Service Sector

The service sector according to the official information comprises trade, financing, insurance, real estate and business organization services, community, social and personal services, transport, storage and communication, and hotels and restaurants.

From: Asia in the Global ICT Innovation Network , 2013

Western European Studies: Geography

R. Hudson , in International Encyclopedia of the Social & Behavioral Sciences, 2001

4 Structural Economical Change, Service Sector Growth, and Feminization of Labor Markets

Service sector growth every bit part of a irresolute social segmentation of labor has been the near significant structural change in the European economy and led to claims well-nigh the emergence of postindustrial and postFordist economies. There have also been important changes within the service sector. Initially, service sector expansion was closely linked with growing state involvement over much of Europe. More recently, the dominant pattern has been shrinkage of the public sector and expansion of private sector services. The about meaning feature of the latter has been growth of individual sector business organisation and financial services, often linked to financial product innovations and deregulation of fiscal markets (Tickell 1999).

The increasing importance of the service sector has likewise been associated with three of import changes in European labor markets. First, further 'feminization' of the labor marketplace has led to some growth of well-paid, full-time secure professional person employment for women but more than generally growth has been in less desirable jobs. 2nd, women course a disproportionately large part of the 'flexible workforce,' produced by the growth of new forms of employment contract and part-time and casual work (Perrons 1998). Third, service sector growth, especially in business concern and financial services, has led to renewed focus on urban environments as fundamental nodes of economic dynamism (for example, see Keil and Ronnenberger 2000). This has led to increasing interest in the characteristics of urban environments seen as conducive to loftier social club service sector growth and the attraction of dynamic new services and cultural industries inside an emergent 'knowledge economy.' Echoing earlier work on successful regions, this again emphasizes the significance of 'soft' infrastructure and breezy social relationships equally well as the necessary 'hard infrastructure' of transport, telecommunications, and information science networks (for instance, run across Amin and Thrift 2001).

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Industry Specific Q&A

Bonnie Michelman CPP , in Women in the Security Profession, 2017

1 Brief Summary/Introduction of the Specialty Field or Sector.

The Healthcare Services sector comprises protection of assets for healthcare organizations to include hospitals, medical schools, nursing facilities, assisted care facilities, rehabilitation, and psychiatric facilities. This manufacture sector has loftier violence and many unique vulnerabilities due to an open surroundings and many different patient populations, a tension and pain filled surround, and vulnerable populations (i.e., babies, Alzheimer's patients, psychiatric patients, and gang members) and processes (i.east., protection of patient health information, surgery, research labs, abortions, etc.) The challenge in healthcare is to protect the various tangible and intangible assets while keeping an open up, welcoming atmosphere for all. Hospitals can as well be targets for cybercrime, terrorism, activist activeness, and fraud.

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Handbook of Computable General Equilibrium Modeling Set up, Vols. 1A and 1B

David 1000. Tarr , in Handbook of Computable General Equilibrium Modeling, 2013

Will WTO accretion reduce the barriers to FDI in business services?

The business concern services sectors have been the subject of some of the most intense negotiations associated with Russian accession. Russian federation has fabricated numerous commitments in this area. Some of the central concessions are the following. Russia has agreed to increase the quota on the maximum share that foreign banks and insurance companies tin attain from 15 to 50%, and Russia will phase out the prohibition on foreign participation in mandatory insurance lines. Russia agreed to finish the Rostelekom monopoly on long-distance fixed-line telephone services equally part of the Russia–European union bilateral agreement. There are multinational telephone operators already operating in the Russian mobile telephone market, merely the maximum equity restriction of 49% volition exist lifted. Russian federation volition ensure national handling and marketplace access for a wide variety of professions, including lawyers, accountants, architects, engineers, marketing specialists and healthcare professionals. Strange-owned companies will be permitted to engage in wholesale and retail merchandise, franchise sectors and express courier services. nineteen The EU has negotiated intensely for the rights of companies other than Gazprom to construct a gas pipeline, but did non reach success in this area.

