StudentShare solutions
Triangle menu

Outsourcing - Term Paper Example

Nobody downloaded yet
For instance, a company may outsource non-strategic functions to companies that specialize in such fields of work. Additionally, outsourcing also includes the transferring of assets and employees to another firm. The term outsourcing extends over both domestic and foreign outsourcing, and it sometimes also involves the relocation of a firm elsewhere; this is known as off-shoring. The company that provides outsourcing services is commonly called as service provider Organizations enter into a business agreement with third-party service providers that involves an interchange of payments and services. Outsourcing helps firms perform efficiently in their core functions and minimize costs incurred and shortage of skill in disciplines where they deem outsourcing appropriate. Since the early 21st century, businesses have exceedingly outsourced to firms in foreign countries; this is commonly known as off-shore outsourcing. In consequence of the widespread practice of outsourcing, several appellations have been designated to refer to various parts of the relationship between the discipline of outsourcing and firms, such as strategic outsourcing, multi-sourcing and near-shoring. Outsourcing offers more room or elasticity in controlling unnecessary expenses and spending where it is indispensable. Outsourcing gives organizations the advantage to spend on only the services that are absolutely needed and also the precise periods or times in which they need them. This reduces the expenses incurred on hiring and training of employees (Haugen, Musser and Lovelace, 2009). The biggest transition in outsourcing has come from the rapid increase in the number of firms or small groups of professionals using computer technologies to utilize outsourcing as a source or path for building pragmatic service providing businesses or systems that can be operated from any part of the globe where internet access is available. Such service providers are preferred by large firms for ephemeral employment of experts in specialized disciplines so as to have their projects or services worked on and delivered completely virtually or online. This suggests that there is a rapidly growing increase in the number of such businesses that function completely online that outsource to offshore firms to work and complete the work contracted out to them before the final service or project is sent to the end user. This is commonly practiced in website designing. Albeit outsourcing has been practiced by corporations so long work specialization has remained an important part of industry, it is rather recently that there has been a surge in outsourcing by organizations for the execution of non-strategic or non-core processes such as data entry, or billing. This is owing to the fact that such processes could be more efficiently executed by companies that specialize in the aforementioned fields respectively; this makes it more time and cost effective for organizations. Some companies outsource services for the execution of particular business functions, while others outsource services for the execution of entire processes. Outsourcing may take many forms but the two most common forms of outsourcing are: Business Process Outsourcing, BPO, and Information Technology Outsourcing, ITO. Furthermore, Business Process Outsourcing incorporates human resource outsourcing, HRO, call center outsourcing and accounting and finance outsourcing. Such processes for ...Show more

Summary

Outsourcing [University] [Instructor Name] Outsourcing is the transacting out of a business function to be performed by another company or individual. The practice of outsourcing an organization’s internal functions to a third party has been common in the modern economy since the early 21st century…
Author : parisianmadisyn
Outsourcing essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the term paper on your topic
"Outsourcing"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Should a company hire new workers or outsource an HRM function due to an increase demand of the companys product
Outsourcing is a strategy in business wherein an organizational activity is performed by another organisation. The primary goal of a firm to outsource is to conduct cost-cutting measures while at the same time perform an organizational function.
8 pages (2000 words) Term Paper
Worrying Trends for the Global Outsourcing Industry
Worrying Trends for the Global Outsourcing Industry. Outsourcing is a new emerging trend round the globe. The term ‘outsourcing’ is used for the contract between two organizations to offer services that an organization can otherwise perform using its own corporate resources.
6 pages (1500 words) Term Paper
HRM Outsourcing Paper
The essential reasoning behind human resource outsourcing is that the firm’s employees can focus on the core business while specific areas, which may be deemed non-core, are delegated to external experts and thus free up resources that may be directed to the main business of the firm.
5 pages (1250 words) Term Paper
Outsourcing
The aspect of outsourcing helps in the improvement of business relations with suppliers. On the contrary, outsourcing serves as a contributor to enhanced company performance as it allows a company to focus on its competencies.
9 pages (2250 words) Term Paper
The Impact of Strategic International Job Placement
Outsourcing or hiring in a crude sense has existed in field of business for a long time. But recently specialization has been observed in regard to this issue. There are frequent cases where companies are seen to deploy outsourcing models for functions like billing, payroll and data entry.
10 pages (2500 words) Term Paper
Outsourcing
HR firms have increased in number in recent years showing that business strategy is changing. In this essay costs and benefits associated to outsourcing of HR will be discussed and best practices of some companies will also be discussed. The major
2 pages (500 words) Term Paper
Aviation Argument Paper
Research statistics from air traffic control towers in other nations, including Canada, show that outsourcing will significantly improve the current failures of the United States Federal Aviation Administration’s air traffic control personnel. There are several
5 pages (1250 words) Term Paper
Outsourcing
Outsourcing involves transferring of activities, functions, raw materials and employees to the outsourced partner (Brian, 2004). Outsourcing has number of advantages such as it Cuts cost and increases profit margin, allows organization to
8 pages (2000 words) Term Paper
Escalation in Global Outsourcing
Thus, XperTrans was unable to accomplish the payroll accuracy service-level agreement (SLA), which "often describe the contracted delivery time and expected performance of the service" (Pearlson&
2 pages (500 words) Term Paper
Government and Offshore and Outsourcing Companies
Driven by emerging trends in the global arena and the fight to adjust to the realm of globalization, many US firms have shipped their production operations overseas. The effect of this development has been the realization of much more profits on the part of the companies and ostensibly the loss of jobs among the locals.
10 pages (2500 words) Term Paper
Hire a pro to write
a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Click to create a comment