A Study of Impact of Outsourcing in Indian Hospitality Industry
Srinkhala Ek Sodhparak
Vaicharik Patrika (P: ISSN NO.: 2321-290X RNI : UPBIL/2013/55327
VOL-8* ISSUE-1* September- 2020 E: ISSN NO.: 2349-980X)
Paper Submission: 15/09/2020, Date of Acceptance: 26/09/2020, Date of Publication: 27/09/2020
Abstract
Research Scholor, Faculty of Commerce K.M.G.G.(PG) College, Badalpur, G.B. Nagar, Uttar Pradesh, India
Arvind Kumar Yadav
Head of Department, Faculty of Commerce K.M.G.G.(PG) College, Badalpur, G.B. Nagar, Uttar Pradesh, India
Outsourcing is an agreement in which one company hires another company to be responsible for a planned or existing activity that is or could be done internally, and sometimes involves transferring employees and assets from one firm to another.Outsourcing can be defined as the act of giving another party responsibility of performing what would otherwise be an internal system or service. In all over the world most of the companies are looking at outsourcing and hoping to achieve cost savings by handing over the work to a third-party that can take advantage of economies of scale by doing the same work for many companies. Cost savings could be easily achieved because labour costs are lower due to different costs of living in different countries. It provides wide range of tactical, powerful, flexible tools which in turn helps in achieving the business objectives in a cost effective and efficient manner. To put it in simple words an outsourcing) is a process in which a company delegates some of its business processes to another party on payment of some fee by passing over total control of process to them. This in turn cuts the operational costs considerably resulting into huge profits.Outsourcing is the opportunity for the organization in hospitality industry and some others industry as well which can provide service and product for them and can enhance their profitability without producing things are internally. The term outsourcing emerged as a corporate term in the 1980's.Outsourcing involves transfer or share in management or the decision making of a business through a management from outside and include a two-way exchange of information, trust and business coordination between the outsourcer and its client.Most of the hotels can outsource their food and beverage, marketing process, HR process etc., from their outsource provider. By applying outsourcing firms can get more concentration in the market to run our core business in a better way. In this research paper we focus onhow outsourcing could helps compete with other hotels in order to cut costs and increased profits for the hotel industry.
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