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International Business What Are The Advantages Of Outsourcing? What Are The Disadvantages Of Outsourcing? Discuss Why These Are Advantages And Disadvantages And To Whom.

652 words - 3 pages

"OUTSOURCING"What are the advantages of outsourcing? The advantages of outsourcing you can savemoney, but there are conditions you must met before outsourcing saves money. First,there is economies standpoint where unit costs must drop as volumes increase. Second,economies should be accessible across corporate boundaries, and third the savings mustbe sufficient to outweigh the additional cost of paying other shareholders a profit.Outsourcing can help you share risk when you cross the corporate boundaries within thefinancial circles. Its best in investing, and deviating out rather than putting all yourmoney in one stock.Outsourcing may permit multiple companies to share risk. If your business is done in onelocation and an outage or a labor dispute break out then you could be put out of business.Outsourcing can help accommodate peak loads, and minimize fluctuations in headcountthat could result in from peaks and valleys in demand. To protect your staff within yourcompany from fluctuations in demand, every entrepreneur should staff to the valleys andoutsource the peaks.The added expense per hour of contractors must be balanced against the expense of hiringenough staff to handle the peaks and then wasting time between peak periods. If peakloads are frequent and the valleys are short in duration, hiring may be more economicthan outsourcing. If peaks are occasional, contractors will save money in spite of theirhigher costs per hour.Outsourcing can help develop your internal staff, hire cheap labor, well-managed, andcan enhance the development of employees. There are two strategies, one where thecontractors can be used to off-load less interesting commodity and to handle peak loads.Second, consultants and vendors can be used to perform tasks cheaper bring in new ideasto train internal staff after working closely together then put the staff on real projects.What are the disadvantages of outsourcing? Outsourcing in general can be defined aspassing of service provision or production to another internal or external party. Thechief reason of outsourcing is to reduce capital expenditure over a business process. Alsomanagement gets more time to concentrate over core competencies. This also reducesthe dependency upon internal resources and increases the flexibility to meet the changingbusiness and commercial conditions.The majority of outsourcing...

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