Outsourcing College Essays Samples For Students

Abstract

In the contemporary business society, different nations try to adopt the idea of outsourcing as an instrument of improving the growth of their economy. Outsourcing is attained through different ways that a country would consider beneficial to the growth of its economy. Such ways may include importing cheaply skilled labor from foreign countries, investing some part of a company’s income to foreign countries, shipping manufactured goods to a foreign country to be sold there and many other ways which are mainly adopted to improve the country’s economic growth. Outsourcing may, however, exhibit divergent impacts to the county’s ...

- Discuss what would happen over the next 20 years if all health care organizations stopped updating / improving their clinical information systems. Provide specific examples to support your response.

Health care organizations need to continuously update and improve their clinical information. Updating and improving clinical information is important because it helps decision-making. If health care organizations stop, improving their systems for the next 20 years will lead to problems in health care.

Information is important in every undertaking in healthcare. The various stakeholders in healthcare must invest in technology to improve collection and storage of information in form of secure databases (Goldsmith, 2011). Failure to do this, the healthcare organization will not have the ability to deliver quality, effective and efficient care to its patients.

- Consider the difficulties involved in the development of any health information system and make at least three recommendations for ensuring optimal development.

There are many ...

Although outsourcing has been important as a solution to shortages in labor supply, it has been noted to espouse problems. The term “outsourcing” refers to the staffing process that involves contracting third parties on jobs that can be performed by current employees. This implies that it will not constitute hiring a new accountant when the current one is seriously ill. Outsourcing, which can be both foreign and domestic, has been causing controversies on whether it is beneficial or problematic, since some firms have been experiencing varied results from it. Various authors have noted that the problems should be solved since there ...

Importance of logistics management and globalization

Introduction
Logistics management is an important part of any manufacturing company’s success rate; it basically controls and manages the movement of goods from one place to another, via rail, sea, air or road. Logistics management is that part of the supply chain management that plans, controls and implements the effective, efficient forward and reverse flow and storage of services, goods and necessary information between the point of origin and the point of destination, in order to meet the client’s requirements (Importance of Logistics, 2012).
In simple words, if an Indian company wants to buy capital ...

Yes, it is ethically defensible to outsource the production to the developing where the cost of labor is low. This is because people in the developed countries are not willing to work at the lower wages. The people in developing countries have the required skills, but they do not have the required resources available in order to start their work, so they become willing to provide labor at lower wages (Harrison & Learner, 1997). In this way, the companies get benefitted with the cheap labor and the people in developing countries can earn in order to support their families. Further, ...

Outsourcing refers to the process of contracting specific tasks, services, and business processes to outside contractors and entities. Outsourcing is one of the most effective strategies to increase operational efficiency, reduce costs, and tackle shortages of skilled labor. In the current era, business analysts utilize this perspective in different scenarios and they attain long-tern benefit from the perspective of outsourcing. Outsourcing is prevalent in all sectors of the economy including services, manufacturing, customer services, information technology, and retailing. The outsourcing trend is also increasing rapidly in the healthcare industry due to the challenges faced by healthcare enterprises. Many healthcare ...

Labor, GDP, and the Firm

1. Labor is an essential factor of production for all firms. The recent estimated unemployment rate of February 2013 is 7.7%. Economists have considered three types of unemployment, which include structural unemployment, frictional unemployment, and cyclical unemployment. Structural unemployment would affect General Electric more as compared to other forms of unemployment. The structural unemployment occur when there is a mismatch of the skills, the skills possessed by workers do not match the skills required for the job, which paves the way to the lack of demand for people having particular set of the skills (Gupta). Moreover, the advancement in technology, ...

IT OUTSOURCING

Sourcing offers an opportunity to cut costs by leveraging lower costs abroad, besides getting the benefit of a 24-hour job cycle by sourcing out to countries in different time zones such as India and China. It is critical carefully to consider the nature of tasks that can be sourced out profitably without affecting quality and functionality. It is also necessary to consider the potentially adverse effect of the decision on employees’ morale as well as the costs of establishing/maintaining smooth operations with outside companies. Further cultural factors that could affect cooperation, security, compliance and integrity must be borne into consideration. ...

American Outbound International, USA.

