Service Industry

A Service Industry is an industry that specializes in the provision of service offerings (rather than the production of tangible goods).

• AKA: Service Sector, Tertiary Industry, Service Economy Segment.
• Context:
  • It can typically produce Intangible Goods that directly affect the service economy and service customer quality of life.
  • It can typically employ Service Industry Workers who perform various service industry jobs within service industry companies.
  • It can typically deliver Service Product through service delivery channels and service provision systems.
  • It can typically generate Service Economic Value through service transactions and service consumption.
  • It can typically follow Service Industry Regulation through service industry compliance measures and service industry standard adherence.
  • It can typically utilize Service Industry Technology for service delivery enhancement and service efficiency improvement.
  • It can typically measure Service Industry Performance using service industry metrics and service industry key performance indicators.
  • ...
  • It can often develop Service Industry Innovation through service industry research and service industry development processes.
  • It can often establish Service Industry Standard through service industry association and service industry governance body.
  • It can often experience Service Industry Trend through service industry consumption pattern shift and service industry technological advancement.
  • It can often create Service Industry Employment Opportunity across service industry segments and service industry specializations.
  • It can often require high degree of Service Customer Interaction and service customer satisfaction measurement.
  • ...
  • It can range from being a Traditional Service Industry to being a Digital Service Industry, depending on its service industry technology adoption and service industry digital transformation.
  • It can range from being a Local Service Industry to being a Global Service Industry, depending on its service industry geographic scope and service industry market reach.
  • It can range from being a Labor-Intensive Service Industry to being an Automated Service Industry, depending on its service industry automation level and service industry human capital requirement.
  • It can range from being a Regulated Service Industry to being an Unregulated Service Industry, depending on its service industry regulatory framework and service industry oversight requirement.
  • It can range from being a Consumer-Focused Service Industry to being a Business-Focused Service Industry, depending on its service industry customer segment and service industry target market.
  • It can range from being a Low-Skill Service Industry to being a High-Skill Service Industry, depending on its service industry workforce qualification and service industry expertise requirement.
  • ...
  • It can have Service Industry Economic Impact through service industry GDP contribution, service industry employment generation, and service industry economic multiplier effect.
  • It can have Service Industry Structure including service industry supply chain, service industry distribution channels, and service industry operational models.
  • It can have Service Industry Classification through service industry categorization systems and service industry segmentation frameworks.
  • It can have Service Industry Growth Rate based on service industry market expansion and service industry demand increase.
  • It can have Service Industry Barrier to Entry related to service industry regulation, service industry capital requirement, and service industry expertise need.
  • ...
  • It can be categorized under the Tertiary Sector of Industry, which primarily focuses on delivering service industry offerings directly to service industry consumers and service industry businesses.
  • It can be Service Industry Measured through service industry economic indicators and service industry performance metrics.
  • It can be Service Industry Analyzed using service industry research methodology and service industry statistical approaches.
  • It can be Service Industry Compared across service industry regional differences and service industry international variations.
  • ...
• Examples:
  • Service Industry Sectors by customer type, such as:
    • Social Service Industrys (of social services), such as:
      • Healthcare Service Industry for medical service with institutions such as hospitals, clinics, and nursing homes.
      • Educational Service Industry for educational service with institutions such as schools, colleges, and universities.
      • Legal Service Industry for legal service with entities such as law firms, courts, and legal consultancy agencies.
    • Economic Service Industrys (of economic services), such as:
      • Financial Service Industry for financial service with institutions such as banks, insurance companies, and investment firms.
      • Banking Service Industry for banking service with retail banks, commercial banks, and investment banks.
      • Insurance Service Industry for insurance service with life insurance providers, property insurance providers, and health insurance providers.
    • Consumer Service Industrys (of consumer services), such as:
      • Hospitality Service Industry for accommodation service with establishments such as hotels, resorts, and bed and breakfasts.
      • Retail Service Industry for consumer service with facilities such as retail stores, shopping malls, and online marketplaces.
      • Tourism Service Industry for tourist service with entities such as travel agencies and tour operators.
      • Food Service Industry for dining service with restaurants, catering companies, and food delivery services.
    • Technical Service Industrys (of technical services), such as:
      • Information Technology Service Industry for IT service with companies that provide software development services, cybersecurity services, and IT support services.
      • Transportation Service Industry for transport service with providers such as airlines, railways, and bus companies.
      • Telecommunications Service Industry for communication service with mobile network operators, internet service providers, and satellite communication companies.
  • Service Industry Classifications by service delivery method, such as:
    • Physical Service Industrys (of physical services), such as:
      • In-Person Service Industry for face-to-face service delivery.
      • On-Site Service Industry for location-based service provision.
      • Facility-Based Service Industry for premise-dependent service.
    • Digital Service Industrys (of digital services), such as:
      • Cloud Service Industry for cloud computing service.
      • E-Commerce Service Industry for online transaction service.
      • Digital Media Service Industry for electronic content service.
      • Software-as-a-Service Industry for cloud application service.
  • Service Industry Models by business focus, such as:
    • Business-to-Business Service Industrys (of B2B services), such as:
      • Professional Service Industry for business advisory service.
      • Consulting Service Industry for business expertise service.
      • Outsourcing Service Industry for business process service.
    • Business-to-Consumer Service Industrys (of B2C services), such as:
      • Personal Care Service Industry for individual wellbeing service.
      • Entertainment Service Industry for leisure experience service.
      • Household Service Industry for home maintenance service.
  • ...
• Counter-Examples:
  • Manufacturing Industry, which produces physical goods rather than providing service offerings.
  • Agricultural Industry, which grows agricultural products rather than delivering service solutions.
  • Extractive Industry, which obtains natural resources rather than creating service experiences.
  • Construction Industry, which builds physical structures rather than supplying service delivery.
  • Primary Industry, like agriculture industry or mining industry, where the primary focus is on extracting natural resources such as crops or minerals rather than service provision.
  • Secondary Industry, which transforms raw materials into finished products rather than creating intangible service.
• See: Economic Sector, Tertiary Sector of Industry, Quaternary Sector of Industry, Quinary Sector of Industry, Service Economy, Service Sector GDP, Service Business, Service Management.

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References

2014

• http://en.wikipedia.org/wiki/Category:Service_industries
  • QUOTE: The service industries (More formally termed: 'tertiary sector of industry' by economists) involve the provision of services to businesses as well as final consumers. Such, therefore, include accounting, tradesmanship (like mechanic or plumber services), computer services, restaurants, tourism, etc.

    Hence, a service Industry is one where no goods are produced whereas primary industries are those that extract minerals, oil etc. from the ground and secondary industries are those that manufacture products, including builders, but not remodeling contractors.

2012

• http://www.britannica.com/EBchecked/topic/535980/service-industry
  • service industry, an industry in that part of the economy that creates services rather than tangible objects. Economists divide all economic activity into two broad categories, goods and services. Goods-producing industries are agriculture, mining, manufacturing, and construction; each of them creates some kind of tangible object. Service industries include everything else: banking, communications, wholesale and retail trade, all professional services such as engineering, computer software development, and medicine, nonprofit economic activity, all consumer services, and all government services, including defense and administration of justice. A services-dominated economy is characteristic of developed countries. In less-developed countries most people are employed in primary activities ... (100 of 234 words)

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