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The Globalization of Services
Services represent a giant, $3 trillion global economy.
The benefits are clear. Due primarily to globalization, stability has given way to rapid, unpredictable change. Today, the speed and complexity of business have rendered traditional enterprise models inadequate. Best business practices that have been refined over decades almost overnight feel rigid and tired. This is fundamentally transforming work as we know it – today a business needs to be highly flexible, and extraordinarily connected. External providers allow a business to tap the right skills and resources at the right moment, without the larger investments of time and costs associated with recruiting, training, and managing resources internally. The impact — services are growing at more than double the rate of the annual GDP, and represent the largest cohort of job growth than any other industry.
Woman working office
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Technology has made it easier to both find and employ contingent workers. What was once unusual, today is quite common. Organizational structures (i.e. a command and control hierarchy) has a fundamental flaw, it is neither flexible or responsive.
David Coleman
President of Collaborative Strategies
We are officially a services-driven economy.
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2015
15.5 million people in the U.S. were self-employed, according to the Bureau of Labor Statistics
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Bureau of Labor and Stats
2016
Services equaled $3 trillion in global revenue
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IBIS Market Research
2020
40 percent of American workers will be contractors, service providers, or freelancers
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The 2020 Report, Intuit
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Digital technology has enabled a new semantic economy where access and scale have been decoupled. When access is universal, or nearly so, size doesn’t really matter… It doesn’t matter so much which assets you own, but what you can access.
Greg Satell
The End Of The Scale Economy
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