth. These services range from asset management to event management. Though management services do not add any tangible benefit to the business, they are needed for the smooth running of the business.
Information service
Information technology is an integral aspect of business. For any business to progress, it needs information technology. This ranges from software application to social media platforms used in enhancing a business. Information technology cannot be completely ignored when it comes to business growth. Though intangible, it is very important.
Training service
This is also another important business service needed to enhance the progress of any business. Business training goes beyond training a newly hired on some of the skills required for him or her to scale the job. Business training could be training the staff or executive on the latest development needed for the progress of their business. Services as such do not add a tangible value to the business but help to fast-track the business progress.
Finance services
Financial services like financial advisors are important to help a company to ensure it is neither overspending nor understanding. The financial advisor also helps the business ensure it is on track in its choice of investment portfolio. Also a financial advisor would help the business in areas like taxation, depreciation or appreciation, and valuation.
Marketing services
Although in most cases, companies usually have in-house marketers that handle their marketing services, in most cases, some aspect of marketing is outsourced to fasten the process. Marketing services like coming up with new marketing ideas and campaigns are focused on meeting potential customers at the point of their needs. These services, though intangible, are needed for the growth of the business.
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