Now that we are in the process of outsourcing our customer service activities, I would like to bring to your notice, in what ways people of the United States of America are of a totally different nature. It is much harder for anyone to convince them to purchase a product or service. On a daily basis, they are contacted by a lot of outsourcing company agents who offer them with their unique services. Therefore, to ensure the best customer service, it is essential people in your team have excellent command over the English language, have good understanding abilities, analytical skills, and show conceptual ...

The term, “Outsourcing” refers to contract out business to a third party. Hiring third parties for specific tasks or business is not new and companies have been practicing such things since centuries but the term, “outsourcing” was used in the 1980’s. Outsourcing is one of the most disputed words in the business world and people interpret it in different ways. Some find it satisfying while others hate this word. A lot has been said on outsourcing by different politicians in the United States of America from time to time. This paper intends to discuss outsourcing and how it affects ...

Question One

In coining the theory of plant location, Weber made three simplifying assumptions. One of the assumptions was that there was a fixed center of consumption. Secondly, Weber assumed that although the distribution of raw material deposits around the globe was uneven, the cost was the same. Thirdly, Weber assumed that the centers of supply of labor are fixed and the supply of labor at a cost is unlimited. Unlike Weber’s theory that considers two factors, transportation and labor cost, the spatial margin profitability considers more factors like taxes, convenience for customers and area costs. The location of heavy industry in ...

Introduction

Before the year 2001, many airline companies in the United States performed the larger part of their maintenance activities by themselves. However, in a bid to cut costs, many airlines started outsourcing maintenance activities. In fact, outsourcing has become so popular such that whenever passengers board a commercial flight in the modern day, there is a 50% probability that the aircraft that they are on has its maintenance performed not by FAA approved mechanics that have been employed by the airplane, but rather by outside individuals from the many contract repair companies or stations that exist (Ghobrial, 2005). Statistics show that airline ...

Organizations are always committed to earn economic profit with expanding the network accordingly, and there are certain aspects that depend heavily over the financial competitiveness of the company. There are certain industries of the world that are expanding their networks accordingly and effectively at the same time in particular. Financial and strategic capabilities are some of the major aspects from the viewpoint of the organization for which an entity takes different decisions.
Organizations usually referred to as places that have a number of departments in particular and among them, the name of Human Resources Department is one of them. ...

According to Kathawala, Zhang, and Shao (2005), the term outsourcing has its roots in the mid-1980s, yet the idea of hiring employees to carry out specific jobs in firms has been in existence for the past hundreds of years. Outsourcing is everywhere in business in large and small firms, complex and simple businesses alike. In the 1900s, the practice was only specific for labor intensive and productive tasks in firms and other activities that fell outside the core competitiveness of a firm. In the recent years, the outsourcing market has changed dramatically with the emerging phenomenon now becoming a common and ...

Question 1

1.a
It is clear that Wal-Mart views the current business environment as challenging. However, this has not prevented the organization from growing at a rate higher than the industry average. This is a great place for one to go and do his or her shopping for different kinds of goods in a short time. Items in the store are well organized. The prices of goods are low compared to the prices of other different places (Wal-Mart 1). One may save a lot of money while shopping at Wal-Mart compared to shopping at other places. On the other hand, Wal-Mart is normally crowded ...

- Upon settling on the decision to enter the video game market with its Xbox gaming console, Microsoft had to decide whether to outsource the production of its Xbox. The main reason why Microsoft decided to outsource the production of its Xbox is that it lacked the capacity produce a fully functional specialized computer, with all the components of a conventional computer. Microsoft realized that it lacked the manufacturing and logistics capabilities to make the Xbox itself and manage a global supply chain. Microsoft settled on Flextronics due a number of factors. To start with, Microsoft trusted Flextronics because they had worked with ...

Introduction

The world outsourcing is a common word used in today’s business processes. Outsourcing means that a company will delegate a particular business process to a party that is not a part of the company (“third party”). The third party offers benefits, apart from being able to fulfil the required work, that the organization will benefit from. When outsourcing is conducted outside the home country of the business organization that seeks it, it is called “off shoring” .
Outsourcing is a very controversial issue, especially in the United States. The detractors of outsourcing say that America is sending its jobs abroad thereby limiting job availability ...

