The Business services industry is a large sector that covers many different sectors including IT, engineering, architecture and law. It also includes staffing, consulting, facilities management and waste management, among others. While some jobs in this industry require no more than a high school diploma or GED certificate, those with college degrees and dedicated business skills will find themselves in highly competitive and well-paid positions.
The main characteristic of business services is that they are intangible, meaning that the provision of a service does not result in the production of a tangible product. This is in contrast to goods, where the production and consumption processes are separated and products can be stored for future use. Another distinct feature of business services is their inseparability. Because a service is consumed at the same time as it is produced, the customer’s experience will vary from one interaction to the next.
As a result of their intangibility, business services can be outsourced. This can help companies focus on their core activities and reduce the cost of noncore operations. In addition, outsourcing can allow a company to gain access to experts or specialists in their field without having to invest in training and hiring employees.
For example, a company may outsource its IT services to a provider to manage servers and networks. This allows the company to focus on its core IT operations while allowing a specialist to take care of other business-critical IT services such as database management or application integration.