Service Industry
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A Service Industry is an industry that specializes in the provision of services (rather than the production of goods).
- Context:
- It can (typically) produce Intangible Goods that directly affect the economy and quality of life.
- It can (typically) employ Service Industry Worker who perform various service jobs within service-heavy companies.
- It can be categorized under the Tertiary Sector of Industry, which primarily focuses on delivering services directly to consumers and businesses.
- It can often require a high degree of customer interaction and satisfaction measures.
- ...
- Example(s):
- Social Services:
- a Healthcare Industry (for medical services) with institutions such as hospitals, clinics, and nursing homes, providing essential health and wellness services.
- a Educational Industry (for educational services) with institutions such as schools, colleges, and universities, offering learning and development opportunities.
- a Legal Industry (for legal services) with entities such as law firms, courts, and legal consultancy agencies, ensuring legal support and justice.
- Economic Services:
- a Financial Services Industry (for financial services) with institutions such as banks, insurance companies, and investment firms, managing financial transactions and investments.
- Consumer Services:
- a Hospitality Industry (for accommodation services) with establishments such as hotels, resorts, and bed and breakfasts, providing lodging and hospitality.
- a Retail Industry (for consumer services) with facilities such as retail stores, shopping malls, and online marketplaces, catering to consumer shopping needs.
- a Tourism Industry (for tourist services) with entities such as travel agencies and tour operators, facilitating travel and tours.
- Technical Services:
- a Information Technology Services Industry (for IT services) with companies that provide software development services, cybersecurity services, and IT support services, supporting business and consumer technology needs.
- a Transportation Services Industry (for transport services) with providers such as airlines, railways, and bus companies, ensuring mobility and logistics.
- ...
- Social Services:
- Counter-Example(s):
- Manufacturing Industrys for physical products, like automobile industrys that produce cars and trucks.
- Primary Industry, like agriculture industry or mining industry, where the primary focus is on extracting natural resources such as crops or minerals.
- Entertainment Industry, which is involved in the production and distribution of entertainment content such as films, music, and video games, focusing on creative rather than legal services.
- See: Economic Sector, Tertiary Sector of Industry, Quaternary Sector of Industry, Quinary Sector of Industry.
References
2014
- http://en.wikipedia.org/wiki/Category:Service_industries
- QUOTE: The service industries (More formally termed: 'tertiary sector of industry' by economists) involve the provision of services to businesses as well as final consumers. Such, therefore, include accounting, tradesmanship (like mechanic or plumber services), computer services, restaurants, tourism, etc.
Hence, a service Industry is one where no goods are produced whereas primary industries are those that extract minerals, oil etc. from the ground and secondary industries are those that manufacture products, including builders, but not remodeling contractors.
- QUOTE: The service industries (More formally termed: 'tertiary sector of industry' by economists) involve the provision of services to businesses as well as final consumers. Such, therefore, include accounting, tradesmanship (like mechanic or plumber services), computer services, restaurants, tourism, etc.
2012
- http://www.britannica.com/EBchecked/topic/535980/service-industry
- service industry, an industry in that part of the economy that creates services rather than tangible objects. Economists divide all economic activity into two broad categories, goods and services. Goods-producing industries are agriculture, mining, manufacturing, and construction; each of them creates some kind of tangible object. Service industries include everything else: banking, communications, wholesale and retail trade, all professional services such as engineering, computer software development, and medicine, nonprofit economic activity, all consumer services, and all government services, including defense and administration of justice. A services-dominated economy is characteristic of developed countries. In less-developed countries most people are employed in primary activities ... (100 of 234 words)