Shopping on line can be easy, simple and save you lots of money. It can also take a lot of your time, frustrate you, and result in unwanted purchases. Now the same can be said for regular high street shopping, but with the vast opportunity presented by the Internet it will pay you to spend a few minutes reading this and understanding how to better optimize your Service Sector shopping experience:
1. Compare - without doubt the biggest advantage that the Service Sector offers shoppers today is the ability to compare thousands of Service Sector at a time. This is a great thing, but not necessarily all the time! Too much can be daunting at times so take advantage of the great comparison sites and where possible let them do the hard work for you.
2. Research - if it has been said it will be on the internet. Ignorance is no longer a justifiable reason for buying the wrong thing. Take the time to research in detail everything that you could possible want to know about
3. Testimonials - don't know anybody that has bought a Service Sector? Wrong! If the Service Sector is good the internet will let you know. Use the Internet as a friend and get testimonials before you buy.
4. Questions - Got a question about Service Sector then search the Forums, FAQ's, Blogs etc. Don't be afraid to ask .....
5. Reputation - Never heard of the company selling Service Sector? Don't worry, no reason why you should know every company in the world, but you know someone that does! Use the internet to find out what people are saying about Service Sector and build up a picture of their reputation for sales, returns, customer service, delivery etc.
6. Returns - still worried that even after all of the above your Service Sector wont be what you want? Check out the returns policy. There is so much competition now that someone, somewhere is bound to offer the terms that you are comfortable with.
7. Feedback - happy with your Service Sector then let people know, after all you are depending on others people input in your buying decision, so why not give a little back.
8. Security - check for the yellow padlock on the Service Sector site before you buy, and the s after http:/ /i.e. https:// = a secure site
9. Contact - got a question about Service Sector, or want to leave a comment then check out the sites contact page. Reputable companies have them and respond.
10. Payment - ready to pay for your Service Sector, then use your credit card or PayPal! Be aware of companies that don't accept them, there may be genuine reasons but given the huge amount of choice you have when buying online there is no reason at all not to buy via credit card or PayPal.
The
tertiary sector of industry (also known as the
service sector or the
service industry) is one of the three main industrial categories of a developed Economics, the others being the secondary industry (
manufacturing), and primary industry (extraction such as
mining,
agriculture and fishing). Services are defined in conventional economic literature as "intangible goods".
The tertiary sector of industry involves the provision of services to businesses as well as final consumers. Services may involve the
transport,
distribution (business) and sale of goods from producer to a consumer as may happen in wholesaler and
retailer, or may involve the provision of a service, such as in
pest control or entertainment. Goods may be transformed in the process of providing a service, as happens in the restaurant industry or in equipment repair. However, the focus is on people interacting with people and serving the customer rather than transforming physical goods.
Components
The service sector consists of the "soft" parts of the economy such as
insurance,
government, tourism, banking, retail, education, and social services. In soft-sector employment, people use time to deploy knowledge assets, collaboration assets, and process-engagement to create productivity (effectiveness), performance improvement potential (potential) and sustainability. Typically the output of this time is content (information), service, attention, advice, experiences, and/or discussion (also known as "intangible goods"). Other examples of service sector employment include:
Public utility are often considered part of the tertiary sector as they provide services to people, while creating the utility's infrastructure is often considered part of the secondary sector, even though the same business may be involved in both aspects of the operation.
To do fact-based work in this area it is necessary to utilize the extensive data collection that takes place using classification systems such as the
United Nations's
International Standard Industrial Classification standard, the
United States' Standard Industrial Classification (SIC) code system and its new replacement, the North American Industrial Classification System (NAICS), and similar systems in the EU and elsewhere.
The term
service economy, in contrast, refers to a model wherein as much economic activity as possible is treated as a service. For example IBM treats its business as a service business. Although it still manufactures high-end computers, it sees the physical goods as a small part of the "business solutions" industry. They have found that the price elasticity of demand for "business solutions" is much less than that for hardware. There has been a corresponding shift to a subscription business model. Rather than receiving a single payment for a piece of manufactured equipment, many manufacturers are now receiving a steady stream of revenue for ongoing contracts.
