Overview

1.1: INTRODUCTION The business scenario has undergone a radical shift from a product or manufacturing orientation to a service orientation. It is so due to the fact that in the present times, most of economic consumption involves processes, activities, and personal interactions, rather then simply purchase a 'thing', whereas, initially management and marketing principles were based on this basic pathway - production, inventory, purchase, and consumption (David Solnet, 2011). As a result, the service industry over the years has seen a major upward shift. The total input of this industry has shown continuous growth and the contribution it has made towards overall GDP of the country has been tremendous. As per the World Bank Report (2010) the proportion of services in the world economy is 70 % and is also showing a regular growth in nearly all countries.

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