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Role of Services in an Economy. Welcome to Service Management Professor James Fitzsimmons University of Texas at Austin. Learning Objectives. Describe the central role of services in an economy. Discuss the evolution of an economy from an agrarian society to a service society.

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Role of Services in an Economy

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Role of services in an economy l.jpg

Role of Services in an Economy

Welcome to

Service Management

Professor James Fitzsimmons

University of Texas at Austin


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Learning Objectives

  • Describe the central role of services in an economy.

  • Discuss the evolution of an economy from an agrarian society to a service society.

  • Describe the features of preindustrial, industrial, and postindustrial societies.

  • Describe the features of the new service economy


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Service Definitions

Services are deeds, processes, and performances.

Valarie Zeithaml & Mary Jo Bitner

A service is a time-perishable, intangible experience performed for a customer acting in the role of a co-producer.

James Fitzsimmons


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Definition of Service Firms

Service enterprises are organizations that facilitate the production and distribution of goods, support other firms in meeting their goals, and add value to our personal lives.

James Fitzsimmons


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Role of Services in an Economy


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Percent Service Employment for Selected Nations

Country 1980 1987 19932000

United States 67.1 71.0 74.374.2

Canada 67.2 70.8 74.874.1

Israel 63.3 66.0 68.0 73.9

Japan 54.5 58.8 59.972.7

France 56.9 63.6 66.470.8

Italy 48.7 57.7 60.2 62.8

Brazil 46.2 50.0 51.9 56.5

China 13.1 17.8 21.2 40.6


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Trends in U.S. Employment by Sector


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Stages of Economic Development

Pre- Use of Standard

dominant human Unit of of living

Society Game activity labor social life measure Structure Technology

Pre- Against Agriculture Raw Extended Sub- Routine Simple hand

Industrial Nature Mining muscle household sistence Traditional tools

power Authoritative

Industrial Against Goods Machine Individual Quantity Bureaucratic Machines

fabricated production tending of goods Hierarchical

nature

Post- Among Services Artistic Community Quality of Inter- Information

industrial Persons Creative life in terms dependent

Intellectual of health, Global

education,

recreation


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The New Experience Economy


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The Four Realms of an Experience


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Experience Design Principles

  • Theme the Experience (Forum shops)

  • Harmonize Impressions with Positive Cues(O’Hare airport parking garage)

  • Eliminate Negative Cues(Cinemark talking trash containers)

  • Mix in Memorabilia (Hard Rock T-shirts)

  • Engage all Five Senses (Mist in Rainforest)


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Source of Service Sector Growth

  • InnovationPush theory (e.g. Post-it)Pull theory (e.g. Cash Management)Services derived from products (Video Rental)Information driven servicesDifficulty of testing service prototypes

  • Social TrendsAging of the populationTwo-income familiesGrowth in number of single peopleHome as sanctuary


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Discussion Topics

  • Illustrate how the type of work he or she does influences a person’s lifestyle. For example, contrast a farmer, a factory worker, and a school teacher.

  • Is it possible for an economy to be based entirely on services?

  • What is the value of self-service in an economy?


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Interactive Class Exercise

  • The class breaks into small groups. Each group identifies service firms that should be listed in the top Fortune 100 and places them in rank order of estimated annual revenue.www.fortune.com/lists/F500/index.html


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