Services

Services are the activities, expertise and value-added offerings a company provides to its customers. They can be full of intangible assets. It’s about providing anything from getting a haircut at a salon to having your computer fixed by a tech expert. Businesses offer services to meet people’s needs, solve problems or make life more convenient. Services can set a business apart. For instance, a company known for its excellent customer service might attract more revenue because people appreciate friendly assistance. Repeat business, referrals and positive word-of-mouth can contribute to a service company’s success. Understanding how services can be an intangible asset helps CEOs see the importance of customer experience.