Theory of progression
Economies tend to follow a developmental progression that takes them from a heavy reliance on agriculture and mining, toward the development of industry (e.g. automobiles, textiles, shipbuilding, steel) and finally toward a more service based structure. Whereas the first economy to follow this path in the modern world was the
United Kingdom, the speed at which other economies have later made the transition to service-based, sometimes called post-industrial, has accelerated over time.
Historically manufacturing tended to be more open to
international trade and competition than services. As a result, there has been a tendency for the first economies to industrialize to come under competitive attack by those seeking to industrialize later, e.g. because production, especially labour (economics), costs are lower in those industrializing later. The resultant shrinkage of manufacturing in the leading economies might explain their growing reliance on the service sector.
However, currently and prospectively, with dramatic cost reduction and speed and reliability improvements in the transportation of people and the communication of information, the service sector now includes some of the most intensive international competition, despite residual
protectionism.
Attitudes toward tertiary sector
According to some economists, the service sector tends to be wealth consuming, whereas manufacturing is wealth producing.David Friedman, New America Foundation (2002-06-16). No Light at the End of the Tunnel
Los Angeles Times.
Keith Joseph in his lecture
Monetarism IS Not Enough, contrasted wealth-producing sectors in an economy such as manufacturing with the service sector which tends to be a wealth-consuming sector. He contended that an economy declines as its wealth-producing sector begins to shrink. Sir
Keith Joseph, Center for Policy Studies (1976-04-05). Stockton Lecture,
Monetarism Is Not Enough, with forward by Margaret Thatcher. (Barry Rose Pub.) Margaret Thatcher Foundation (2006).
Issues for service providers
Service providers face obstacles selling services that goods-sellers rarely face. Services are not tangible, making it difficult for potential customers to understand what they will receive and what value it will hold for them. Indeed some, such as
consulting and investment services, offer no guarantees of the value for price paid.
Since the quality of most services depends largely on the quality of the individuals providing the services, it is true that "people costs" are a high component of service costs. Whereas a manufacturer may use technology, simplification, and other techniques to lower the cost of goods sold, the service provider often faces an unrelenting pattern of increasing costs.
Differentiation is often difficult. How does one choose one investment advisor over another, since they (and hotel providers, leisure companies, consultants, and others) often seem to provide identical services? Charging a premium for services is usually an option only for the most established firms, who charge extra based upon brand
See also
References
The
tertiary sector of industry (also known as the
service sector or the
service industry) is one of the three main industrial categories of a developed Economics, the others being the secondary industry (manufacturing), and
primary industry (extraction such as mining, agriculture and
fishing). Services are defined in conventional economic literature as "intangible goods".
The tertiary sector of industry involves the provision of services to businesses as well as final consumers. Services may involve the
transport,
distribution (business) and sale of goods from producer to a consumer as may happen in wholesaler and retailer, or may involve the provision of a service, such as in
pest control or entertainment. Goods may be transformed in the process of providing a service, as happens in the restaurant industry or in equipment repair. However, the focus is on people interacting with people and serving the customer rather than transforming physical goods.
Components
The service sector consists of the "soft" parts of the economy such as
insurance,
government, tourism, banking, retail,
education, and
social services. In soft-sector employment, people use time to deploy knowledge assets, collaboration assets, and process-engagement to create productivity (effectiveness), performance improvement potential (potential) and sustainability. Typically the output of this time is content (information), service, attention, advice, experiences, and/or discussion (also known as "intangible goods"). Other examples of service sector employment include:
Public utility are often considered part of the tertiary sector as they provide services to people, while creating the utility's
infrastructure is often considered part of the secondary sector, even though the same business may be involved in both aspects of the operation.
