Manufacturing-led development has provided the traditional model for creating jobs and prosperity. But in the past three decades the conventional pattern of structural transformation has changed, with the services sector growing faster than the manufacturing sector. This raises critical questions about the ability of developing economies to close productivity gaps with advanced economies and to create good jobs for more people. At Your Service? The Promise of Services-Led Development (www.worldbank.org/services-led-development) assesses the scope of a services-driven development model and policy directions that can maximize the model’s potential.
The bestselling business book from award-winning restauranteur Danny Meyer, of Union Square Cafe, Gramercy Tavern, and Shake Shack Seventy-five percent of all new restaurant ventures fail, and of those that do stick around, only a few become icons. Danny Meyer started Union Square Cafe when he was 27, with a good idea and hopeful investors. He is now the co-owner of a restaurant empire. How did he do it? How did he beat the odds in one of the toughest trades around? In this landmark book, Danny shares the lessons he learned developing the dynamic philosophy he calls Enlightened Hospitality. The tenets of that philosophy, which emphasize strong in-house relationships as well as customer satisfaction, are applicable to anyone who works in any business. Whether you are a manager, an executive, or a waiter, Danny’s story and philosophy will help you become more effective and productive, while deepening your understanding and appreciation of a job well done. Setting the Table is landmark a motivational work from one of our era’s most gifted and insightful business leaders.
Service firms have high overhead costs which are difficult to assign to individual services. To bring transparency to their value chain, they need costing approaches that help them find their own improvements. Markus B. Baum explores current theory and practice of value chain approaches and cost accounting to develop a costing approach with a suitable instrument for the allocation of fixed and overhead costs for a service firm. He describes the service business costing (SBC) approach. This hybrid-costing model has a hierarchical structure in terms of consolidation and allocates cost and revenues on the lowest hierarchical level possible to ensure that all costs and income are assigned to activities from which they originated.
A significant and innovative feature of this textbook is its detailed insights into the use of costing methodology for practical implications. It will serve to foster the reader’s analytical and critical thinking skills, and it highlights both traditional and the most current practices of costing methodology using real examples drawn from the service industry. Its methodological focus will allow the reader to understand the introduction of relevant costs, their functions and their behavior towards uses and limitations of cost allocations.
Customer satisfaction is a critical factor to the potential success or failure of a business. By implementing the latest marketing strategies, organizations can better withstand the competitive market. Strategic Marketing Management and Tactics in the Service Industry is an essential reference publication that features the latest scholarly research on service strategies for competitive advantage across industries. Covering a broad range of topics and perspectives such as customer satisfaction, healthcare service, and microfinance, this book is ideally designed for students, academics, practitioners, and professionals seeking current research on best practices to build rapport with customers.
In a world dependent on digital technologies, business corporations continually try to stay ahead of their competitors by adopting the most updated technology into their business processes. Many companies are adopting digital transformation models, data analytics, big data, data empowerment, and data sharing as key strategies and as service disruptors for information delivery and record management. Higher education institutions have adopted digital service innovation as a core to driving their business processes. Such services are key to ensuring efficiency and improving organizational performance. Digital Transformation and Innovative Services for Business and Learning is a collection of innovative research on the latest digital services and their role in supporting the digital transformation of businesses and education. While highlighting topics including brand equality, digital banking, and generational workforce, this book is ideally designed for managers, executives, IT consultants, industry professionals, academicians, researchers, and students.
This book provides a new and definitive overview of customer experience and how it can be managed and enhanced in one of the most dynamic industries in the world—the service industry. Its highly qualified international team of contributors ensures that it adopts a global perspective, and clearly outlines the key theoretical perspectives of customer experience, covering customer experience both from demand and supplier perspectives. Fully informed by the latest research, it explores different country contexts and how they impact upon the customer experience; investigates the social, cultural and economic dimensions of customer experience; provides case studies from a wide range of service industry sectors; and includes industry perspectives and examples.
