Business Services

In today's fiercely competitive world the rule is "survival of the fittest," and there is no room for non-performance. So companies tend to concentrate on what they do best and rely on outside specialists for the rest.

• To stay competitive, business enterprises are becoming increasingly dependent on specialised business services:
  • Banks — for the availability of funds.
  • Insurance companies — to insure their plant, machinery, goods, and so on.
  • Transport companies — to move raw materials and finished goods.
  • Telecom and postal services — to stay in touch with vendors, suppliers and customers.

Business services and globalisation

• The globalised world has brought rapid change to India's service industry.
• India has gained a highly competitive edge in providing services to the developed economies of the world. …