Insourcing and Implementation

Insourcing refers to the internal allocation of business activities within an organization (Schniederjans and Schniederjans, 2005). Thus, the services to be provided are normally done by an internal department in the organization. Organizations choose to insource their business processes when they feel they have the capacity to run their business processes satisfactory and efficiently (Sounderpandian and Sinha, 2007). Additionally, organizations will choose to insource their business process in cases where they want retain certain skills in their organizations. This is especially the case where the skills give the organization a competitive advantage over its business rivals (Sounderpandian and Sinha, 2007). ...

- What conditions and methods improve the chances that offshore outsourcing of systems development will be successful?
Several big companies have been resorting to offshore outsourcing for the past years making it one of the most successful industries today. Aside from additional business opportunities that the companies realize from the projects, it also reduces their overhead costs and completion of projects on time as these are contract bound.
Although several companies have been utilizing this industry, not all companies engaged in offshore outsourcing are successful. Several factors contribute to the success of offshore outsourcing. Improper management is ...

Outsourcing refers to the strategic delegation of these additional tasks to outside resources. With increasing scale and magnitude of a company, it may get difficult and at times also undesirable to carry out every task in-house. The smarter solution to such situations is to focus only on their key strengths and core functions while outsourcing the rest. Outsourcing provides a workable means to resize and downsize the corporate systems, thus making the business flow smoother and simpler. It brings several advantages for the corporations such as improved company focus, access to diverse and world-class professional services, sharing of risks, work-pace enhanced ...

Globalization has allowed the freer movement of goods, services and even ideas throughout the world. It does not refer only to trade but to communication as well. New media and technology has allowed people to transcend barriers in communicating to one another. Communication and even delivery of certain services can be done in real time no matter how distant the countries of the client and the service provider are. Globalization also had an effect of liberating consumers. Quality goods from all over the world are available to consumers at lower cost. These are some of the positive impacts of ...

Introduction:

Outsourcing is a cost saving practice in which one company provides different goods and services to another company. It is used by different companies to transfer some portions of work to outside suppliers instead of completing it internally. It describes the strategic use of outside resources to perform organization's internal activities. It help the companies to get more skills and expertise from outside suppliers. Outsourcing is an act of acquiring products or services from an outside company that is known as vendor or supplier. The history of outsourcing is embedded with a history of the growth of modern technology ...

The debate of whether offshore outsourcing of services weakens the US economy or strengthens it has drawn various opinions. Some believe that it drains away jobs and investment thus should be abolished, while others look at it as a cost-cutting approach that should be encouraged. In economic terms, offshore outsourcing is tricky and presents a win-lose situation, and not the conventional win-win situation as framed by the economic theory equations. There are winners and losers! The individual companies and the economy at large benefits while the workers who watch as their jobs are shipped overseas lose greatly. The benefits are hard ...

Is the outsourcing of low-paid jobs to developing countries a strictly positive development for workers in such countries? Clarify your position by reference to notable industrial relations incidents or economic developments from the last decade.

The business practices of outsourcing and offshoring have been the subject of both praise and criticism. Critics of outsourcing refer to the loss of job opportunities (locally), lower quality products, and unequal pay rates among domestic and foreign workers. Proponents point to its potential to enhance productivity, lower costs, and enhance core efficiencies for outsourcing companies. There are, however, more in outsourcing in addition ...

This paper was prepared for ENS 215 Research & Writing

taught by Professor
The growing conversation over global outsourcing of jobs has been a source of fury and heated debate in the national conversation, particularly in the past 15 years with rise of globalization. In 2004, then chair of the Council of Economic Advisors, Gregory Mankiw made a public statement endorsing outsourcing as a likely plus for the economy, and characterizing in neutral terms (as quoted in Kierkegaard (2004): "Does it matter from an economic standpoint whether values of items produced abroad come on planes and ships or over fiber-optic cables? Well, no, the economics is basically the ...

The increased pace of job globalization, in developing and developed countries, has focused attention on outsourcing as an object of both praise and criticism. The loss of job opportunities (locally), lower quality products and/or services and, not least, further imbalances in income pay are all outcomes critics of outsourcing cite. On upside, job outsourcing, particularly at a global level, is apt to enhance productivity, lower costs and, for one, enhances core efficiencies for outsourcing companies, according to supporters of outsourcing. If anything, cost assumes center stage in a decades-long debate now on outsourcing. There are, however, more in outsourcing ...

Essay

Generally speaking, are you for or against outsourcing outside?
According to Campanelli and Panayides (2005), ‘most of the literature on outsourcing does not provide a rigorous definition of this phenomenon and is not clear whether or not it refers to trading in goods and/or services’.

Personally I see outsourcing as a cross-border employment of specialist in the areas of goods production and service provision.

Though ‘the decision by firms to outsource is often driven by as well as drives (i.e., is influenced by and facilitates) the emergence of specialist organizations in various fields’ (Varadarajan, 2009), I am against outsourcing overseas. It is so because I believe that

Outsourcing overseas takes jobs from millions of people which is really bad if we consider the existing rate of unemployment.

It is really a task to make people employed from overseas ...

IT/IS outsourcing in business information technology

Introduction
Information technology and systems (IT/IS) are rapidly becoming the backbone of various businesses and enterprises. In reality, the two are synonymous and work hand in hand with each other. Information technology is the use of computers, storage devices, networking equipment and infrastructure to generate, develop, store, protect and interchange all forms of electronic data. Information technology is classified under the information systems umbrella. Its primary focus is to manage technology and improve utilization to advance the general business goals.
Information systems is an overall term that describes methods, people, and processes that are designed to construct, store, influence, ...

Example of Outsourcing in Wal-Mart

Wal-Mart outsources the manufacture of its products to other countries, one of which is China. In particular, the retail company has 10,000 suppliers in China that manufacture for them. The company also has stores in over one hundred cities in the country (Chan and Unger, 2011). To gain competitive advantage, “every retail and consumer goods organization needs to have a comprehensive plan that collectively leverages either physical store and online capabilities, or both” (Ferrari, 2013). In this regard, outsourcing its manufacturing processes may be one strategy for Wal-Mart to gain a competitive advantage.

Recommendation

Although there are many benefits ...

Policy on Outsourcing

The current American public policy regarding outsourcing presents companies with incentives to move their business operation and functions abroad and through expansion the off-shoring of labor that would have been rooted in the country. The current policy of outsourcing by American is not effective as it should be (Hira & Hira, 2013). While outsourcing has its benefits, the effects it has on the country are detrimental to the economy. It is rational to assert that the public policy concerning outsourcing is not effect since the negative impacts of the outsourcing are clearly visible. The current policy of outsourcing has enabled ...

Part 3: Disadvantages, Answers with visuals

Introduction
Many studies have elucidated the centrality of outsourcing in the contemporary business platform. Companies assign their business processes to external firms instead of driving innovation agenda to strengthen the local workforce. Offshore outsourcing enables businesses to register significant profits margins and enhance their competitive advantage. Studies by Rajan & Srivastava (2007) revealed an increasing turnaround time for companies that outsource services from offshore firms. Despite the apparent benefits of outsourcing such as reduction of costs and time-saving, the practice can potentially reduce the morality of employees and make them less-connected with the company. This paper explores the disadvantages of ...

What really prompts an organization to plum for outsourcing?

Outsourcing has become a crucial part of the business plans of every organization. Outsourcing is a viable option for many companies that intend to extend their product base, profits and net income. Global outsourcing has been a rising phenomenon over the last two decade as businesses increasingly seeking newer ways to cut down costs. In their quest to reduce overhead costs, a huge majority of companies switch over to suppliers outside their domestic market as outside businesses offer them the advantage of supplying labour at low cost that too with far superior technology.
Many start-up companies do not have viable background in ...

The safety shoe brands make their decision on how to produce comparatively less costly, and they make a decision of moving their production to the other countries.
The main reason for this decision is the relatively cheaper labor costs in some developing countries like China. Subsequently, the safety shoe companies are transformed into trading businesses in their countries. Outsourcing the production of the shoes will influence the following agents in the economy: 1-Workers who were working in the shoe production factory in the countries of origin, 2-The other workers, 3-The demanders of the safety shoes, 4-The safety shoes companies' ...

