Service Economics: Profitable growth with a brand driven service strategy

Service economics is an umbrella phrase, coined by the authors, to convert the wide-ranging intangible aspects of service (including but not limited to processes, people, customers, strategy, brand values, competencies) into something tangible (such as financial information) that can be applied by the broader business community. With this information insight will be gained into how service is delivered, to promote a highly valuable impact within and alongside businesses today. For a long time it has proved difficult for service to be the source of excellent performance and profitability. Service Economics focuses on the value that service businesses represents when effectively dealing with the growing complexity of demands and expectations of customers and suppliers, to achieve an effective and profitable partnership. Service Economics is now becoming a hot topic in the C suite boardroom and is fast creating a new awakening into the importance of the Service business.