Design
The design of virtual environments and physical things. In theory, the design of things could produce more value than their manufacturing.Marketing
Marketing services in areas such as branding, promotion and distribution.Ecommerce
Services that produce value electronically such as a payment service or online retailer.Software & Computing
Software and computing that are offered as a service. This is a large industry with a high growth rate.Media & Information
Media and information are increasing shifting towards services such as a streaming media service or ebook service that allows you to check out several books at a time for a monthly fee.Entertainment
Entertainment such as a film or video game.Restaurants
Restaurants offer meals as a service.Night Economy
Things to do at night such as a bar or opera.Culture
Cultural experiences such as a streaming music service or art museum.Club Goods
Providing access to assets for a fee. For example, a theme park or gym.Product as a Service
Wrapping products in intangible elements such as support, maintenance and operations.Transport
Transport such as a high speed train.Public Services
Public services in areas such as education, healthcare, wellness, community programs and public space.Non-Profits
Organizations set up to do good, as they see it, as opposed to making a profit. Non-profits usually produce services such as feeding the poor.Business Services
Business services such as consulting and process outsourcing.Professional Services
Offering your labor as a service.Consumer to Consumer
Services provided by consumers for consumers without much involvement by a business. For example, a babysitter.Financial Services
Financial services such as borrowing, investing and foreign currency.Insurance
A service that accepts risk for a fee.Manufacturing as a Service
Manufacturing itself is often provided as a business or consumer service. Automation potentially allows unique items to be manufactured on demand by providing a design.Energy
Energy production and distribution is increasing viewed as a service such as an electrical utility as opposed to a product such as gasoline.Construction & Maintenance
Services that construct things or maintain them.Operations
Services that operate things. For example, a facility management service that operates data centers on behalf of corporate clients.Notes
It is possible that some developing countries will become developed countries without developing a large industrial base. In other words, a nation may progress directly from being an agrarian economy to a service economy. Manufacturing in one form or another will remain an important industry just as agriculture remained an important industry throughout the industrial period. It may become highly automated with few jobs.The knowledge economy is highly related to the service economy. Service jobs tend to require more knowledge and they often produce knowledge. For example, most designers, doctors and software developers work in the service sector.| Overview: Service Economy | ||
Type | ||
Definition | A nation that generates more value from services than other sectors such as agriculture and manufacturing. | |
Related Concepts | ||
