You may be surprised to learn that the service economy is around 80% of the economy in "developed" lands (already 79% in UK). And it is an economic segment that is increasing everywhere.
I explore why we shift towards service dominant economies and the impact of that shift.
Not least if that you need to think of innovation differently for the service world than you do at present
Is our current way of thinking about the world - a so called goods-dominant logic that is goods-centric and has a heavy focus on value-exchange - the best mindset for services?
In this first of two articles we look at what is this goods-dominant mindset. We conclude that yes we could use it for services, but it limits us. It is like driving a performance sports car, but only ever using 1st gear.
Once we look more at services we realise a new logic is needed to access the other gears. But that this is a realisation not a revolution.
In our increasingly service based economies it is important to understand what services are.
We gain this understanding by looking at services through academic definitions, marketing, and economic attributes, a continuum between gods and services and finally the logic behind services.