This article is about a term used in economics. For other uses, see service (disambiguation).

In economics and marketing, a service is the non-material equivalent of a good. Service provision has been defined as an economic activity that does not result in ownership, and this is what differentiates it from providing physical goods. It is claimed to be a process that creates benefits by facilitating either a change in customers, a change in their physical possessions, or a change in their intangible assets.

By supplying some level of skill, ingenuity, and experience, providers of a service participate in an economy without the restrictions of carrying stock (inventory) or the need to concern themselves with bulky raw materials. On the other hand, their investment in expertise does require marketing and upgrading in the face of competition which has equally few physical restrictions.

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Ernst & Young: United States RSS

Webcast: Conversion considerations for IFRS
webmaster@ey.com (Ernst & Young) Fri, 08 Aug 2008 10:27:21 -0400
A transition to International Financial Reporting Standards (IFRS) may be here faster than you think, with the potential to impact business operations throughout the media and entertainment (M&E) industry. On Wednesday, 9 July, the Ernst & Young Global Media & Entertainment Center will host a webcast to highlight how a potential transition to IFRS is likely to impact media and entertainment companies. Recent SEC developments raising the possibility for US registrants to adopt IFRS have heightened awareness that US companies are operating more and more in a global economy. As the SEC continues to discuss this critical topic, IFRS adoption in the US is becoming increasingly more likely, leading to potential significant impacts on business operations and financial statements alike.
The top 10 strategic risks for business
webmaster@ey.com (Ernst & Young) Wed, 06 Aug 2008 14:06:25 -0400
What strategic challenges are likely to affect your company in 2008 and beyond? Ten of the most critical risks, including regulatory and compliance, financial shocks, and aging consumers and workforce, are analysed in "Strategic business risk: 2008 — the top 10 risks for business".
Gaining competitive advantage: the procurement opportunity
webmaster@ey.com (Ernst & Young) Wed, 06 Aug 2008 12:59:54 -0400
The biggest impact on the procurement functions in organizations over the next two years will come from pricing pressures and attracting the right talent, according to a survey of 257 senior executives around the world. The survey, "Gaining competitive advantage:the procurement opportunity" also highlights that organizations are most concerned about the procurement function’s ability to manage change effectively in the current economic environment.
Ernst & Young US IPO Pipeline report shows increased new registrants despite turbulent market
webmaster@ey.com (Ernst & Young) Tue, 05 Aug 2008 13:47:15 -0400
Companies withdrawing from IPO Pipeline outnumber those that went public in Q2 2008 New York, August 5, 2008 — While the IPO pipeline shows an increase in companies filing to go public, only 80 companies remained in the IPO pipeline by the end of the second quarter (30 June, 2008), according to the quarterly Ernst & Young US IPO Pipeline Report. Registrations are down from 90 companies at the end of the first quarter (31 March, 2008). Despite the smaller pipeline, Q2 2008 saw 30 new registrants filing to go public, compared to 23 in Q1 2008 and 24 in Q4 2007.
US cleantech investment climbs 41% in 2nd quarter of 2008 to nearly US$1 billion, the highest quarter on record
webmaster@ey.com (Ernst & Young) Mon, 04 Aug 2008 14:26:37 -0400
Solar companies have top three VC-backed deals overall; energy efficiency remains strong San Francisco, 4 August 2008 — Venture capital investments in US cleantech companies grew by 41% to US$961.7 million in Q2 2008, up from US$683.5 million in Q1 2008, according to an Ernst & Young report based on data from Dow Jones VentureOne. This is the highest total cleantech investment on record, and comes amidst a quarter in which overall venture capital investment was down by nearly 8%. Year-on-year cleantech investment follows this upward trend, increasing 83% from Q2 2007.
Ready, set, go! Insurers gear up for Solvency II
webmaster@ey.com (Ernst & Young) Fri, 01 Aug 2008 11:15:57 -0400
Insurers have no time to waste in preparing for the new Solvency II regulations. The Quantitative Impact Studies (QIS) program gives insurers a chance to do a trial run of the new regulations to see the impact on their business. Participation is voluntary but beneficial to insurers. We discuss the key implementation considerations for Solvency II and explain how the QIS program works.

CFDA: FDA Latest Warning Letters

WL Issued to P-Ryton Corporation
FDA Tue, 18 Dec 2007 00:00:00 -0400
FDA Warning Letter Issued to P-Ryton Corporation on 18 Dec 2007 by New York District Office
WL Issued to U.S. Apothecary Labs
FDA Tue, 18 Dec 2007 00:00:00 -0400
FDA Warning Letter Issued to U.S. Apothecary Labs on 18 Dec 2007 by Los Angeles District Office
WL Issued to Wild Edibles, Inc.
FDA Tue, 04 Dec 2007 00:00:00 -0400
FDA Warning Letter Issued to Wild Edibles, Inc. on 04 Dec 2007 by New York District Office

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