Advantages and Disadvantages of Outsourcing
Added on 2020-05-11
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Running Head: REFLECTIVE REPORT Business Research Individual Reflective Journal
2REFLECTIVE REPORT I gained my awareness towards the advantages and disadvantages regarding the outsourcing business function. I also learned that the outsourcing is a business procedure that includes product and services through venture contract with suppliers. Additionally, it is analysed that most of the organization has used outsource business to decline the labour and transportation cost (Arlbjørn, et al., 2014). I also learned that the business outsource can positively influence the performance of business as well as it also quit negative impact on the business in long-term. I gained my knowledge about project scope in depth. In additionally, it can be said that the business outsources can be effective to easily enhance the performance of an organization in long-run. The outsource business function can be advantageous for saving thecost of organization. Because, it enabled the organization to decline the labour cost as well as transportation cost of firm. It will support to enhance the efficiency of business by increasing the productivity of firm in an appropriate manner. At the same time, I also analysed that thereare some significant factors that show the advantages of outsourcing business named available for 24 hours, outsourcing business process for increasing efficiency, and focus on the core business process. In oppose to this, it can be said that there are some factors that influence outsources business function named Involvement in the hidden cost and Loss of Managerial Control (Cavusgil, et al., 2014). Other factors are Pricing issues, Security risk related to exposure of sensitive data, and Political and cultural disadvantage. I gained my depth understanding about these factors that can negative impact on the firm. In additionally, I also understood that execution of innovation in the business function can be significant to obtain favourable outcome from the business in long-run. In addition to this, it can also be said that I also gained my knowledge regarding the finance and accounting, human resource management, and legal procedure. In addition to this, it can also be said that the outsourced business function can enabled the organization to categorize the activity of an organization that will be supportive to complete the specified task in less time and cost (Dolgui, et al.,
3REFLECTIVE REPORT 2013). I also learned that when an organization to make contract with third party then they relocating some power of management to the party. As a result, it can create the issue related to the management of power in the business function in the upcoming period. Moreover, the difference between political and cultural factors can create also the problem for an organization due to outsourcing the business function. Further, I also understood that in the current period an organization has suffered from the leakage of confidential data and in the outsourcing business function it can be a primary issue for an organization. Therefore, it can be said that such kinds of issues can resistthe organization to invest in the outsourcing. In oppose to this, I also gained my knowledge regarding the research objectives that were important to perform the research activity in an appropriate manner. In addition to this, I also gained my knowledge about the particular reason of businesses outsource functions. I also increased my knowledge about the scope of the project. It can be analysed that most of the researcher has completed the researcher on the business outsource function but there is lack of advantages and disadvantages of the business outsource the function (Hsu, et al., 2013). So, I learned that the research topic was appropriate. I gained some sectors that are important in the outsourced business function suchas human resource management, finance and accounting department, and legal procedure. I also learned about the development of hypothesis to accomplish the research issue in a systematic manner. I also gain my knowledge about the creation of research question that played an imperative role in the accomplishment of research issues. At the same time, it can also be said that the research design plays a crucial role in the collection of data appropriately. The research design supports to select the appropriate technique for solving theissues of research in a significant manner (Schniederjans, et al., 2015). I also learned about qualitative research a design that was appropriate for research. At the same time, I understood
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