ABSTRACT
Professional services, for the purposes of this book, are defined as business services based on the application of highly specialized knowledge and expertise. This specialized knowledge is generally, but not always, certified by credentials from academic institutions or professional organizations. This definition enables us to understand the breadth of the field of professional services. It certainly includes the traditional professional service industries such as law, consulting, investment banking, and accounting. But it goes far beyond the traditional parameters to include firms in fields such as advertising, architecture, market research, engineering, public relations, software implementation, independent research and development, and many more; all these clearly provide services based on specialized knowledge.
