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Benefits and Challenges of Outsourcing Business

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Added on  2020-03-23

Benefits and Challenges of Outsourcing Business

   Added on 2020-03-23

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Running head: BENEFITS AND ADVANTAGES OF OUTSOURCINGBenefits and Challenges of Outsourcing Business Function to Third Party BankName of the University:Name of the Student:Authors Note:
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1BENEFITS AND ADVANTAGES OF OUTSOURCINGTable of Contents1. Introduction..................................................................................................................................22. Project objective..........................................................................................................................23. Project Scope...............................................................................................................................34. Literature Review........................................................................................................................34.1. Concept and Impact of Outsourcing.....................................................................................34.2. Benefits of Outsourcing........................................................................................................54.3. Limitations of Business Functions Outsourcing...................................................................64.4. Research Gap........................................................................................................................74.5. Research Hypotheses............................................................................................................85. Research questions/hypothesis....................................................................................................86. Research design and methodology..............................................................................................96.1. Quantitative Research...........................................................................................................96.2. Qualitative Research.............................................................................................................97. Research Limitations...................................................................................................................98. Time schedule............................................................................................................................109. Conclusion.................................................................................................................................11Reference List................................................................................................................................1223
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2BENEFITS AND ADVANTAGES OF OUTSOURCING23
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3BENEFITS AND ADVANTAGES OF OUTSOURCING1. IntroductionOutsourcing can be understood as a process implemented by several companies forlessening the expenses through transferring all their business parts to the third-party suppliersrather than carrying it out within the company. Such strategy is implemented by theorganizations for decreasing operating costs (Dhar 2012). This serves as a common procedureadopted by the technology companies along with several business sectors. Several businessfunctions including producing parts, information technology, accounting, marketing functionsand human resources. There are several organizations that outsource their business to severalcompanies like IBM, Kingston and Hewlett Packard. The objective of the research will be toconsider the instance of IBM and analyze the advantages and disadvantages of outsourcing anybusiness function from other third-party organizations. 2. Project objectiveThe objective of the research is to realize the advantages and issues associated with thebusiness function outsourcing from third party organizations (Ellyn 2015). The selectedorganization namely, IBM is focused on business outsourcing from another organization. This isdue to the reason that it decrease the operation cost. However, business process and functionsoutsourcing comes with several disadvantages as well. The company that is focused onoutsourcing business deals with loss on management control over the outsourcing functions. Thecompany deals with the risk of a data loss, decreasing consumer satisfaction along with severallabor concerns. The objective of the research is to reveal the benefits and disadvantages relatedwith the IBM’s business process outsourcing (Epstein 2012). 23
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