![\"Service](\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2018\/09\/Service-innovation1-300x200.jpg\")
\u00a0Incumbents are receiving persistent demands from the market to innovate or be left behind.<\/p>\nNew digital upstarts are threatening the bottom lines. Even growth prospects and traditional business models are now being threatened.\u00a0Incumbents are receiving persistent demands from the market to innovate or be left behind.<\/p>\n
The service landscape<\/a> is changing. Companies are now being caught in the midst of a changing service landscape that requires innovative shifts in approaches and systems. Being unprepared can be detrimental to the company\u2019s business continuity. Companies must strive to keep afloat. This can be done when companies learn to retool themselves can they remain competitive during the new industrial era.<\/p>\n We are at the beginning of a revolution that is fundamentally changing the way we live, work, and relate to one another. Coined by the Word Economic Forum (WEF) in 2016, the Fourth Industrial Revolution (4IR)<\/a> is the fourth major industrial era since the initial Industrial Revolution of the 18th century.<\/p>\n The Fourth Industrial Revolution (4IR) is fundamentally different.<\/p>\n The resulting shifts and disruptions mean that we live in a time of great promise and great peril. But control is still within us. We just need to collaborate across geographies, sectors, and disciplines to grasp the opportunities 4IR and Service 4.0<\/a> presents. New demands are impressed on companies with the advent of the new service landscape<\/p>\n Service businesses are now under threat. There is a new wave of digital upstarts that capitalize on changes in technology, customer behavior, and data. Available data is now creating innovative, customer-friendly alternatives to the services companies offer.<\/p>\n Four evolving trends has revolutionized the New Service Landscape<\/a>.<\/p>\n The evolving trends have shifted dramatically the nature of service and the pace of change that is evolving. Today, mastering the traditional aspects of service delivery will no longer be enough. Companies must continue to keep watch of evolving trends to remain upfront in terms of competition. There is now the urgent call for breakthrough actions. Companies must need to redefine service offerings, harness digital technology and improve customer experience<\/a>.<\/p>\n The Service Industry has evolved from Service 1.0 to Service 4.0<\/a> today.<\/p>\n The benefits of mastering the shifts in Service Innovation is significant. Companies must realize that services account for \u00be of global growth. Those that can evolve quickly are in a better position to capture this growth. However, traditional companies may face certain dilemma. Unable to meet the new service landscape can result into traditional companies facing growing pressures from digital attackers.<\/p>\n There are 3 Critical Imperatives that can prepare our company against shifts in Service Innovation<\/a>. Pursuing these imperatives will prepare our company against any challenges we that we meet during the 4th Industrial Revolution and allow us to\u00a0undertake our own Service Transformation<\/a>.<\/p>\n 1. Institutionalize Service Innovation<\/strong><\/p>\n Institutionalizing Service Innovation<\/a> can build corporate\u2019s capability to come up with creative solutions. Services, like products, also have a shelf life. Customer demand evolves, service expectations change, and technological advances constantly bring new possibilities. It is therefore important for service to be periodically examined and refreshed.<\/p>\n 2. Personalize the Customer Experience (CX)<\/strong><\/p>\n Traditional companies focus on customer segments to understand customer needs better. However, personalizing customer experience can direct companies to achieve market leadership. With massive new datasets and mobile device, services can now be personalized cost effectively to a much higher degree. Partnership with retailers can be forged to create personalized, real time discounts for products and services through a mobile app. Companies can collaborate with social media players undertaken to draw on the preferences of participating customers.<\/p>\n 3. Simplify Service Delivery<\/strong><\/p>\n Simplifying service delivery is the call of the 21st century customer. Digital attackers now tend to thrive on simplicity. With new technology combined with process improvement, it makes services straightforward and more pleasing. Simplifying service delivery systems enhance operational productivity and enrich customer experience.<\/p>\n Service 4.0<\/a> is revolutionizing service to meet changing consumers demand. Being unable to evolve with the new service landscape can spell a big difference between business continuity or closure.<\/p>\n Interested in gaining more understanding on how to achieve an effective Service Innovation<\/b><\/a>? You can learn more and download an\u00a0editable PowerPoint about\u00a0Service 4.0: Service Innovation<\/strong>\u00a0here<\/a>\u00a0on the Flevy documents marketplace.<\/p>\n You can download in-depth presentations on this and hundreds of similar business frameworks from the FlevyPro Library<\/a>. FlevyPro<\/a> is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:<\/p>\n “My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today\u2019s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”<\/p>\n \u2013 Bill Branson, Founder at Strategic Business Architects<\/p>\n<\/blockquote>\n “As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.”<\/p>\n \u2013 David Coloma, Consulting Area Manager at Cynertia Consulting<\/p>\n<\/blockquote>\n “As a small business owner, the resource material available from FlevyPro has proven to be invaluable. The ability to search for material on demand based our project events and client requirements was great for me and proved very beneficial to my clients. Importantly, being able to easily edit and tailor the material for specific purposes helped us to make presentations, knowledge sharing, and toolkit development, which formed part of the overall program collateral. While FlevyPro contains resource material that any consultancy, project or delivery firm must have, it is an essential part of a small firm or independent consultant’s toolbox.”<\/p>\n \u2013 Michael Duff, Managing Director at Change Strategy (UK)<\/p>\n<\/blockquote>\n “FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight \u2013 it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”<\/p>\n \u2013 Roderick Cameron, Founding Partner at SGFE Ltd<\/p>\n<\/blockquote>\n “Several times a month, I browse FlevyPro for presentations relevant to the job challenge I have (I am a consultant). When the subject requires it, I explore further and buy from the Flevy Marketplace. On all occasions, I read them, analyze them. I take the most relevant and applicable ideas for my work; and, of course, all this translates to my and my clients’ benefits.”<\/p>\n \u2013 Omar Hern\u00e1n Montes Parra, CEO at Quantum SFE<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":" New digital upstarts are threatening the bottom lines. Even growth prospects and traditional business models are now being threatened.\u00a0Incumbents are receiving persistent demands from the market to innovate or be left behind. The service landscape is changing. Companies are now being caught in the midst of a changing service landscape that requires innovative shifts in… Service 4.0: The 21st Century Business Toolkit to Innovation<\/span><\/a><\/p>\n","protected":false},"author":111,"featured_media":3884,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[81],"tags":[1292,1291,1288,1290,1289],"class_list":["post-3875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategy","tag-3-critical-imperatives","tag-fourth-industrial-revolution-4ir","tag-new-service-landscape","tag-service-4-0","tag-service-landscape"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/3875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/111"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=3875"}],"version-history":[{"count":12,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/3875\/revisions"}],"predecessor-version":[{"id":8263,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/3875\/revisions\/8263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/3884"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=3875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=3875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=3875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}The Fourth Industrial Revolution: The 4IR<\/strong><\/h2>\n
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Getting Ready for the New Service Landscape<\/strong><\/h2>\n
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Moving from Service 1.0 to Service 4.0<\/strong><\/h2>\n
![\"slide1](\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2018\/09\/slide1-Service-Innovaton.jpg\")
<\/a><\/p>\nThe 3 Critical Imperatives in Service Innovation<\/strong><\/h2>\n
![\"Slide](\"https:\/\/flevy.com\/blog\/wp-content\/uploads\/2018\/09\/Slide-2-Service-Innovation.jpg\")
<\/a><\/p>\nDo You Find Value in This Framework?<\/h2>\n