1 page/≈275 words
Business & Marketing
Facility Management (Essay Sample)
Today, OUTSOURCING is extremely important as facility management budgets shrink and the internal expertise in a company on an array of subjects is stretched. DESCRIBE FIVE KEY QUESTIONS that must be considered when deciding on the functions to be outsourced. What are the Outsourcing criteria? Source: THE FACILITY MANAGEMENT HANDBOOK, 3rd Edition. David G. Cotts, Kathy Roper, Richard Payan source..
To effectively outsource, there are five basic questions that a person has to consider. If a person considers these questions, then they will be able to minimize ROI [Return on Investment] loss. A business person should ask themselves the following questions: 1). Do the Overhead costs hinder profit growth?Investing in employees may reach diminishing return levels, because overproduction may fail to catch up with the rate of growth in overhead salaries costs. When such happens, especially due to holidays, sick days and vacations, the employees overhead cost could surpass his salary. Therefore it becomes important to outsource.2). Will outsourcing optimize a person`s time?If the employees in a person`s organization are spending more time on duties that are non-essential, then it means that the human resource is not being utilized in profitable ways. This leads to time wastage and hence loss in efficiency. Therefore it becomes important to outsource to increase efficiency.3). Is your business being hurt by wearing many hats?This means when the business owner does most of the errands in the business, they try to be in control over all the work that goes on in the business. When a person finds himself engaging in positions in the company that require other experts, then it becomes important to outsource.4). Does the business require technological investment?Currently, technology is the driving factor in all business, therefore it vital that a person invests in technology to help in disseminating information on their business through the proper Informational technology.5). Is the business owner keen in expanding the business?The ability to make the correct decision on expansion issues help the owners of a business to prosper in the market. Therefore a successful person has to know when they require help to expand their business. Hence outsource duties to qualified people. In order to make the correct decision in outsourcing, certain criteria should be followed to ensure the perso...
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