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Contemporary Business Organization | Report

17 Pages4198 Words39 Views
   

Holmes Institute Sydney

   

Added on  2020-02-19

Contemporary Business Organization | Report

   

Holmes Institute Sydney

   Added on 2020-02-19

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Running head: MANAGING ACROSS BORDERSManaging across bordersName of the studentName of the universityAuthor note
Contemporary Business Organization | Report_1
1MANAGING ACROSS BORDERSExecutive summary The aim of this report is to discuss about the advantages and disadvantages of outsourcing for thecontemporary business organizations. Accordingly, critical analysis had been done in this reportin order to identify the various factors to be considered in the case of outsourcing. It had beenconcluded that outsourcing is one of key strategies for the contemporary business organizationsin order to gain competitive advantages in the market. Outsourcing helps the organizations inreducing the cost of production and providing cost effective services to the customers. It is beenidentified that the current political environment in the global market is one of the key barriersbeing faced by the organizations. Recommendations are being provided in this report in order tohelp the organizations in effective implementation of the outsourcing strategies.
Contemporary Business Organization | Report_2
2MANAGING ACROSS BORDERSTable of ContentsIntroduction......................................................................................................................................3Critical analysis of outsourcing.......................................................................................................4Advantages of outsourcing..............................................................................................................9Disadvantages of outsourcing........................................................................................................10Recommendations..........................................................................................................................11Conclusion.....................................................................................................................................12Reference.......................................................................................................................................14
Contemporary Business Organization | Report_3
3MANAGING ACROSS BORDERSIntroduction In the present business scenario, contemporary business organizations have to considervarious aspects in competing in the intensely competitive market. With the entry of more andmore business organizations in the market, the price is becoming a more determining factor forgaining competitive advantages for the business organizations (Wagner III and Hollenbeck2014). All of these organizations are trying to offer their products and services in morecompetitive prices. With having more options in the market for the customers, the price elasticityof the products or service is showing increasing trend. Thus, contemporary businessorganizations are trying to initiate various strategies and policies to reduce their cost ofproduction in order to provide more cost effective offerings to the customers. One of the key strategies for the contemporary business organization to reduce their costof production is outsourcing (Schniederjans, Schniederjans and Schniederjans 2015). In therecent times, more and more organizations are opting for outsource their partial businessactivities to any third party vendors. According to the concept of outsourcing, businessorganizations delegate their business activities to any expertise organizations which on the behalfof the former accomplish the assigned job. The key advantage in this concept is the costeffectiveness (Vaxevanou and Konstantopoulos 2015). This is due to the fact that, the vendorswhom the task is being outsourced are generally belongs from any developing countries or havetheir operational facilities in the developing countries. Setting up the operational facilities in thedeveloping countries helps in having the access to large number of skilled employees in lowercost.
Contemporary Business Organization | Report_4

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