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According to recent analysis conducted by Reports and Data, USA, the global service industry market is expected to grow from USD2.8 billion in 2019 to USD10 billion by 2026. Firms wanting to take part in this growth need to use design thinking and strategy, while considering new business models such as employing cloud-based software for field service management. Many of the world’s fastest-growing businesses have leveraged innovative business models to disrupt their industries and create value for their customers.
To explore this issue, the APO held a virtual Workshop on Enhancing Service Productivity through Effective Business Models, 19–21 October, in partnership with the Singapore Productivity Centre. This event included sessions on service design and innovation frameworks, the business model canvas, innovating customer experience, and digitalization in the service sector. These topics were in line with APO Vision 2025 to leverage and adopt next-generation technologies and practices.
Thirty-six participants from 12 member countries attended the workshop, mostly from the public sector. They were joined by five resource persons, four from Singapore and one from the Republic of Korea, who shared their experiences from business and research on the service sector and its productivity.