Outsourcing of Low-Paid Jobs to Developing Countries

With the increased globalization, a large number of multinational firms that are located in developed countries are turning to developing countries to establish firms and carry out a number of their business activities. This practice has for a long time been referred to as outsourcing, which simply implies the transfer of a few aspects of an organisation’s business activities to another firm that has been established in another nation. According to the law of international relations, there is no undertaking that involves two nations, which will lead to an equal effect on the countries considering that one of ...

I. Current Situation and Problem
Wonderful Widgets is a manufacturing company that produces widgets. While widgets are its only product, it has two means of producing them. At times, it produces the widgets completely in-house; using a certain proportion of its own staff, equipment, facilities, material and layout to produce the widget components needed to assemble the widgets; then combine them into one finished widget. Alternatively, at other times the company outsources the production of the components parts too various suppliers so that it can devote its full resources into producing finished widgets. Recently, however, Wonderful Widgets has faced ...

Introduction

Information technology can be defined as the process of manipulating, distributing and processing information. Information technology is increasingly becoming a key component of most organizations. To remain relevant and competitive in an ever changing global environment, organizations are making use of information technology to stay ahead of the rest. The needs and behaviour of customers are changing and many businesses are making use of Information technologies to differentiate themselves and gain competitive advantage through efficiency and value. Organizations can develop competitive advantage by making use IT to make key decisions related to strategy, project management, outsourcing and corporate governance. This ...

1.0. Introduction
Human resource management in the modern times is at divergence from its classical model. Over the past few decades, it has evolved remarkably, as several new considerations have been included in its mechanism (Vani, 2011). Of such concern is recruitment that refers to the process of evaluating and hiring new talent on the basis of the preset criteria defined in relation to organizational objectives. In other words, the purpose of the recruitment process is to determine the contribution of a potential applicant to the process accomplishing the overall goals and objectives of the organization.
The importance of ...

Benefits of outsourcing

1. Efficient utilization of human resources
Outsourcing can help organizations to achieve several objectives. It helps companies to stay focused on their core businesses, while minimizing the required workforce and enhancing the quality of work by outsourcing non-core activities to the specialized organizations.
2. Elimination of the unnecessary section/department set-ups
3. Elimination of extensive training
The need to train employees often becomes an obstacle on the way to opening a new department. By outsourcing the companies can avoid additional personnel training, thus further reducing costs. Furthermore, people can benefit more from the existing training if they ...

Through the years, economics had and will continue to influence a significant part of our lives. Be it within the world’s super countries like the United States, China, Russia, Japan, Germany and the like or within the continuously blooming areas of Asia, particularly in the Southeast Asian countries like the Philippines, economics is considered an extremely important element in determining how they are able to flourish as a nation, especially when compare to their neighboring countries.
Aside from the export of goods, manufacturing of local products and tourism, businesses often comprise the bulk of a country’s economic ...

IT in Managed Care Organizations

Introduction
The most important function of information technology (IT) in managed care organizations (MCO) is to support their business. MCOs are complex in nature, offering a wide range of services to a wide range of individuals. It is vital for management to align its IT department with the operational dynamics of the organization. In this situation, it is important fo an IT department to align its goals to managed the complexity of MCO. A MCO should reduce risk if they have a well-function IT department. Thus, the IT department main concern is designing, implementing, and operating an efficient system ...

Question One

Controlling costs is one of the factors that a firm will benefit by outsourcing. However, costs control is a general term which is assumed to cover all the costs associated with the outsourced services. Upon analyzing the outsourced component, the hospital may have identified that transferring all the costs through outsourcing all the catering services may not be prudent. In such a case, it could mean that the hospital was transferring part of the catering services. As a result, the outsourced services are offered within the premises hospital premises. In effect, the firm will enhance its budgetary control by ...

Introduction

Outsourcing food service to Contract management involves contracting a business function previously performed internally to an organization that seeks to offer the same services, but at a cost. Food outsourcing presents advantages and disadvantages to business, but due to the rise in food outsourcing contract, businesses are slowly turning towards receiving these services, which offer less effort when it comes to managing food service for the business. These paper focuses on the advantages of contracting management to outsource food services, while also detailing on specific unique sides of food service rendering that promotes these advantages.
The basic reason why organization ...

