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Most business theorists see a continuum with pure service at one endpoint and pure tangible commodity goods at the other. Most products fall between these two extremes. For example, a restaurant provides a physical good (prepared food), but also provides services in the form of ambience, the setting and clearing of the table, etc.
Service industries are those not directly concerned with the production of physical goods (such as agriculture and manufacturing).Some service industries, including transportation, wholesale trade and retail trade are part of the supply chain delivering goods produced in the agricultural and manufacturing sectors to final consumers.
The old dichotomy between product and service has been replaced by a Service (economics) service–product continuum . Many products are being transformed into services. For example, IBM treats its business as a service business. Although it still manufactures computers, it sees the physical goods as a small part of the "business solutions ...
Business services are a recognisable subset of economic services, and share their characteristics. The essential difference is that businesses are concerned about the building of service systems in order to deliver value to their customers and to act in the roles of service provider and service consumer.
Commerce is the process of exchanging goods and services. [22] It is not just a single activity, but a set of activities that includes trade (buying and selling goods and services) and auxiliary services or aids to trade, [23] that includes communication and marketing, logistics, finance, banking, insurance, and legal services related to trade ...
It provides a means for describing the service business from an operations point of view. After defining the service concept, operations can proceed to define the service-product bundle (or service package) for the organization. It consists of five parts: service facility, facilitating goods, information, explicit service and implicit services. [4]
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The concept of production systems can be expanded to the service sector world keeping in mind that services have some fundamental differences in respect to material goods: intangibility, client always present during transformation processes, no stocks for "finished goods". Services can be classified according to a service process matrix: [40 ...