Deciphering the DNA of how things are done

Service has not only proved to be a business with better margins, it has also gradually become the chief source of competitive advantage. How can product-centric companies make the shift?

Sat, Jul 27, 2019 - 5:50 AM

Bala Shankar

Apple store employees assist customers at the grand opening of the new Apple Carnegie Library store in Washington. Apple, known as a product company, reports service revenues of US$40 billion.

PHOTO: REUTERS

WE DON'T need to buy a car. We can pay for a ride. We don't own bicycles. We pick it up off the streets, leave it back when our ride is done. Companies don't own photocopiers. They just pay lease charges for its use. They don't own software programs. They just pay for the use. It's not even on...