Advantages, Disadvantages of Outsourcing Business

Added on - Mar 2020

HI6008, we will discuss the advantages & disadvantages of the outsourcing business functions, the objective of this project is to develop knowledge of outsourcing business functions, and the scope is to develop an understanding of outsourcing and analyze the advantages and disadvantages of outsourcing business. Also, learn about the identification of gaps.

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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 outsourcingbusiness functions” in which discussion will be made regarding the concept of outsourcingand various advantages and disadvantages associated with the outsourcing of businessfunctions. Outsourcing is a crucial aspect of the present business environment. The termoutsourcing 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 ofbusiness functions and advantages and disadvantages of outsourcing of business functions.The analysis will be done on different journals, articles, and sources available over theinternet 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 businessenvironment. 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 environmentand its importance for the dynamic business environment will be discussed in the literaturereview.Literature reviewBusinesses are outsourcing the functions for enhancing the effectiveness of the business. Ithas enhanced the competitiveness of the business by focusing on the core functions of thebusiness. Companies are focusing on different aspects while outsourcing the functions so asto make sure that outsourcing is generating positive outcomes for the company. The mainmotive behind outsourcing is devoting the time to important functions of the business.Globalization has increased the role of outsourcing in the business environment. Outsourcinghas 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 havestated that outsourcing is acting as a threat to the confidentiality of the data and security ofthe data. Legal consequences may arise for the company due to non-compliance with thelegal rules and regulations formed in a nation.Outsourcing is used by the businesses for reducing the efforts involved, costs involved andresources involved in the execution of the operations of the business. Outsourcing can beunderstood as using the outside resources in a strategic manner for performing the operationswhich were previously handled by the internal employees of the company using available

Finally, we analyze that outsourcing of the business functions enhances the functioning of the business as well as provides various other advantages to both the companies engaged in the outsourcing process. From the analysis of the different journals, it can be stated that outsourcing is an important aspect of this changing business environment.

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