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In many cases, companies hire contractors either to have specific types of work done, or to reduce their workload. In this manner, long-term relationships are established with the companies whose capabilities complement or supplement their own.
Outsourcing can be defined as “the strategic use of outside resources to perform activities traditionally handled by internal staff and resources”. According to Griffiths D., “outsourcing is a strategy by which an organisation contracts out major functions to specialized and efficient service providers, who become valued business partners”.
The KPI Institute is partnering with Tanfidh Training & Consulting to bring you one of the most important conferences in the Middle East. The Strategy Execution Conference focuses on building leaders’ capabilities in designing, developing and executing the organizational strategy.
Nowadays, many benchmarking best practice examples come from the highly competitive and innovative airline industry. According to Jackie Fry, Ian Humphreys and Graham Francis (2005), benchmarking is considered to be the most commonly used performance tool for increasing performance both for airline companies and airports worldwide.
Every company has a strategy regarding the objectives they want to achieve, but the difference between a successful and an unsuccessful strategy lies in the steps that are taken when formulating the strategy, more specifically in the first step, the external analysis. In order to facilitate this process, organizations can deploy a number of tools to perform an external analysis thoroughly.
1. SWOT
It is an acronym for Strengths, Weaknesses, Opportunities and Threats. Strengths and Weaknesses are used for the internal scan of the company, while Opportunities and Threats are part of the external scan. By analyzing the external environment, the company can better focus its internal resources to reduce the threats and capitalize on its opportunities.
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