Business services are an increasingly important sector, making up 11% of EU GDP. They include professional services such as those offered by law firms and advertising agencies; IT services such as those provided by an IT consultancy; and other non-IT business services including human resources, employment, and facility management services.
In recent years, new communications technologies and infrastructure have allowed many service industries to expand rapidly. Business services companies are developing fast to meet changing customer demands. They are looking for ways to use technology to deliver services more efficiently, and they are seeking out partnerships with other companies that can help them innovate.
To compete with upstarts, service businesses must be able to manage the four pillars of their business model: value creation (design, production, delivery, and maintenance) and customer interaction. Managers need to ensure that the design of each pillar is strong enough to attract customers, and they must field a workforce capable of delivering services at a price that makes financial sense. In addition, they need to find creative ways to involve customers in the production of their services – either by offering a self-service alternative, for example, or by offsetting the costs of their products with operational savings. To view your favorites on the Business Services page, click the star icon (). You can also create custom dashboards for viewing your favorite services. To learn more, see the Creating Dashboards article.