1. Identify some reasons for the shift in workforce composition from extraction to manufacturing to services. 2. Identify reasons for increased productivity. 3. What are some characteristics of service?

Understanding Business
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ISBN:9781259929434
Author:William Nickels
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Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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1. Identify some reasons for the shift in workforce composition from extraction to
manufacturing to services.
2. Identify reasons for increased productivity.
3. What are some characteristics of service?  

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Introduction

The workforce composition has evolved from extraction to manufacturing and then to services. This change has been brought about by various factors, including technological advancements, globalization, and changing consumer preferences. With increased productivity, businesses have been able to deliver more output per unit of input, resulting in improved efficiency and profitability. The characteristics of service differ from those of manufacturing and extraction, with services being intangible, perishable, heterogeneous, inseparable, and requiring customer contact.

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