A business services industry involves sectors such as advertising, consulting, logistics (including travel and facilities services), staffing services, waste handling, shipping and administration to name just a few. Nearly every company in operation has need of some of the services offered by this broad category of industry, and there are many different ways to get involved in it.
For example, some business service jobs require just a high school diploma or GED certificate while others may demand a bachelor’s degree or even a master’s degree in a specific area of expertise. In addition, some positions in this sector offer the opportunity to work at home, a benefit that can appeal to people who want to avoid the commute or need a flexible schedule.
Another advantage of a career in business services is that it can provide the fastest path to generating revenue and increasing profitability. This is because services don’t require the production or storage of a physical product, which means that companies can start generating revenue from their specialized expertise as soon as they begin to market it. Moreover, service businesses can also benefit from the fact that they can charge higher prices for their specialized services and they can generate recurring revenues through long-term contracts with customers.
The Office of Business Services provides leadership and expertise in the development, implementation and continuous improvement of auxiliary services essential for Kean University to function as an institution of higher learning. The Office of Business Services provides centralized management and coordination for all auxiliary services including food services, campus bookstore, copy center, vending services, cashiering operations, banking services, capital financing and petty cash.
In addition to providing administrative support for all auxiliary services, the Office of Business Services acts as an institutional liaison with all major vendors in these areas and provides a variety of training opportunities for University faculty and staff. The Office of Business Services has recently been recognized as a best practice model for the University by its peers in higher education.
Employment in the professional and business services supersector is projected to grow faster than any other occupational group. This is due to the increasing number of businesses that are outsourcing noncore activities to specialists or experts in order to reduce costs and focus on their core competencies. Outsourcing has also been accelerated by the COVID-19 pandemic, which has led to an increase in demand for a variety of business services.
The following are the five characteristics that distinguish business services from other economic services: