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In 250 words explain what are the advantages and disadvantages of outsourcing to Low-Cost Countries? How can the risks of outsourcing be mitigated?
Please upvote if answer is helpful.....
Business activities are fast changing in this dynamic world. Since the last decade, a new concept has evolved in the service sector called Business Process Outsourcing. Outsourcing is a system of getting a business task accomplished through an outside agency. Outsourcing comprises four key elements that are, contract manufacturing, contract research, contract sales and informatics. Outsourcing is more associated with IT - enabled service or BPO (Business process outsourcing). Necessity is the mother of inventions. This is especially true in the case of outsourcing also.Global competitiveness made business firm to rethink or re-look at very very many factors. These include provide higher quality products at fair and reasonable prices, satisfying ever demanding customers, coping up with the emerging technologies,...etc. These three factors were responsible for the emergence of outsourcing as a mode of business. It may be stated here that today, outsourcing is done not of compulsion but of necessity.
The Outsourcing, most used low cost countries are China, India, Mexico....etc
ADVANTAGE OF OUTSOURCING TO LOW COST COUNTRIES
DIS ADVANTAGE OF OUTSOURCING
There are several dis advantages faced in outsourcing to low cost countries.
WAYS FOR RISK OF OUTSOURCING BE MITIGATED
Loss of control, Vendor lock in, Hidden cost, Confidentiality of information....etc are the main risks of outsourcing. We can reduce this risk by adopting several techniques. That are,
In 250 words explain what are the advantages and disadvantages of outsourcing to Low-Cost Countries? How...
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