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Service Economy, Geography of

Brita Hermelin , Grete Rusten , in International Encyclopedia of the Social & Behavioral Sciences (Second Edition), 2015

The Role of the Service Manufacture in the Economic system

Increasing enquiry on the service sector signals the increasing importance of such economical activities. One direct (and readily observed) touch is the authorisation of the service sector in the job market. If we examine Western industrial economies and the structure of the chore market, we can come across that the United States was a precursor in restructuring to a service economy. Since the mid-1960s, service jobs have come to dominate, gradually transforming Western countries into service economies ( Daniels, 1985). This shift includes both commercial and public sectors.

Figure 1 illustrates the proportion of jobs in the service sector for a selection of Organization for Economic Cooperation and Development (OECD) countries. It includes the countries with the highest (80% or more) and lowest percentage of workers in the service sector. Those countries with the highest pct of service jobs include smaller economies such as Luxembourg and kingdom of the netherlands, besides as large economies such every bit the U.s. and the Great britain. OECD countries with the smallest percentage of jobs in the service sector include former Eastern Bloc countries and Turkey. On an boilerplate, 72% of the jobs in OECD countries are service jobs.

Figure i. Percent of workforce employed in services in a selection of OECD countries in 2011.

 Source: OECD Statistics OECD StatExtracts/Curt-Term Labour Market Statistics. http://stats.oecd.org/Index.aspx?DataSetCode=STLABOUR.

Most research on services has been based in the empirical context of the older industrialized economies. As services take more recently expanded in Asia, so has enquiry interest shifted in empirical focus (e.g., Daniels et al., 2005; Park, 2006; Ström, 2005, 2006).

There are doubts about the benefits of such expansion of increasingly service-oriented economies. Showtime, there are arguments apropos limited productivity growth in service-dominated economies. If services are coproduced in face-to-face interactions, it is difficult for productivity to grow and somewhen the growth getting difficult to measure. Notwithstanding, the organizational forms for the production and distribution of services vary immensely and there are service activities with strong, measurable productivity growth. Such services include standardized operations that have been able to replace staff with computers in recent years (banks, retail, travel and transportation, etc.) (Bryson et al., 2004: pp. twenty–21).

Other doubts almost the benefits of service-based economies middle on the tradability constraints with express value every bit an consign industry. The concern is that the irresolute balance between manufacturing and services (with the service sector predominating) threatens the overall export volume of national economies. However, this line of reasoning is empirically untrue. Over time, service companies accept developed into major transnational corporations doing international business. Over one-half of the companies on the Forbes Global 2000 listing (the globe's largest public companies) are in the service industry segment. Banking and other financial services companies dominate the list, with more than 500 companies. Other service industries with more than fifty major international companies on the listing are retail, transportation, construction, telecommunications, media and business services. Other categories of companies cut across the service–manufacturing carve up, such as health care equipment and services, with more than than fifty major global companies on the list.

Although tradability in the service industry has increased substantially, this increase does not fully represent to the growing role this sector plays in the economy in terms of its share of GDP or employment. In OECD countries in 2008, exports of services were 23% of all exports (OECD/Eurostat, 2011).

Many different and mutually reinforcing factors are behind the internationalization of services (Daniels, 1993). These factors include the political liberalization and disappearance of national barriers to different types of international exchange (financial capital, straight investments, commodities, labor, etc.), standardization, the development of ICTs to facilitate communication and monitor spatially dispersed organizations, networks and relationships between suppliers and clients. The extent to which services are ICT-mediated and ICT-coded in a digital class further enhances their suitability for international markets (Bryson, 2007). This development leads to a discussion virtually the international partition of labor for service tasks and almost organizational forms that include offshoring or global sourcing.

