(9) Professional Service Firms

(9) Professional Service Firms - Professional Service Firms...

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1 Professional Service Firms Business Policy (MGBU 4441) Prof. Benjamin Cole Shift in US Economy (1980-2001) 17,000 17,500 18,000 18,500 19,000 19,500 20,000 20,500 21,000 1980 1985 1990 1995 2000 Manufacturing 60,000 70,000 80,000 90,000 100,000 110,000 Services Manufacturing Services
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2 Manufacturing vs. Services Manufacturing industries “Processing Materials” Service industries “Processing Knowledge ” (generally) Simultaneity of Production and Consumption (always) Cannot hold inventory on haircuts (that would be a wig, a good) . Intangibility of the Offering (always) Cannot inspect the actual product before buying it. Requires Personal Contact (generally) Haircuts, Consulting Professional Service Firms “An organization that trades mainly on the knowledge of its human capital, i.e., its employees and the producer-owners, to develop and deliver intangible solutions to client problems.” – Morris & Empson (1998)
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3 Governance Forms (Top 100 Global Firms by Industry Sector)
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This note was uploaded on 12/10/2011 for the course MGMT 4000 taught by Professor Peters during the Spring '10 term at Bentley.

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(9) Professional Service Firms - Professional Service Firms...

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