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Business Research - Outsourcing Business

   

Added on  2020-03-23

15 Pages3083 Words58 Views
Running head: Business research Business Research

BUSINESS RESEARCH Table of ContentsIntroduction.................................................................................................................................................3Project Objectives........................................................................................................................................3Project Scope...............................................................................................................................................3Literature Review........................................................................................................................................4Research question........................................................................................................................................5Primary question......................................................................................................................................5Secondary question..................................................................................................................................6Research Design and Methodology.............................................................................................................6Qualitative research.................................................................................................................................6Quantitative research...............................................................................................................................8Research Limitations.................................................................................................................................11Time schedule...........................................................................................................................................11Conclusion.................................................................................................................................................12References.................................................................................................................................................13Appendix...................................................................................................................................................15YChart 1: Qualitative research process......................................................5Chart 2: Quantitative research process.....................................................................7Chart 3: Quantitative data analysis process.....................................................................................8

BUSINESS RESEARCH IntroductionIn the global business scenario, the organization faces stiff competition and organizations make effort in all possible strategy to make their business stay lucrative and appropriate. Further, cost control is an essential aspect on the different manner to keep company incline, mean and well-built in their mission for accomplishing the specified goals and objectives. In addition, many initiatives have begun by the company to keep control on cost. In this way, outsourcing is a key phenomenon that is used by recent companies to control the cost. This way has increased their popularity in the existing business decades (Cavusgil, et. al., 2014). Outsourcing started as an organization when big American corporation has decided to get their ordinary job function from the third-party organization and other organization. Project ObjectivesThe main of this project is to evaluate the advantages and disadvantages of outsourcing. There are certain objectives which will be used by researchers to meet the main aim of this project. It isas follows:To analyze the advantage of outsourcing business functionsTo evaluate the disadvantages of outsourcing business functionsProject ScopeOutsourcing is a business practice in which a job function, any form of work, and activity is delegated to another person and organization. It is begun to stay away from everyday job function but it has developed into a giant industry by itself. Outsourcing has seen as a business function apart from being an industry sector as it makes sense in given business scenario. For instance, a corporation may want to produce and sell specified products. But, it is not required

BUSINESS RESEARCH that the same company produce the products in its residence nation in which cost of production can be very high as compared to producing in another nation (Schniederjans, et. al., 2015).This function also comes under the sort of outsourcing. Literature ReviewAccording to Petkov and Petkov (2017), outsourcing is a business practice which provides the benefits to the organization because it aids to give more emphasizes on their core capabilities as compared to wasting time, money and effort on everyday business activity yet it focuses on core task activities. There are large numbers of companies which engage in outsourcing as an activity because it helps them to save on the cost to a great extent. In favored to this, Abreu and Faoro (2017) demonstrated that customer care was not a central part of business function for these companies. Therefore, these companies outsourced this function from other corporations as the cost for the same business function can be less than half while this function was operated in Australia with Australian employees. Outsourcing has an impact on the different segments of the industry due to a distinct chain reaction. Therefore, the prime reason of starting outsourcing as the business function can save the cost. But, afterward, many reasons were recognized and more practices of companies were initiated to outsource.In the view of, Ketler and Walstrom (1993), cost saving is used as the primary benefit of outsourcing. It also provides different benefits. Further, management is making effort to emphasize on their prime competencies and other practices. As well as, routine job function are outsourced to other specialist companies who will do the job role as per the management. Moreover, Easy and necessary activities like building maintenance, factory maintenance, housekeeping and janitorial services cannot be core competencies of the certain company. Therefore it is outsourced from other vendors who can maintain these core capabilities. There

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