Every bit the discussion higher up indicates, the service industry contributes to the job market, to export incomes, and to the economy as a whole. In addition, more qualitative discussions cite the importance of the service industry (via the effects of its output) for regional development. For instance, service providers can increase the productivity and improve the competence of their clients' firms, likewise as facilitate specialization of production networks. Firms in various sectors tin also utilize services equally a tool to differentiate their offerings from those of competitors (Kujala et al., 2013).

From a production network perspective, the growth of service jobs or service firms is partly an illusion in that, rather than existence produced in-house, services are provided past external suppliers. This raises the issue of outsourcing, through which firms "switch from internal sourcing of inputs to external independently endemic providers" (Bryson, 2007: p. 31) Even so, increased externalization of services is not simply a affair of reorganization. Increased demand also relates to the recent need for different types of services. Increasing complexity, technological developments, competition, expectations, and spending ability in a globalized economy are all processes that explain this development. This applies to ICT services, didactics services and management, amongst other specialized and more routinized services.

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Handbook of Computable General Equilibrium Modeling Prepare, Vols. 1A and 1B

Elisabeth Christen , ... Bernard Hoekman , in Handbook of Computable General Equilibrium Modeling, 2013

25.ix Conclusions

Given the say-so of the service sector in almost economies, it is clearly advisable that CGE modeling of market access has begun to motility away from an exclusive focus on goods trade. However, this is a relatively recent evolution, and at that place is a need for more investment in theory and data before incorporation of services merchandise and investment can move beyond being rather rough. The credence that should be placed in the numbers generated by CGE assessments of market access in services depends very much on the validity of the modeling assumptions made and the data that are used. While the accurateness of the specific numbers generated is certainly open to question, the decision that services liberalization can generate much larger welfare effects than goods liberalization is probably robust. 38 Yet conspicuously, to be more informative, CGE analyses need to exist able to draw on empirical enquiry that estimates the effects of policies on markups and costs.

This need includes investing effort in better representation of the function that services play in distribution, communications and investment in modern economies, their office as intermediate inputs and a determinant of aggregate productivity of the economy (through downstream equally well equally directly productivity impacts), and the interaction between marketplace construction, trade, FDI in services and industry performance in goods. While the available econometric results are rough and imprecise, they suggest that service-related trade policy reforms that were implemented by nigh countries on a unilateral footing during contempo decades may have been an of import forcefulness for productivity growth. Evidence is likewise growing that the cost effects of protection (trade costs) in the service sectors may be quite big compared to remaining import protection of goods sectors. Ignoring policies affecting trade and investment in services, and more generally regulatory policies that determine the performance of domestic services sectors, may be an of import reason why CGE studies assessing the furnishings of trade reforms may miss the mark.

Notwithstanding the caveats regarding data quality and the limited specificity (accuracy) of the characterization of services trade policies and their effects on the different modes of supply, a basic bulletin that emerges from the current literature is that liberalization of services matters, maybe much more than trade in goods. However, much depends on how well the characteristics and economical functions of unlike services are captured, the accuracy of estimated or causeless impacts on costs and prices of services, whether policies create rents or simply enhance costs, if at that place are rents, what share accrues to strange factors, and whether policy reforms are practical on a discriminatory basis or non. These are all areas where hereafter inquiry should focus and is likely to take a loftier payoff.

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Transportation Safe and Security

Jane A. Bullock , ... Damon P. Coppola , in Homeland Security (Second Edition), 2018

Postal and Aircraft Services

In 2013, the Postal and Aircraft Services sector was moved into the transportation sector as a result of Presidential Policy Directive 21 (likewise known as Disquisitional Infrastructure Security and Resilience), which was issued on Feb 13 of that year. This sector differs from cargo and freight in that its focus is what we recollect of as "apartment" mail service—letters, envelopes, magazines, and small packages. This sector is responsible for moving approximately 575 one thousand thousand pieces of post that fit this description on a daily ground. The postal and shipping stakeholders serve over 150 one thousand thousand distinct addresses in fulfilling this mission.

