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Paper on Advantages and Disadvantages of Outsourcing Business Function

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Added on  2020-02-24

Paper on Advantages and Disadvantages of Outsourcing Business Function

   Added on 2020-02-24

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BUSINESS RESEARCHLITERATURE REVIEW: ADVANTAGES AND DISADVANTAGES OF OUTSOURCING BUSINESS FUNCTIONINSTITUTIONAL AFFILIATION(S)STUDENT NAME[Pick the date]
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LITERATURE REVIEW: OUTSOURCING BUSINESS FUNCTIONTable of ContentsLITERATURE REVIEW......................................................................................................................3INTRODUCTION.............................................................................................................................3OBJECTIVES OF OUTSOURCING................................................................................................4SCOPE OF OUTSOURCING...........................................................................................................5ADVANTAGES OF OUTSOURCING.............................................................................................6DISADVANTAGES OF OUTSOURCING......................................................................................9CONCLUSION...................................................................................................................................12REFERENCES....................................................................................................................................14Page | 2
Paper on Advantages and Disadvantages of Outsourcing Business Function_2
LITERATURE REVIEW: OUTSOURCING BUSINESS FUNCTIONLITERATURE REVIEWINTRODUCTIONIn today’s business world, in order to sustain, business owners adopt ways and methods that can make their work flow fast and efficient[ CITATION Tib06 \l 1033 ]. Outsourcing is the only way that can prove beneficial as it assists in delegating work to outside people. The term outsourcing can also be defined as a process of delegating work to other people who are not joined with the firm but are supposed to carry certain tasks under agreed criteria[ CITATION Jam17 \l 1033 ]. Generally companies outsource tasks that require special treatment or the oneswhich could prove expensive for them. There are many ways by which outsourcing function can be carried like performing tasks in house, manufacturing in other units; IT enabled service, providing online jobs, or getting expert advices[ CITATION Zaf13 \l 1033 ]. Though there are many who do not believe in outsourcing as it has got many drawbacks also, but still on some or the other way has to delegate work to others like transportation, currier, engaging lawyers, etc. For a single or limited group of people, to perform all the tasks are not possible and can lack quality[ CITATION Raj141 \l 1033 ]. In this research paper advantages and disadvantages of outsourcing business function will be reviewed and concluded after observing potential reasons for outsourcing in small and big organisations. Study made by many authors and researchers have been utilised in this paper to make detailed analysis of thetopic to provide assistance to those who are planning to implement outsourcing function in their business.Page | 3
Paper on Advantages and Disadvantages of Outsourcing Business Function_3
LITERATURE REVIEW: OUTSOURCING BUSINESS FUNCTIONOBJECTIVES OF OUTSOURCING:The primary feature of outsourcing i.e. performing work in shorter time along with cost reductive manner has made outsourcing function an integral part in many organisations. Companies outsources work to others in order to get involved with latest technologies and trends which could otherwise would have been difficult to perform under limited area and people[ CITATION Mar172 \l 1033 ]. Thus external companies and agents with latest technologies are outsourced by major companies to get updated outcomes of latest trends. Time and cost saving are also significant objectives that makes organisations outsource their work along with getting efficiency[ CITATION Zaf13 \l 1033 ].Page | 4
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