Business services are a class of economic services. They are a subset of economic services and have a number of common characteristics. These services are provided by businesses, who act both as service providers and consumers. The most common service categories are financial, intangible, technical, and support. In addition, business services can be categorized according to their associated technology.
Intangible business services are services that cannot be physically exchanged. They cannot be seen, touched, tasted, or heard. They are thus difficult to measure or standardize. They may be perceived differently by different consumers.
Technical business services are the services that support business processes. While these services are usually not critical to the business, when they become unavailable they can impact a business service.
Business services can have a variety of supporting services. These can be technical services or other business services. Support for these services can be provided when a business service is unavailable or experiencing an incident. When an incident affects a business service, the supporting service will be affected, too.
Associated with IT
Information technology (IT) business services encompass a variety of work processes that support a business but don’t necessarily create tangible products or services. IT business services help align IT assets with business needs and goals and help companies achieve their objectives profitably. Typical activities associated with IT business services include auditing IT infrastructure processes and updating IT service catalogs.
Related to financial services
The financial services industry encompasses a variety of industries, including insurance, investment management, and money management. These businesses help people and businesses manage and invest their money and are crucial to the overall economy of a nation. These industries are expanding and evolving, and are part of our everyday lives.
Associated with transport manufacturing
The transportation industry includes a broad range of products that move people and goods around the world. Some of the most common products manufactured in the industry include motor vehicles, trains, airplanes, and automobile parts. In addition, this industry includes the construction of ships. In the future, the industry is expected to expand at a significant rate, with demand from emerging markets and digital transformation helping to shape the market in many ways.