Service Innovation

The world is becoming shaped by services. All the world's most advanced economies are dominated by services, with many having more than 70% of their gross domestic product (GDP) generated by services. Furthermore, average consumers spend around 60% of their share of wallet on service related products. The service sector also employs the largest number of people and it is the fastest growing sector, both in number of companies and employees. The question we pose in this book is how exactly is it growing; what are these new service innovations, what are the drivers of service innovation, and how can firms work with service innovations in a structured way? The book defines service as the value creating activity that customers perform in their own context. Based on this view we develop a model of what service innovation is. The conclusion is that service innovation is multifaceted concept and what it is depends on purpose of the innovation. These purposes could be to; differentiate, finance, help, experience, and streamline. In turn these result in; brand innovation, business model innovation, social innovation, experience innovation, and process innovation respectively. In the book we develop guidelines as to what is required from the firms perspective, how should a firm view their customers in order to be successful, what does a development process look like, what approach should a firm take and how do you transform an organization that has a product focus to a service or solution provider.

• | Author: Anders Gustafsson|Gary R. Schirr|Per Kristensson
• | Publisher: Business Expert Press
• | Publication Date: Apr 15, 2016
• | Number of Pages: 186 pages
• | Language: English
• | Binding: Hardcover/Business & Economics
• | ISBN-10: 163742373X
• | ISBN-13: 9781637423738