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Why Companies Outsource Services - Assignment Example

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This paper under the title "Why Companies Outsource Services" focuses on the fact that globalization involves an increased openness in international business relations, an integration of markets on a worldwide basis, and a movement toward a borderless world. …
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Why Companies Outsource Services
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Download file to see previous pages Electronic mail, the Internet, and the World Wide Web are some of the manifestations of this new technology. While these are the evident aspect of globalization, the meeting of minds across the constraints of culture and language has also become a reality. Globalization has also spawned outsourcing, which is the new-found paradigm of companies that seek to lower their cost of operations.
The biggest factor that any business manager would look for before investing in the current and future stability of the business and both short-term and long-term benefits from the business. This is particularly so when a new business is being established in a country. The thrust in globalization and free-market strategies has seen many countries opening up their economy to foreign industrial powers. What was once protectionist markets have evolved in many countries, into highly competitive markets that give equal opportunities to both national and international players? As part of the strategy to open up their resources to foreign countries and to attract foreign investments many countries have devised new plans and modified their laws so as to keep up with the times. Such actions have to be followed through by concrete actions which will contribute to building the trust of an investor and making him feel that his investment is safe in that particular land. Outsourcing as a management strategy is not a new concept. Companies have earlier used outsourcing by calling it the name ‘subcontracting’ – OEM (Original Equipment Manufacturers, system integrators and subcontractors have helped management in completing projects on time by providing the necessary skill and resources, particularly in automation and control systems. [Meyers, 2002]
The communication and information technology (IT) revolution of the late 1990s revolutionized the business processes from product design and planning to distribution and customer service, fuelling an increased demand for knowledge and IT skills to make the best use of technologies.  ...Download file to see next pagesRead More
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