 "travel, hotel industry")
The late management guru Peter Drucker, who presciently advocated “back room” outsourcing and corporate decentralisation at a time when these smart cost-saving techniques were anathema to produce-everything-hire-everyone mega corporations, had a few more tricks up his sleeve.
One of his key mantras — price-led costing — often overlooked even today yet something profoundly relevant to all businesses, especially those connected with travel, is worth re-examining in a dysfunctional Covid world.
The central argument is simple. Most companies tend to create a product they feel the market wants and outspend each other to produce it, subsequently passing on the entire cost
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
