Research in Hospitality Industry

Topics: Cost-benefit analysis, Cost, Costs Pages: 5 (902 words) Published: March 15, 2013


Cost Benefit Analysis (CBA) is a systematic process for calculating and comparing benefits and costs of a project, decision or government policy.

It estimates and totals up the equivalent money value of the benefits and costs to the community of projects to establish whether they are worthwhile. These projects may be dams and highways or can be training programs and health care systems.

Cost benefit analysis has two purposes: (a) to determine if it is a sound investment/ decision (justification/ feasibility). (b) To provide a basis for comparing projects. It involves comparing the total expected benefits, to see whether the benefits out weighted the costs and how much. Cost benefits analysis, benefits and cost are expressed in money terms, and are adjusted for the time value, so that all flows of benefits and flows of project costs over time are expressed on a common basis in terms of their net present value.

Hiring a contract employee or worker can help a small business reduce its payroll and gain unexpected assistance. Contract worker tend to have a specific skills, whether it is computer systems or business administration. They can be hired for a specific short-time job, or for one that could take years, such as a setting up a network system. The advanced skills levels mean that contract employees tend to be paid more than regular terms. The job they perform should be outlined in a contract or agreement that makes the idea. They will not stay with the company beyond the scope of the job. As self- employed workers, they are responsible to pay their own social security and income tax through estimated tax payments and personnel returns.

Hiring contractual worker can reduce overhead. The attraction of hiring an independent contractor is the reduced cost in expenses, payroll, benefits, and other overhead. Lower overhead means less stress to bring in new business revenue to cover costs hiring contractual worker work on demand, hiring independent offers flexibility to the changing work demands of the company. Ability to take added opportunities as they arise, and during slow periods, have greater cost control. The hiring contractual worker work force often comes fully trained and highly specialized.

In this context the researchers decided to conduct a study about Cost Benefit analysis in Hiring Contractual Benefits of fast food restaurant in Ermita Manila to be able for us to know the importance of this, program and their contributions for the betterment of the society.

Conceptual Framework

The Paradigm of the study as presented in Figure 1 serve as a guide in conducting the study.

The Input (I) block indicates the extent of implementation of the Cost Benefit Analysis of Hiring Contractual Workers by Fast Food Restaurant in Ermita Manila in terms of Educational Assistance and Employment Opportunity. The level of effectiveness of Cost Benefit Analysis of Hiring Contractual Workers by Fast Food Restaurant in Ermita Manila in terms of planning, implementation, monitoring, evaluation and statistical treatment of data. The problems encountered in the implementation of CBA programs.

The Process (P) block contains the data gathering to attain the output study such as survey questionnaire, interview, observation, tabulation analysis and interpretation of the data.

The Output (O) block contains more systematic information on the highly effective Cost Benefit Analysis of Hiring Contractual Workers by Fast Food Restaurant in Ermita Manila.


Highly Effective Cost Benefit Analysis Responsibilities of Hiring Contractual Workers in fast food restaurant.

Gathering data through:
Survey questionnaire

Statistical treatment of data:

Tabulation Analysis and Interpretation
Extent of Implementation of the Cost Benefit Analysis of Hiring...
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