Handbook of Service Business
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Handbook of Service Business Management, Marketing, Innovation and Internationalisation

Management, Marketing, Innovation and Internationalisation

  • Research Handbooks in Business and Management series

Edited by John R. Bryson and Peter W. Daniels

Service business accounts for more than 75 per cent of the wealth and employment created in most developed market economies. The management and economics of service business is based around selling expertise, knowledge and experiences. This Handbook contributes to on-going debates about the nature of service business and the characteristics of service-led economies by exploring disciplinary perspectives on services, services and core business processes and the management of service business. A series of case studies are also provided. The volume pushes back the frontiers of current critical thinking about the role of service business by bringing together eminent scholars from economics, management, sociology, public policy, planning and geography.
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Chapter 8: Creating and capturing value in the service economy: the crucial role of business services in driving innovation and growth

Michael Ehret and Jochen Wirtz

Extract

Developed economies are service economies. Managers and researchers have yet to pay attention to one of the major drivers of this phenomenon: the rise of business services through the opening up of new business models. Contrary to popular opinion, the share of consumer services in economic output has remained rather stable over time, while the share of business services has been rising continuously (Ehret and Wirtz 2010). Business services constitute the backbone of the networked enterprise. While the vertically integrated firm used to dominate the age of manufacturing, service economies build on networks of specialized firms where businesses can hire almost any conceivable business activity or resource as a service.

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