The Business services industry is a broad category of industries that provide non-financial services to other businesses. This includes a variety of different types of service such as IT services, marketing services, consulting services, logistics, and more. These services help businesses by enhancing operations and growth. Business services also offer scalability and flexibility for companies to adapt their business needs to changing market conditions.
A business service can be a critical function that is essential to an organization’s core operations and customers, or it can be a non-critical support function such as accounting, warehousing, and human resources. Business services can be provided internally or by external service providers. For example, a large company may hire a consulting firm to help it develop a new strategy or improve its existing processes. Smaller companies might use a staffing agency to manage their human resource needs.
Unlike goods, which are tangible and can be stockpiled for later consumption, services are intangible and cannot be stored. This is one of the key characteristics that differentiates business services from goods. In addition, business services are not produced or delivered in the same way that goods are, as they are used when needed rather than when ordered. This makes them more flexible than goods, which must be stockpiled and distributed in a fixed manner.
Business services can be grouped into five distinct categories: enabling capabilities, supporting business activities, driving innovation, and fostering efficiency and competitiveness. By leveraging these services, organizations can optimize their operations, deliver value to customers, and achieve their strategic objectives.
When it comes to providing business services, a good place to start is with the core capabilities of the company. This will give you an idea of the areas that need improvement or where there are opportunities to expand or grow. You can then determine which of the business services are critical to your company and focus on those.
In IT, a business service is a logical grouping of related IT services that are monitored together as a single entity in the event of an incident. You can monitor business services via an external status page, in a service catalog/CMDB, or in relation to existing health metrics from your monitoring tool.
By default, incidents on any supporting technical service that has a priority of at least 1 will impact the business service. However, you can select a business service to only be affected by incidents that meet a higher threshold of priority. To change a business service’s priority threshold, navigate to Services Business services and click the name of the desired business service. In the Edit view, click the Priority threshold dropdown and select a new threshold. You can also select a service to display first on the Business services page by clicking the checkbox next to it. To delete a business service, navigate to Services Business services and click the Delete icon. You must have at least Manager or Global Admin base role to edit or delete a business service.