Professional services are occupations in the tertiary sector of the economy requiring special training in the arts or sciences.[1] Some professional services require holding professional licenses such as architects, auditors, engineers, doctors and lawyers. Other professional services involve providing specialist business support to businesses of all sizes and in all sectors; this can include tax advice, supporting a company with accounting, IT services or providing management advice.[2]

 

Contents [hide]
1 Definition
2 Example occupations
3 Provision
4 Marketing
5 See also
6 References
7 External links
Definition[edit]
Many industry groupings have been used for academic research when looking at professional services firms, making a clear definition hard to attain. Some work has been directed at better defining professional service firms (PSF). In particular, Von Nordenflycht generated a taxonomy of professional service firms, defining four types:[3]

Classic PSFs (e.g. law and accounting firms) – characterised by a high knowledge intensity, a professionalised workforce, and low capital intensity
Professional campuses (e.g. hospitals) – characterised by a high knowledge intensity, a professionalised workforce, and high capital intensity
Neo-PSFs (e.g. management consultants) – characterised by a high knowledge intensity and a low capital intensity
Technology developers (e.g. R&D firms, biotechs) – characterised by a high knowledge intensity and a high capital intensity
Frameworks such as this aid the ability of managers and academics to better understand how such firms manage themselves and how to judge benchmark practices.

Example occupations[edit]