The term “Business services” encompasses any industry that provides support to a company’s infrastructure and productivity. These industries include IT, finance, procurement and shipping, administrative and personnel services, security, waste handling and staffing, as well as many other types of support services that are essential to a company’s operation. These services help businesses focus on their core operations and serve as a valuable tool for companies that are seeking to outsource noncore activities.
As one of the largest service sectors in Europe, business services contribute 11% of European GDP and continue to be vital to economic competitiveness in the face of globalisation and the growing role of services in enhancing product value. They also offer an opportunity for further growth in the form of new combinations of goods and services in a “services-led” economy.
Unlike goods, business services are intangible and cannot be stored for future use like inventory. They are produced and consumed at the same time, with the provider and customer interacting throughout the process. This interaction can significantly influence the quality of the service and lead to different experiences for each customer. In order to better understand the nature of business services, we must first consider some basic definitions.
The Office of Business Services is responsible for the development, implementation and continuous improvement of auxiliary services necessary for Kean University to fulfill its mission as an institution of higher education. The office serves as the institutional liaison with major vendors who provide these services to Kean, including food services, the campus bookstore, vending machines, cash management, banking and treasury operations, travel services, risk management and capital financing.
While many people view business services as a subset of the economic services sector, they are in fact very distinct. In general, economic services are concerned with the building of service systems to deliver value to customers and act as both service providers and service consumers. In contrast, business services are focused on balancing the components of a service system and there are some very powerful techniques for this that can be learned.
Ultimately, the decision to pursue a career in business services should come down to your personal skills and interests. If you enjoy working in a fast-paced environment, have great interpersonal communication and organizational skills, and are comfortable with the high level of pressure that business services can often contain, it may be a good fit for you. However, if you prefer to work in more of a creative or technical industry, a career in business services might not be the best path for you.
As the demand for business services continues to rise, the need for qualified professionals in this field is also increasing. If you’re interested in pursuing a job in the business services field, we recommend taking one of our free online courses at Break Free Academy to fortify your skill set and qualifications. These online programs can give you the practical experience that employers are looking for and help you stand out from your competitors.