HTM 3120 Lecture 1: Chapter 1

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Department
Hospitality and Tourism Management
Course
HTM 3120
Professor
Joe Barth
Semester
Winter

Description
Chapter 1: The Role of Services In An Economy Chapter 1 The Role of Services In An Economy TEACHING NOTE This introductory chapter is intended to motivate students and arouse their interest in the importance of services in our economy and career opportunities in the 21 Century. Material on the experience economy illustrates the current economic evolution beyond the postindustrial economy. The nature of the experience economy also provides an opportunity for students to discuss their own observations and experiences. The role of information technology, innovation, and changing demographics in service sector growth can lead to speculation about the future. SUPPLEMENTARY MATERIALS The Hitchhikers Guide to Cybernomics, A Survey of the World Economy, The Economist, September 28, 1996. A 46 page special insert loaded with figures and graphs that present the transformation from an industrial economy to a service economy driven by information technology. The article discusses new jobs, productivity, and the difficulty of measuring economic output when the metrics were designed for industrial production. Joseph Pine and James Gilmore, Welcome to the Experience Economy, Harvard Business Review, JulyAugust 1998, pp. 97105. The authors describe the features of the emerging experience economy represented by firms such as the Rainforest Caf that stage an experience rather than just deliver a service. LECTURE OUTLINE I. Service Definitions II. Facilitating Role of Services in an Economy (Figure 1.1) III. Economic Evolution (Figure 1.2 and 1.3) IV. Stages of Economic Development (Table 1.2) Preindustrial society Industrial society Postindustrial society V. Nature of the Service Sector (Figure 1.4 ) The 21 Century Career (Figure 1.5) VI. New Experience Economy (Table 1.3) Consumer Service Experience (Figure 1.6) Business Service Experience (Table 1.4) 11
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