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Finance & Accounting
Pages 8 (2008 words)
OUTSOURCING Student’s name: Course name and number Instructor’s name Date submitted Introduction Outsourcing is a phenomenon that focuses on a strategy where some functions of an organisation are performed by an outside organisation purposely to shorten workloads and lower management and operational costs.
Outsourcing has revolutionized processes in the workplace, provided tools and valuable data and information, and has done many things of great importance to businesses and organisations. Literature Review This essay will focus on human resource outsourcing (HRO) which is becoming a trend particularly in the public sector. Human resource outsourcing affects performance of the staff. Human resource functions that are handled by an outsourcer provider are functions that some employees are used to performing. Businesses find outsourcing as an easy way to produce their products at low cost. Functions that can be outsourced include human resources, financial transaction processing (for accounts payable), procurement, distribution and logistics, and clinical data management. One of the drawbacks for outsourcing is that it can reduce product quality. This usually happens if a company outsources without careful study and planning. It can also reduce innovation. Firms must select areas in which they can concentrate their resources. Reduced innovation means lost creativity. Firms that outsource core competencies do not see the importance of focusing on employees’ capability and knowledge considering that there is a relation between contented employees and contented customers. ...
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