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Analyzing outsourcing: Advantages and disadvantages

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  1. Executive summary
  2. Aims and objectives
  3. Understanding the concept of outsourcing
  4. The reasons of outsourcing
  5. Analyzing the survey
  6. Outsourcing trends
  7. Consolidation
  8. Globalization
  9. Person to person off-shoring
  10. Green outsourcing
  11. Virtual worlds
  12. Benefits and risks associated with outsourcing
  13. Few key disadvantages associated with Outsourcing
  14. Opportunities for India
  15. Engineering outsourcing
  16. Major outsourcing companies
  17. Business functions that are outsourced
  18. The future of outsourcing
  19. Future outsourcing trends worldwide
  20. Successful outsourcing
  21. Conclusion
  22. Recommendations
  23. References

The financial crisis has been spreading across the globe. Companies have been using their best strategy to survive and stay off the competition. With the expenses and costs on the rise and growing pressure from competition to keep the prices low, companies believe that outsourcing is the only viable option. In this project the author will be discussing and analyzing the concept of outsourcing. Firstly, author will deepen his knowledge by understanding the concept of outsourcing, its history and the changes that have been identified in outsourcing. Following which, we will be discussing and critically analyzing the benefits and risks or advantages and disadvantages or Pros and Cons of Outsourcing. This will help us to get a balanced view of outsourcing in order to decide whether outsourcing should be considered by growing companies or not. Lastly, we have also discussed about the different functions that are outsourced and that can be outsourced. Thus this project is basically a sum ? up of all the key highlight of outsourcing including, the benefits and risks, business functions outsourced and the trends in outsourcing.

[...] Heathfield, Outsourcing: Why and What) The results of the survey states that of the HR professionals believes that administration and Employee assistance is outsourced majorly. Author of this project have also discussed about the future of Outsourcing. Future outsourcing trends worldwide Outsourcing expenditure will continue to rise. More countries will find outsourcing attractive, creating a multi-polar world. Following the lead of the US and UK, the European Union markets will expand their offshoring programs, while Japan will increasingly look to China for its needs. [...]

[...] (James Bucki, Outsourcing: What it is and What it can do for you) The reasons of outsourcing can be myriad and different from country to country, company to company. Management or Companies taking the decision to outsource a particular business function can have various reasons. At the end all companies want their result to cut cost drastically, improve performance and gain competitive advantage. Few common reasons noted by the author of the project are: Limited Resources: one of the very common reason why management of a company decides to outsource is because of limited resources. [...]

[...] Accounting Marketing Security (James Bucki, Outsourcing: What it is and What it can do for you) In a survey conducted by the Society for Human Resource Management (SHRM) among Human Resource Professionals on the reasons for Outsourcing and what business functions are outsourced. The report stated Functions Outsourced 84 percent - 401 administration 84 percent Employee assistance/counseling 74 percent Retirement planning help 73 percent Pension administration 72 percent Temporary staffing 68 percent Background checks 57 percent Training and management development programs 54 percent Executive development and coaching 53 percent Health care benefits administration 49 percent Employee benefit administration 49 percent Payroll 46 percent Risk management 44 percent Executive staffing 41 percent Employee relocation 40 percent HRIS selection, training implementation 32 percent Recruitment 17 percent Executive compensation and incentive plans 15 percent Policy writing 14 percent Administration of compensation/incentive plans 11 percent - Wage and salary administration" (Susan M. [...]

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