Outsourcing refers to the hiring of workers on a contract basis to do a certain job. In the software industry, software engineers are contracted to build applications for clients. The client gives the application specifications and the project deadline, which the engineer has to comply with. In most situations, the client and the software engineer do not meet face to face but instead communicate through teleconferencing or online platforms. Most outsourced labor comes from overseas whereby the client is in one continent while the engineer is on a different continent, otherwise referred to as offshoring (Dubie, 2008). As a ...

The global economy is dynamic and changes all the time at a very fast rate. The change is characterized by globalization, investor demands and ever changing customer behavior. It is necessary for organizations to strategize their business operations so as to cope with the changing economic environment. International trade has brought business demands that include new technologies and robust transport systems. The entire system requires professional input in form human resources. This is due to the demand for quality service delivery and in other aspects of the business. This is essential for the firms to remain relevant and competitive in ...

Management

Introduction.
Business Intelligence (BI) is a technique or a tool that is used to transform raw data into vital information to be used for business analysis purposes (Sauter 51). There are five major key benefits of the BI in the manufacturing industry; the BI is significant in reducing labor costs. For instance, in the manufacturing industry, there are very many transactions and the generations of reports. However, when using the BI software, it is easier to reduce labor costs since the software can generate an enormous number of reports within the shortest time possible. Secondly, the BI software is essential ...

Outsourcing often refers to the practice of acquiring certain products or services that used to be produced internally by companies. Although outsourcing some of the business functions is possible both within a home country and abroad, the term outsourcing usually refers to the international sourcing of products and services. The phenomenon has gained rapid development in the end of the 90s and continues to develop in the XXI century. It is further facilitated by improvements in technology and communication that reduce uncertainty and help to manage complex outsourcing relationships.

One of the most commonly outsourced functions is basic manufacturing, which ...

(University/College/Institute)

Globalization and cultural

Contracting out has been a consistently debate. Whether the purpose of companies to outsource was to skirt around unions, maximize profits by taking advantage of the lower labor costs in another country, or just to exploit the technical expertise of expatriate contractors, the end result is that jobs are lost and others will gain owing to lower wages in that country. The animosity grows when one considers the distance and the ‘chasm’ of the wages in the country of the outsourcing company and those in the country of the contracting country (Pearlstein, 2012). However, though traditionally outsourcing gives ...

Introduction

There is no state decided minimum wage in the state of Tennessee; therefore, they follow the federal minimum wage. Therefore, there is no promised wage law in the state that requires states to pay their wages promptly. Like many other states throughout the United States of America, FLSA (Fair Labor Standards Act) applies to Tennessee workers set according to the Federal Minimum Wage and Labor Law. According to federal minimum wage in 2015, businesses throughout the state of Tennessee need to pay $7.25 per hour. The majority of workers in Tennessee gets $7.25 per hour for their daily labor ...

The dynamics of the business market are critical in shaping and defining the decision-making process of a business enterprise. The success of a company is based on its capacity to identify means and ways of taking advantage of the opportunities coming its way. This paper looks at the dynamics of outsourcing in a company and the advantages and challenges that arise from the practice of outsourcing. Outsourcing can be defined as the process of subcontracting some of the noncore services that a company provides or is involved in.
Subcontracting frees up of time, personnel and facilities that can be ...

- Globalization and burgeoning technology/innovation that shrink product-life-cycles, coupled with global competitor’s quality and price, brings goods to the USA adding to 80-90% mega-competition for most consumer goods sold in USA, compared to <25% in 1950’s. Equally, global companies compete severely and challenge US firms abroad.
- The U.S. and Eurozone economies play major roles in the world economy and are crucially important for each other’s prosperity. The two sides combined account for around 40% of world GDP, over 25% of world trade, 60% of world foreign direct investment flows, and 60%-70% of ...

Labour is an important factor that may determine the success or a failure of a company. It is especially true for organizations like Walmart, which rely on its employees both in operations and as an interface with customers. That is why the dynamics in the labour markets as well as the quality and availability of the labour force is a large determinant of the company’s success. Conversely, Walmart’s human resource strategy may have a profound effect on the employment situation in the country.

Economists typically identify three types of unemployment: frictional, structural and cyclical, which exceed the natural level of unemployment ...