Digital Asset Valuation and Cyber Risk Measurement: Principles of Cybernomics is a book about the future of risk and the future of value. It examines the indispensable role of economic modeling in the future of digitization, thus providing industry professionals with the tools they need to optimize the management of financial risks associated with this megatrend. The book addresses three problem areas: the valuation of digital assets, measurement of risk exposures of digital valuables, and economic modeling for the management of such risks. Employing a pair of novel cyber risk measurement units, bitmort and hekla, the book covers areas of value, risk, control, and return, each of which are viewed from the perspective of entity (e.g., individual, organization, business), portfolio (e.g., industry sector, nation-state), and global ramifications. Establishing adequate, holistic, and statistically robust data points on the entity, portfolio, and global levels for the development of a cybernomics databank is essential for the resilience of our shared digital future. This book also argues existing economic value theories no longer apply to the digital era due to the unique characteristics of digital assets. It introduces six laws of digital theory of value, with the aim to adapt economic value theories to the digital and machine era. - Comprehensive literature review on existing digital asset valuation models, cyber risk management methods, security control frameworks, and economics of information security - Discusses the implication of classical economic theories under the context of digitization, as well as the impact of rapid digitization on the future of value - Analyzes the fundamental attributes and measurable characteristics of digital assets as economic goods - Discusses the scope and measurement of digital economy - Highlights cutting-edge risk measurement practices regarding cybersecurity risk management - Introduces novel concepts, models, and theories, including opportunity value, Digital Valuation Model, six laws of digital theory of value, Cyber Risk Quadrant, and most importantly, cyber risk measures hekla and bitmort - Introduces cybernomics, that is, the integration of cyber risk management and economics to study the requirements of a databank in order to improve risk analytics solutions for (1) the valuation of digital assets, (2) the measurement of risk exposure of digital assets, and (3) the capital optimization for managing residual cyber risK - Provides a case study on cyber insurance
This text seeks to raise the curtain on competitive pricing strategies and asserts that businesses often miss their best opportunity for providing consumers with what they want - an experience. It presents a strategy for companies to script and stage the experiences provided by their products.
In this penetrating study of how knowledge-based services and technology are revolutionizing the economy and every corporate strategy, James Brian Quinn argues that the successful companies of the 90's -- whether in manufacturing or services -- will derive their competitive edge not from ephemerally superior products but from a deep understanding of a few highly developed knowledge and service based "core competencies." Rarely will owning the largest raw materials resource, manufacturing plants, equipment bases, or integrated facilities provide a maintainable competitive edge for major companies. Such physical properties are too easily cloned or bypassed. From now on, Quinn documents, intelligent enterprises will derive sustainable advantage from knowledge and service based activities that leverage intellectual assets. They will increase value through technological sophistication, better knowledge bases, more creative customer responsiveness, and the unsurpassed management of human and intellectual capital that competitors cannot reproduce. Quinn analyzes the technological and economic forces that make such strategies essential. He shows in detail how to create and leverage knowledge and service based core competencies for maximum focus and effectiveness. Managers, Quinn asserts, must define each value-creating activity as a knowledge based service and determine whether or not they can perform that service -- be it research, design, inventory control, accounting, distribution, or advertising -- better than anyone else in the world. Using examples from companies such as Merck, Honda, Apple, Boeing, and Wal-Mart, Quinn describes how forward-looking companies can best perform needed analyses and implement strategies around selected core competencies. By eliminating or "outsourcing" less important functions to superior outside vendors, firms become more responsive, decentralized, and lean. They become the "intelligent enterprises" of the 1990s, leveraging human and capital resources much more than other firms. They may also take on radically new organizational forms, become "starburst," "inverted," "infinitely flat," or "spiders' web" configurations. By designing and benchmarking their knowledge and service based activities to be "best in world," managers can obliterate overhead costs, smash bureaucracies, motivate personnel, and create greater value for customers and shareholders alike.
