Outsourcing: Advantages and Disadvantages
Added on 2020-03-04
14 Pages3057 Words219 Views
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RUNNING HEAD: Advantages and disadvantages of outsourcing business functionsBusiness ResearchAdvantages and disadvantages of outsourcing businessfunctions
Advantages and disadvantages of outsourcing business functions1ContentsTitle:...........................................................................................................................................2Introduction................................................................................................................................2Project Objective........................................................................................................................2Project Scope..............................................................................................................................2Literature review........................................................................................................................3Quality and Currency of the articles and sources used in the literature.....................................8Identification of gaps..................................................................................................................9Conclusion................................................................................................................................10References................................................................................................................................11
Advantages and disadvantages of outsourcing business functions2Title:Advantages and disadvantages of outsourcing business functionsIntroductionThis project has been executed over the topic “Advantages and disadvantages of outsourcing business functions” in which discussion will be made regarding the concept of outsourcing and various advantages and disadvantages associated with the outsourcing of business functions. Outsourcing is a crucial aspect of the present business environment. The term outsourcing can be explained as the way or process adopted by the business for delegating thefunction of the business to external vendors or companies (Sturgeon & Gereffi, 2011). Figure 1: OutsourcingSource: (Spiridon, 2017)Project ObjectiveThe objective of this project is to develop knowledge of the concept of outsourcing of business functions and advantages and disadvantages of outsourcing of business functions. The analysis will be done on different journals, articles, and sources available over the internet for executing the project in a successful manner.
Advantages and disadvantages of outsourcing business functions3Project ScopeOutsourcing is a very wide term which is creating a huge impact on the global business environment. This literature review will focus on developing an understanding of outsourcingand analyzing the advantages and disadvantages of outsourcing business function. Outsourcing of the business functions forms an important part of the business environment and its importance for the dynamic business environment will be discussed in the literature review. Literature reviewBusinesses are outsourcing the functions for enhancing the effectiveness of the business. It has enhanced the competitiveness of the business by focusing on the core functions of the business. Companies are focusing on different aspects while outsourcing the functions so as to make sure that outsourcing is generating positive outcomes for the company. The main motive behind outsourcing is devoting the time to important functions of the business. Globalization has increased the role of outsourcing in the business environment. Outsourcing has helped organizations by reducing the cost and enhancing the performance of the business (Mirza, 2012). This is in contrast to the views of Spellman & Varrichio (2012), who have stated that outsourcing is acting as a threat to the confidentiality of the data and security of the data. Legal consequences may arise for the company due to non-compliance with the legal rules and regulations formed in a nation. Outsourcing is used by the businesses for reducing the efforts involved, costs involved and resources involved in the execution of the operations of the business. Outsourcing can be understood as using the outside resources in a strategic manner for performing the operations which were previously handled by the internal employees of the company using available
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