A business service is any activity or process that supports a company’s core business operations. This can include business management, accounting, marketing and IT services. Businesses that provide these services typically have a specific industry focus and offer scalable solutions. Some of these services are offered to external clients, while others are confined to a particular geographic region. The right business services can help startups gain a competitive advantage and improve their overall success rate.
A common challenge facing many business services firms is ensuring that they can provide their customers with quality service while maintaining low costs. To accomplish this task, companies must design their services to be as efficient and effective as possible. They must also ensure that they can meet the needs of their customers, even when those needs change over time.
The Office of Business Services provides leadership and expertise in the development, implementation and continuous improvement of auxiliary services essential to Kean University’s mission. The Office serves as the institutional liaison with major vendors that provide such services to the University, including food services, bookstore services, vending services, cash management and treasury operations.
A key characteristic of business services is their intangibility, meaning they do not produce any physical products. They can only be experienced by the customer through interactions and expert knowledge. For example, a customer may experience satisfaction with a service through his or her interaction with a teacher, doctor, bank teller or other professional. This is in contrast to physical products, where the satisfaction a consumer receives from their purchase often depends on the quality of the product itself.
As a result of their intangibility, business services can be harder to manage than other types of products and assets. Because they are nebulous and difficult to quantify, it’s important for business service managers to have an effective strategy to measure performance. A comprehensive performance measurement system can help them identify issues and make necessary adjustments to improve service levels and customer satisfaction.
Another challenge faced by business services companies is the fact that unlike physical products, services cannot be stored or stockpiled. This means that service providers must constantly adapt their offerings to meet current customer needs, which can be very volatile. For example, a television repairperson can either go to the customer or the customer can bring the TV to him or her. In the latter case, the service provider must either invest in a mobile truck or find creative ways to reduce transport costs by allowing customers to self-service their equipment. Despite these challenges, the business services sector can be a rewarding career choice for those with the right skills and qualifications. To succeed in this field, managers must develop a strong foundation of business knowledge and skills and be prepared to deal with high-pressure situations. To learn more about a business services career, visit our Job Boards and view our job simulation here.
