Part 3: SC Flashcards
An organization whose principal business is the performance of services.
Service Organization
- Activities are of an intangible nature and typically occur in interactions between customers, service employees, and/or physical resources, goods, or systems of the service provider.
- provided as solutions to customer problems
Service
- Defines the company’s business, objectives, and approach to reaching those objectives.
- Identifies the company’s reason for existence.
Mission Statement
- Describes the desired future position of the company.
- Gives the company direction, representing the future of the business and providing purpose.
Vision Statement
How Mission and Vision Statements Work?
- Typically written by senior managers.
- Managers at different levels may write statements for their divisions or units.
-Cater to various aspects of managing independent services.
-Types include finance-related services like asset management, debt management, and stock management services.
- Some sectors require facility these services.
Management Services
- Crucial for organizing business and trade shows, launch events, and important business meetings.
- Involves decisions about venue selection, stall setup, event conduct, and post-event cleanup.
- Third-party agents specialize in event marketing and management.
Event Management Services
- Integral part of every electronic device.
- Involves operating systems, antivirus programs, data backups, and special programs.
- Upgrades and enhancements are essential for security, especially in sectors like banking where online transactions are predominant.
Software Services
- Used by organizations for financial projects, business expansion, mergers, acquisitions, and industry-specific consultations.
- Corporate giants like Accenture provide this type of services across industries.
Consulting Services
- External training agencies provide soft skills and technical training unrelated to the organization’s core competencies.
- Essential for knowledge checks to ensure understanding among participants.
Training Services
An organization whose principal business is the performance of services.
Service Organization
- Requested for taxation, valuation, depreciation, expansion, and investment decisions.
- Financial advisors play a crucial role in managing finances and making stock market decisions.
Financial Services
- Niche marketing services, creative advertising, and marketing agencies are essential.
- Outsourced marketing departments are efficient for quicker and more effective campaigns.
- Market research services are often outsourced for authenticity and valuable information.
Marketing Services
- Outsourced for efficient and economical travel bookings.
- Professional services provide reminders, itineraries, and travel tips.
- Hospitality services are part of travel services, including lodging and boarding
Travel Services
- Essential for business meetings, ensuring proper, hygienic, and culturally sensitive food and beverages.
- Variety is important due to multicultural workplaces.
Catering Services
- Decided whether to keep in-house or outsource to a third party.
- Courier services are crucial for supply chain management, from sending bills to important letters.
- Transportation services are vital for E-Commerce, improving customer satisfaction and retention.
- Commute services for employees are often outsourced to professionals.
Distribution and Supply Chain Services
- Requires immense focus and creativity.
- Encompasses various types, from designing insurance policies to car models to dresses.
- Including both offline and online designing, such as website design, video design, and email design.
Designing Services
- Essential during the inception of a business and later for updates, modifications, or expansions.
- Involves procuring raw materials and ensuring timely project completion.
- Critical for manufacturing plants to meet government regulations and safety requirements.
Construction Services
- Involves recycling excess and unwanted material to minimize ecological impact.
- Crucial for industries to manage waste in an environmentally friendly manner.
- Specific measures like tall chimneys with filters are essential to filter harmful gases.
Waste Management Services
- Necessary for securing premises, both physically and online.
- Part of financial services, providing security for transactions, especially in the banking and government sectors.
- Critical for protecting valuable information in research and development departments.
Security Services
- Provided by organizations to employees on company premises.
- Includes luxury services like swimming pools and gyms, serving as motivation for employees.
- Personal services may also involve escorting, insurance, and medical services, enhancing employee well-being.
Personal Services
Outsourcing and temporary labor arrangements have increased demand for personnel supply services.
Contractual Arrangements
Higher demand for engineering, architecture, surveying, landscaping, and horticultural services.
Increased Construction Activity
Improved technology has driven higher demand for computer services.
Increased demand for computer repair, technical support, and software development.
Changes in Technology
3 Key Economic Developments
contractual arrangements,
increased construction activity,
and changes in technology.