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OPPORTUNITIES AND CHALLENGES OF OUTSOURCING BUSINESS FUNCTION AND PERFORMANCE OF BUSINESSES IN AUSTRALIA

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Added on  2020-03-04

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“OPPORTUNITIES AND CHALLENGES OF OUTSOURCING BUSINESS FUNCTION AND PERFORMANCE OF BUSINESSES IN AUSTRALIA” Student Name: Student ID: Subject Name: Subject ID: Date Due: Professor Name: “OPPORTUNITIES AND CHALLENGES OF OUTSOURCING BUSINESS FUNCTION AND PERFORMANCE OF BUSINESSES IN AUSTRALIA” 1 1.0 Introduction 3 1.1 Company Introduction-Optus 3 1.2 Company Introduction- Telstra 3 2.0 Project Objective 4 3.0 Project Scope 4 4.0 Literature Review 4 5.0 Conclusion 8

OPPORTUNITIES AND CHALLENGES OF OUTSOURCING BUSINESS FUNCTION AND PERFORMANCE OF BUSINESSES IN AUSTRALIA

   Added on 2020-03-04

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“OPPORTUNITIES AND CHALLENGES OF OUTSOURCING BUSINESSFUNCTION AND PERFORMANCE OF BUSINESSES IN AUSTRALIA”Student Name:Student ID:Subject Name:Subject ID:Date Due:Professor Name:1 | P a g e
OPPORTUNITIES AND CHALLENGES OF OUTSOURCING BUSINESS FUNCTION AND PERFORMANCE OF BUSINESSES IN AUSTRALIA_1
Table of Contents“OPPORTUNITIES AND CHALLENGES OF OUTSOURCING BUSINESS FUNCTION AND PERFORMANCE OF BUSINESSES IN AUSTRALIA”...............................................11.0Introduction.....................................................................................................................31.1 Company Introduction-Optus...........................................................................................31.2 Company Introduction- Telstra........................................................................................32.0Project Objective.............................................................................................................43.0Project Scope...................................................................................................................44.0 Literature Review.................................................................................................................45.0 Conclusion............................................................................................................................8Reference Lists...........................................................................................................................9Appendix..................................................................................................................................102 | P a g e
OPPORTUNITIES AND CHALLENGES OF OUTSOURCING BUSINESS FUNCTION AND PERFORMANCE OF BUSINESSES IN AUSTRALIA_2
1.0IntroductionBusiness functions outsourcing has become a key driving force for a number of industries. Growth in Australian economic and business sectors will reach beyond expectations[ CITATION Man10 \l 1033 ]. With globalisation impending large number of challenges, businesses for keeping up with competing forces will strive to do whatever they are best. In order to establish core competencies, businesses are devising sustainable and new methods for achieving performance to drive their bottom line. Majority of businesses in Australia has found outsourcing as the key drive to be cost effective. Cost effectiveness, leaner production methods and efficient ways to perform such that businesses can enhance their skills and expertise. While there remain innumerable opportunities with outsourcing, there are certain prominent challenges as well[ CITATION Ban091 \l 1033 ]. The scope of this research discusses prominent opportunities and challenges extended in outsourcing, especially in the telecommunication sector of Australia. The scope of this study is limited to analyzing outsourcing opportunities and challenges of Optus and Telstra, which are giant telecommunication companies in Australia. 1.1 Company Introduction-Optus Singtel Optus Pty Ltd is second largest telecommunication company in Australia, which is a wholly owned subsidiary of SingTel. Its headquarters is based in Sydney, New South Wales, Australia and was established in 1981. The Company has several products including fixed telephony, mobile, internet connection, cable television, leased lines, data transmission amongst other products. It employs more than 8,900 employees and earns a net revenue of A$9.02 billion with net income of A$812 million.1.2 Company Introduction- TelstraTelstra Corporation is an Australian telecommunication and media company. Established in the year 1975 with headquarters in Telstra corporate Centre Melbourne, Australia. The Company employs approximately 36,450 employees and has operating profits of A$6.12 billion with revenue worth A$28.01 billion.3 | P a g e
OPPORTUNITIES AND CHALLENGES OF OUTSOURCING BUSINESS FUNCTION AND PERFORMANCE OF BUSINESSES IN AUSTRALIA_3
2.0Project Objective In order to attain goals of the study, following project objectives needs to be identified.Project Objective 1: To analyse key reasons for outsourcing of functionsProject Objective 2: To understand the key opportunities provided through outsourcing of functionsProject Objective 3: To understand the key benefits offered through outsourcing of functionsProject Objective 4: To analyse the key challenges faced while outsourcingProject Objective 5: To diagnose favorable locations and key costs in outsourcing3.0Project ScopeProject scope defines the relevant areas in which the study will be able to make key impacts. The scope of the project is extremely limited to theoretical study and analysis only[ CITATION Bur112 \l 1033 ]. Further for the purpose of this study only two-telecommunication giants has been taken for analysis. Thus, the scope of analysis is also limited and cannot be applied or extended to any other industry. The project scope can only be applied in telecommunication sector and then the study can further be extended, to providemore applicability.4.0 Literature ReviewA literature review allows analysis pertaining to particular literature sources from journals or books that allow insight into the topic[ CITATION Pai07 \l 1033 ]. While benefits of outsourcing cannot be overemphasised, initially opportunities and then challenges related to outsourcing in Australian telecommunication sector are discussed. Second largest telecommunication giant Optus is expected to make outsourcing pertaining to HR and finance. It has tied up with global tech firms, which has also resulted in numerous job cuts, which is expected to be transferred offshore[ CITATION www17124 \l 1033 ]. The Companycut almost a thousand jobs to cut costs worth $200 million to reshape its business. The 4 | P a g e
OPPORTUNITIES AND CHALLENGES OF OUTSOURCING BUSINESS FUNCTION AND PERFORMANCE OF BUSINESSES IN AUSTRALIA_4

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