We are living in a service based economy. I think we all should know how to manage a service. According to some surveys back in 2009 more than 80% of the global economy is contributed by Services.
The Products today have a higher service component than in previous decades. In the management literature this is referred to as the servitization of products. Virtually every product today has a service component to it. It is important to understand the service and to know how to manage it.
A great product with poor service may fumble, but a good product with great service will stay.
Many product companies such as IBM, HP and Microsoft have reinvented themselves and regained their leadership status after moving into service culture and mindset. These companies quickly realized the significance of service in selling their products.
Every working professional should have the skill and competence in Service Management.