Outsourcing/off-shoring represents a critical revolution of human resources management to match the strategic goals of organizations and the changing business environments. It refers to the delegation of business processes or functions to independent organizations and purchasing them as services as against performing them internally. While it presents huge opportunities for cost cuts amidst rising competition, it also presents practical and strategic difficulties in balancing employee needs and the needs of the shareholders. Purchasing of business functions and processes, or pooling resources such as call centers helps multiple companies to cut back on the transaction costs of individually carrying processes. In ...

In the business operation, outsourcing refers to the act of contracting out some business processes to a third party. The factors that drive business to decide on outsourcing their business processes are diverse. They include factors such as technological development, skilled laborers, costs such as labor cost and raw materials amongst other factors. Outsourcing can either be done within the same country or outside often referred to as offshoring and nearshoring respectively. Some of the major drivers that force businesses to outsource some of the business process include costs, strict government regulations, taxes and incentives (Carmel & Nicholson, 2007). In ...

The terms “outsourcing” and “offshoring” have similar, but slightly different meanings. Both terms refer to the corporate practice of sending work to third-party contractors external to the company, rather than assigning it to in-house employees. However, whereas outsourcing can take place entirely within a single country, offshoring is the process of sending it off to another country’s shores. In other words, when a company sends work to a contractor within its own country, it outsources the work, but if the contractor is foreign-based, it offshores the work. The chapter on offshoring further expands the definition of offshoring to ...

Analysis of Grand Chocolate’s situation

Garland Chocolates, whose headquarter is located in London, is a famous food manufacturer with over 50 plants globally, 8 of which are settled in the United States. The company generates 3 billion revenues each year.
Edgeworth Toffee is one of their top products, sold in two different formats. One is a fixed-size or a retail-ready pack with approximately 2500 cases sold a year. While the other one is a 10-pound bulk package which is placed in stores, so that the clients can pick the amount of toffee they want themselves, with around 3000 cases sold per year. Both of ...

Introduction: It has to be taken into account that outsourcing of low paid jobs is something that has been a practice for past some years in this country. The jobs are outsourced to developing nations where there is scope of finding low paid labors owing to the economic disparity between the countries.
Main body 1: Low paid jobs are outsourced as it works to enhance the profit margin of the businesses in the country.

Labor is cheap in developing nations of the world.

This is due to the huge population and asymmetrical economic growth in those countries. (Gutman, 2004)
However, this only works to enhance the profit margin ...

“Technology not only transforms societies, but it also changes social interactions and relationships between people”. In the current world technology has developed a huge influence on our society. A number of the consequences have contributed either positive or negative.
In chapter 5, Friedman argues that the free trade will affect America in an ever flattening world. He quotes that the world will run at optimal level and Americans will flourish on the idea of free trade as the world flattens. Friedman in his writing of chapter 5 analyses the effects of erecting the walls. He states that with the ...

Q1:-Difference between outsourcing and offshoring.

Outsourcing and offshoring are two unique concepts which can co-exist. Outsourcing is the way in which a company hires a third party for carrying out one or more of company's jobs/functions within the same country on company’s behalf. Whereas Offshoring is the way in which a company moves out of country, one or more of its jobs/functions to achieve certain objectives like reducing cost of manufacturing etc. It may be carried out through hiring a third party or within the same company’s group.
-Strength and weaknesses of outsourcing and offshoring.

Weaknesses of outsourcing include dependency on third party, risk of copy rights violation, delayed deliveries, circular debt.

Strengths of offshoring include reduced cost, reduced legal complications, increased ...

Abstract

Industrial ownership by nation states has been around since the 16th Century in the Western part of the world seeking protection by the Roman Empire. The significance of this act was defined at that time and even though we are in the 21st century those significances has not changed. The support for nation to own industries has made a positive impact to countries that require expansion but with benefits also comes consequences. Some of the action have prompted severe consequences for some causing economy meltdown and negative effects when in comes to global trade. The paper will look at ...

Abstract of the Chapter V

In this particular chapter, Thomas Friedman questions the necessity of the free trade across the globe and whether it will benefit America as a whole. Basically, he spent a significant amount of time thinking if David Ricardo was right or not. Ricardo, the English economist who lived at the turn of the 18th-19th centuries, described the basics of free trade. This is the beneficial cooperation of two or more countries that are concentrated on the production of goods in which they have a comparative cost advantage. So, the question is if America should keep the principles of free trade ...