To do fact-based work in this area it is necessary to utilize the extensive data collection that takes place using classification systems such as the United Nations's International Standard Industrial Classification standard, the United States' Standard Industrial Classification (SIC) code system and its new replacement, the
North American Industrial Classification System (NAICS), and similar systems in the EU and elsewhere.
The term
service economy, in contrast, refers to a model wherein as much economic activity as possible is treated as a service. For example IBM treats its business as a service business. Although it still manufactures high-end computers, it sees the physical goods as a small part of the "business solutions" industry. They have found that the price elasticity of demand for "business solutions" is much less than that for hardware. There has been a corresponding shift to a
subscription business model. Rather than receiving a single payment for a piece of manufactured equipment, many manufacturers are now receiving a steady stream of revenue for ongoing contracts.
Theory of progression
Economies tend to follow a developmental progression that takes them from a heavy reliance on agriculture and mining, toward the development of industry (e.g. automobiles, textiles, shipbuilding, steel) and finally toward a more service based structure. Whereas the first economy to follow this path in the modern world was the United Kingdom, the speed at which other economies have later made the transition to service-based, sometimes called post-industrial, has accelerated over time.
Historically manufacturing tended to be more open to international trade and competition than services. As a result, there has been a tendency for the first economies to industrialize to come under competitive attack by those seeking to industrialize later, e.g. because production, especially labour (economics), costs are lower in those industrializing later. The resultant shrinkage of manufacturing in the leading economies might explain their growing reliance on the service sector.
However, currently and prospectively, with dramatic cost reduction and speed and reliability improvements in the transportation of people and the communication of information, the service sector now includes some of the most intensive international competition, despite residual protectionism.
Attitudes toward tertiary sector
According to some economists, the
service sector tends to be wealth consuming, whereas manufacturing is wealth producing.David Friedman, New America Foundation (2002-06-16). No Light at the End of the Tunnel
Los Angeles Times. Keith Joseph in his lecture
Monetarism IS Not Enough, contrasted wealth-producing sectors in an economy such as manufacturing with the service sector which tends to be a wealth-consuming sector. He contended that an economy declines as its wealth-producing sector begins to shrink. Sir Keith Joseph, Center for Policy Studies (1976-04-05). Stockton Lecture,
Monetarism Is Not Enough, with forward by Margaret Thatcher. (Barry Rose Pub.) Margaret Thatcher Foundation (2006).
Issues for service providers
Service providers face obstacles selling services that goods-sellers rarely face. Services are not tangible, making it difficult for potential customers to understand what they will receive and what value it will hold for them. Indeed some, such as consulting and
investment services, offer no guarantees of the value for price paid.
Since the quality of most services depends largely on the quality of the individuals providing the services, it is true that "people costs" are a high component of service costs. Whereas a manufacturer may use technology, simplification, and other techniques to lower the cost of goods sold, the service provider often faces an unrelenting pattern of increasing costs.
Differentiation is often difficult. How does one choose one investment advisor over another, since they (and hotel providers, leisure companies, consultants, and others) often seem to provide identical services? Charging a premium for services is usually an option only for the most established firms, who charge extra based upon brand
See also
- Primary sector of industry
- Secondary sector of industry
- Quaternary sector of industry
- Three-sector hypothesis
- Industrial policy
References
Service Sector
Large Business Service - Sector Leader List - May 2008
Large Business Service - Sector Leader List - June 2008 Large Business Service - Sector Leader List - May 2008
BBC NEWS | Business | US service sector in sharp fall
The US service sector contracted in January for the first time in almost five years, a survey shows.
BBC NEWS | Business | Surprise growth in service sector
The UK service sector grew unexpectedly in January, raising doubt about the extent of the economic slowdown.
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Careers in Public Service - Working in the Public Service sector
Report created by iceni to promote the benefits of working in the Public Service sector, and show the diverse choice of opportunities available.
The Times 100 UK - Jargon Buster
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London Met's Business and Service Sector Management department, with over 3000 students in central London
