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The first is made up of companies in the business of making money, such as those in the financial industry. The second comprises the nonprofit segment, which includes services such as state education. The tertiary industry sector, which makes up the vast majority of employment opportunities, is solely focused on providing services, not goods, to consumers and other organizations.
Hence, it is also known as the service sector. This is in contrast to the primary industry, which produces raw materials, and the secondary industry, which takes raw materials and uses them to produce salable consumer goods.
The term can be used to describe a single service-oriented organization or the industry segment as a whole. Examples of Tertiary Industry Organizations The tertiary industry provides services, as well as operational frameworks for business operations.
This can include organizations involved in the shipping and transportation industry, such as railroad or trucking, when their sole focus is the process of moving goods.
It could also include the transportation of people, such as taxi services, city bus systems and subways. Traditional hospitality industries, such as hotels and resorts, are a part of the tertiary industry, as well as food service providers, such as restaurants.
All services received from financial institutions, such as banks and investment brokersare tertiary in nature. Personal services, including everything from hair cutting to tattooing, can be included along with services to animals, such as pet groomers, animal breeders and stray animal care facilities.
Hospitals, clinics, veterinarian and other medical service facilities may also qualify. Pricing Challenges in the Tertiary Industry Selling services can often be challenging compared to selling a specific product. But being intangible, it can be difficult to put a value on a specific service. For example, when two different brokers provide seemingly identical services, how can a consumer choose between them?
Transition From Tertiary to Quaternary Certain technological services were previously considered tertiary, though some have determined it is appropriate to have them categorized into a new segment due to industry growth. These technological services include telecommunications providers, cable companies and internet providers.
Even though these are all service-oriented, like the tertiary sector, the services have been separated and classified into the quaternary industry sector.Scribd is the world's largest social reading and publishing site. • explain why corporate social responsibility is a key concern in operations management • describe the features of operations management for businesses in a tertiary industry • assess the relationship between operations and the other key business functions in two.
The tertiary industry is the segment of the economy that provides services to its consumers, including a wide range of businesses such as financial institutions, schools and restaurants.
Describe the features of operations management for businesses in a tertiary industry 3 marks Tertiary businesses’ prime function is related to providing a service, requiring a lot of The operations management is also easy to modify and customise the.
ROLE of Operations Management SYLLABUS DOT-‐POINT Describe the features of operations management for a business in a tertiary industry BUSINESS NAME Woolworths (All of Operations) Woolworths (Tech Fail) Qantas Assess the relationship between operations and other key business functions in two actual businesses .
H5 Management strategies and their impact on businesses with regards to: the features of operations management for businesses in a tertiary industry.
H6 The effectiveness of management in the performance of businesses with regards to: how operations strategy can help a business sustain its competitive leslutinsduphoenix.com Date: Jan 24,