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Services in China: Prospects for Growth and Implications for Commonwealth of australia

John Hicks , ... Parikshit K. Basu , in WTO Accession and Socio-Economical Development in China, 2009

4 CHINA'S SERVICE SECTOR PERFORMANCE

The poor state of Communist china'due south services sector is largely policy induced. The commencement of Communist china'due south economical reforms saw production in agronomics (1980s) then manufacturing (1990s) pushed in an effort to modernize 5 . The growth of the service sector was, until relatively recently, largely ignored or, indeed, actively discouraged through restrictions and revenue enhancement penalties and through the application of administrative rules associated with 'the Program'. The latter, in particular, inhibited Chinese businesses from entering into service industries because of the difficulty (or impossibility) of obtaining the appropriate licenses ( Yueqin 2005). Yueqin (2005) notes that the first step the Authorities took to encourage service industries was to begin to dismantle the circuitous legal system put in identify to control entry into service areas. However, this did non embark until 2001 - by which time the service sector was a long mode backside than where it should have been.

Thus the consequence in China was largely ideological. Australia'southward Department of Strange Affairs and Trade claimed China's primal planners regarded services equally just performing a redistributive role and therefore unproductive (DFAT 2005). DFAT also points out that the evolution of services presupposes a sure level of urbanization (which tends to human activity as a need driver for services) and despite some enormous cities, Cathay has remained a relatively non-urbanized lodge – nevertheless the rapid rising in per capita income levels experienced in recent years.

The development of services was targeted by the Tenth Five-Twelvemonth Plan 2001-2005. In January 2002, the Land Council promulgated a number of proposals in a document 'Some suggestions on accelerating the growth of the service industry during the period of the Tenth 5-Year Plan' which included a primal proposal to "actively and steadily promote the process of urbanization…" Other proposals included the active promotion of the evolution of new services via instruments such as more liberal employment policies (DFAT 2005, pp.17 and 18); enhancing admission to non-state sector firms in service industries (pp.eighteen), "breaking-upward the country monopoly in the service sector" (pp.18) and, importantly, the removal of barriers to foreign direct investment in services (pp.19) which would both promote competition and better efficiency (pp.11).

From the point of view of our current interest, the last proposal is important. Yeuqin (2005) notes that for many years the Chinese themselves could non constitute individual businesses in the service sector. In addition, substantial barriers were placed in the way of the foreign provision of services. When foreign investment was first permitted in China, information technology was restricted to manufacturing, and so, initially, only in the form of joint ventures which had to produce appurtenances for re-consign 6 . The impositions of joint Chinese/foreign ownership and export orientation were relaxed during the 1980s but many of the prohibitions on FDI entering the service sector were retained (Yeuqin 2005). Gradually, through the early on part of the 21st century, these restrictions on services started to be relaxed – nigh noticeably in the banking industry. Nevertheless, the commentary provided by Yeuqin (pp. xx – 21) suggests that fifty-fifty at present, the Authorities maintains an effective monopoly over finance, telecommunications, railways, transportation, instruction and health care with the usual monopoly result of high price and inadequate service prevailing.

A major footstep forwards for the development of services in China has been People's republic of china's accretion commitments on the GATS seven   when it acceded to full membership of the WTO in 2001 (DFAT 2005). With very few exceptions related to air traffic rights and services provided under government dominance, GATS covers all aspects of trade in services by members. The purpose of GATS is to "contribute to trade expansion 'under conditions of transparency and progressive liberalization and equally a ways of promoting economical growth of all trading partners and the evolution of developing countries" (WTO 2006, pp.ii). It is considered that its ability to do this rests on ii master pillars: (a) the transparency and predictability of the rules applied to trade by member countries, and (b) the ability to accomplish enhanced trade liberalization through continuing negotiations. The old requires members to clearly notify other members of the rules and regulations pertaining to service provision in their canton. Further, the rules must be consequent with the about-favoured-nation (MFN) principle in which the all-time access atmospheric condition conceded to one nation volition employ to all other participants The second is considered "tantamount to improving market access and extending national treatment to strange services and service suppliers across an increasing range of sectors". (WTO 2006, pp.3)

