How do we clarify a service industry?

Most people think of cleaning, security and hospitality as a service industry sector, when in fact a product which provides a continuous potential benefit to the customer is also a service.

Think Banking and Insurance.

The customer pays a service fee in the case of banks and in the insurance industry many benefits are payable to the customer in return for fees payable based on a risk assessment and other factors. Both industries are hugely profitable as we all know.

It therefore is a very disturbing experience in absorbing the evidence emanating from the current Royal Commission into the sector concerned in Australia.

Evidence such as Sky-High bonus and incentive schemes for employees, rewarding sales volumes that may create an unacceptable risk and prioritising sales over responsible lending obligations and requirements to act fairly with customers.

When observing the obvious question is,” Where are the Policies and Procedures for the business activities concerned? “

Do those policies and procedures condone the practices now exposed? Clearly, they do not as the regulatory authorities would be aware of such a breach.

Had an instrument like Procedure Rock been guiding the business administration, these issues would have been preventable as procedures must be acknowledged as they are implemented.

Arbitrary decisions and policy add ons would not occur as the system prevents such foolhardy management and so-called flexibility.