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Service Sector Boom: Why Organizations Buy Services

The original posting:

The service sector is one of the few growth segments in the US economy today.
Describe why organizations are buying more professional services, and what opportunity it provides for project managers.

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As the United States economy begins a slow, economic turnaround, there was a valuable lesson learned by many organizations at the height of the recession: professional services can actually save money. To try and remain "afloat" during trying economic times, many organizations engaged in mass layoffs, often eliminating even vital positions such as information technology (IT) support or payroll. However, even though the loss of many employees does result in a cost savings, often the job duties managed by the former employees still need to be performed. Professional services are on the rise due to the practice of outsourcing, which "allows a business to concentrate on the activities that are critical to its success" (Linton, n.d., 2). Instead of paying ...

Solution Summary

This solution is over 400 words and includes a reference, thoroughly addressing why the service sector is one of the growth segments in the U.S. economy today.