GATS is described as a flexible agreement. Members must sign a schedule of commitments. However the schedule of commitments permits members to identify the market place sectors to which access volition be granted and the conditions under which it will be granted – which permits members to suit the weather condition of market entry. Under Article XVI, which addresses market access, members may not limit (a) the number of suppliers, (b) the value of service transactions or assets, (c) the number of operations or quantity of output, (d) the number of persons supplying a service, (e) the blazon of legal entity or articulation venture or (f) the participation of foreign capital unless they have recorded such restrictions in the schedule of commitments (WTO 2006, pp.6). Under Commodity XVII, which addresses national treatment, foreign suppliers of a service must be granted handling no less favorable than domestic suppliers unless provision for discriminatory treatment has been made in the member'south schedule of commitments (WTO 2006, pp.5-6).

Co-ordinate to Mattoo (2002), China's proposed liberalization is impressive. For case, the proportion of market place access commitments given (relative to the full possible number of commitments) is substantially higher than it has been for most new entrants (including high income countries) and the proportion of commitments for which there would be no restrictions imposed (relative to total possible commitments) was just merely lower than for high income country entrants and much higher than low/middle income countries and other developing countries. Similarly, with respect to national treatment, China's commitments appeared superior on nearly all measures with 36.five per cent of all possible commitments existence acceded to with no restrictions imposed (Mattoo 2002, pp.5). In summarizing China's commitments, Mattoo (2002, pp.10) states that "Cathay has promised to give up … the liberty to restrict new entry and strange ownership, [discrimination] between trading partners and in favor of its own firms, and, nigh generally, the liberty to change its mind."

However, the commitments are only as good as their keeping. The United states of america-based Coalition of Services Industries (CSI) remains especially skeptical. They point to erratic implementation peculiarly in relation to market access, national handling, services infrastructure, lack of transparency and lack of intellectual property rights protection (CSI 2007). With respect to transparency, the CSI fence that a full implementation of China's commitments has not taken place. They merits that "Chinese laws, regulations, and administrative practices frequently change without warning, and are frequently not applied uniformly" (CSI 2007, pp.2). They were also concerned nearly the tendency of the rules to provide China's regulators with wide discretionary powers leading, inevitably, to unpredictable outcomes. I way forward, they argued, was for China to give greater emphasis to the GATS requirement for meaningful public comment, especially from private industry, on proposed rule changes (CSI 2007). DFAT (2005) has also noted that, despite progress, implementation is non complete and ostend many of the problems noted in a higher place – especially the opaque regulatory process and the burdensome licensing and operating requirements (DFAT 2005, pp.24). The fiscal services sector, because of its growth potential, is viewed past some US business organisation representatives as in need of significant reform in gild to open markets to foreign competition (U.s.-China Business Council 2007). Morrison's (2008, pp. 23) report to the US Congress emphasized the problem past referring to the 'precarious financial state of the Chinese banking system'. Taken together, such continuing problems restrict the Chinese market for services for exporters.

On the other manus, other commentators point out that in some areas, such as publications distribution, not but has Cathay met its WTO service commitments, but has exceeded them (Walton 2004). However, they concede that this has non occurred in all sectors and that, indeed, in some, such every bit construction, at that place has actually been some slippage. Mattoo (2002) concedes that in many areas the Chinese Regime has been reluctant to liberalize immediately.

DFAT (2005) reported that China's merchandise in services has increased substantially since accession to the WTO. Transport, storage and telecommunications grew at unprecedented levels since 2004 while instruction, health and social services also recorded significant growth. However, "Unlocking the enormous potential of services requires wide ranging and deeper reforms of the legal and enforcement system, the financial arrangement, labour markets and state-owned enterprises. … reform of the regulatory and legal enforcement system is necessary … [and] reform of the hukou arrangement [which restricts labour mobility in China] … volition exist crucial [to maximize] … the employment gains from the expansion of the service industries" (DFAT 2005, pp.x).

