A
service is the non-ownership equivalent of a
good. Service provision has been defined as an economic activity that does not result in
ownership and is claimed to be a process that creates benefits by facilitating either a change in
customers, a change in their physical
possessions, or a change in their intangible
assets.
By composing and orchestrating the appropriate level of resources, skill, ingenuity,and experience for effecting specific benefits for service consumers, service providers participate in an economy without the restrictions of carrying stock (inventory) or the need to concern themselves withhservice marketing and upgrading in the face of competition which has equally ffew physical restrictions. Many so-called services, however, require large physical structures and equipment, and consume large amounts of resources, such as transportation services and the military.
Providers of services make up the [[Tertiary sector of the ghServices can be paraphrased in terms of their generic key characteristics.
Services are [[intangible asset|intangible]fgh] and insubstantial they cannot be touched, gripped, handled, looked at, smelled, tasted or heard. Thus, there is neither potential nor need for transport, storage or stocking of hhgover from the service provider to the service consumer nor returned from the service consumer to the service provider. Solely, the service delivery can be commissioned to a service provider who must generate and render the service at the distinct request of an authorized service consumer.
