Advantages and disadvantages of outsourcing - Essay Example

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Advantages and disadvantages of outsourcing

Various functions of the business can be outsourced. The function which are most popular in outsourcing are IT functions, customer care, human resource, financial functions, marketing function etc. Nike the famous sports accessories company had outsourced the work of manufacturing shoes to countries like India and China as this will reduce the cost is an example of outsourcing. Off shoring is also a type of outsourcing. When a company outsources its work to other companies which are situated in different countries is known as off shoring. The main off shoring companies are Price Waterhouse Coopers, HSBC, TCS, Wipro, IBM, Capgemini, Genpact etc. the various type of outsourcing are business process outsourcing, knowledge process outsourcing, finance and accounting outsourcing, legal process outsourcing, human resource process outsourcing etc. Outsourcing has resulted in increase in the number of employment. The process of outsourcing mainly consists of four stages they are 1) identifying whether outsourcing is required by the company 2) identifying and selecting the activities which can be outsourced 3) developing the contract 4) delegating the authority to the service provider so that the working can be smooth. The contract contains mainly three things they are the price at which the service will be provided, the legal terms and condition and the service level agreement. ...Show more

Summary

Outsourcing has become a major business in today’s world.Most of the big companies outsource their work which is not their core operation. To understand outsourcing one has to know what does outsourcing means…
Author : tyriquehettinge
Advantages and disadvantages of outsourcing essay example
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