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The Story of Service Science

Yvonne de Grandbois , in Service Science and the Information Professional, 2016

The Rise of the Service Sector

Service Science is coming into existence because of the service sector'southward spectacular rising to boss today's economy. The manufacturing of physical products peaked in the U.s. in the mid-1950s and has been decreasing always since. The service sector began to outnumber and outweigh the other sectors in the United States and other parts of the world, and thus became the main and fastest growing phenomenon in most economies ( Figure 2.ane).

Figure 2.1. Services offer significant economical opportunities.

In 2010 the service sector generated more than than 70% of the Gross domestic product in nigh advanced economies, including the United States, Canada, Commonwealth of australia, Japan, 10 countries in the European Union, and Switzerland. Brazil (67%), Russia (59%), India (55%), and China (43%) are not far behind in these figures (International monetary fund, April 2011). The growth of services is expected to continue to rise in all countries.

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The Relationship Is the Brand: Sales Reps and Information for New Service Development in Thai Life Insurance

Ranchana Rajatanavin , Mark Spreece , in The Globalisation of Executives and Economies, 2006

Publisher Summary

This chapter illustrates that competitiveness in virtually Thai service sectors has increased tremendously, partly because of rising demand for new services that can provide customers with more than option. Service firms must detect ways to build competitive advantages. We examine how companies in the B2C life insurance manufacture use the sales force to build customer relationships and how customer data caused in these relationships is integrated into new service development (NSD). The core insurance products themselves are substantially commodities in Thailand, equally the regulatory environment inhibits much innovation. Firms are differentiated past service quality. A case report approach was used with multiple in-depth interviews in each of 5 companies. Such qualitative piece of work can attain skilful reliability and validity with careful data gathering and careful analysis. Triangulation is a key tool in this and was used in the given analysis. It is clear that sales agents are the foundation of make image in this industry. The service delivery process is the chief place to gain brand differentiation in Thailand and brand perceptions come mainly from interaction with the agents. Their close human relationship with customers gives agents unique insight into client needs downwardly to the level of minor service details. The quality of the sales agents is a key source of brand advantage and the agents contribute substantially to NSD effort at the level of the service commitment procedure. Companies that tin can build on this shut relationship to better capture data for NSD will gain an even stronger competitive advantage.

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Fraud

Glynis D Morris BA FCA , ... Andrea Oates BSc , in Finance Director's Handbook (Fifth Edition), 2009

12.26 Money Laundering

Certain businesses, in particular those in the financial services sector, are subject field to stringent legal requirements in respect of the identification and reporting of money laundering, and information technology is essential that such businesses take procedures and controls in place to ensure that they fulfil their duties in this expanse. However, any business could potentially exist an unwitting party to coin laundering, and it is therefore advisable to ensure that direction and staff are aware of the need to question unusual and potentially dubious transactions and know whom to inform in such circumstances. New regulations on money laundering have been introduced under the Proceeds of Crime Act 2002 in an attempt to make criminal action less profitable. The definition of coin laundering nether the new legislation is much broader and encompasses acquiring, possessing, dealing with or concealing the gain of any activity that constitutes a crime in the United kingdom. Sure professionals, including accountants and solicitors, take a duty to report any knowledge or suspicions of money laundering by their clients to the Serious Organised Law-breaking Bureau (SOCA). Certain rules also apply to any business organisation that deals in appurtenances and accepts in greenbacks the equivalent of 15,000 euros (approximately £10,000) or more than for any single transaction. Such businesses must register with HM Customs & Excise, and put anti money-laundering systems in place or stop accepting big payments in greenbacks and insist on payment by methods such equally credit carte or bank check.

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