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Outsourcing in Business - Case Study Example

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The paper concerns the different reasons as to why different SMEs choose to use outsourcing. Outsourcing in business refers to the act of letting a third party handle certain processes in a business organization. SMEs can decide to outsource is to avoid incurring some costs…
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Outsourcing in Business
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Download file to see previous pages SMEs will always find it more affordable to let such processes be handled externally instead of them being handled within the business organization at a higher cost. This paper aims at discussing the extent to which outsourcing enables entrepreneurs to be flexible.
Outsourcing can be used by entrepreneurs in successfully handling various projects. In business management, different projects usually require different resources. In any case, a business organization will decide to fully invest in a project independently, they will have to invest in all the resources that are needed for the project to be successful. However, things are different when a business organization decides to use outsourcing. With outsourcing, they would not have to invest in all the processes that are involved in the project. They can find a third party to carry out some of the processes that seem to be so costly that they can be able to reduce the general cost of the project. Therefore, it can be concluded that through outsourcing entrepreneurs can be able to undertake different types of the project without having fears of whether or not they have the full capability of handling the project. If they choose to ignore outsourcing then they will have to stick to the projects that they are able to undertake independently.
Outsourcing can also enable entrepreneurs to be flexible by reducing the risks involved in their undertaking. In business management the risks that require management include market, technologies, financial conditions, competition, government regulation, and many others. Through outsourcing business organizations are always able to delegate some of their functions to other business organizations with a specialty in such areas (Corbett 101). When a business organization delegates a certain function of their activities to another organization, they also delegate the risks that are involved with the function delegated. One of the biggest hindrances of diversity in entrepreneurship is the risks involved. ...Download file to see next pagesRead More
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