Benefits and Risks of Offshoring and Outsourcing on Business Performance
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Added on 2023/02/02
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This presentation explores the benefits and risks of offshoring and outsourcing on business performance, with a case study on Sainsbury plc. It aims to understand the concept of offshoring and outsourcing, identify their benefits and risks, evaluate their effectiveness on Sainsbury plc, and recommend ways to overcome risks.
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RESEARCH PROJECT
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Aims and objectives Research questions Research methodology Data analysis Conclusion Recommendation References Table of Contents
Aims and Objectives Aim of the research:“To investigate the benefits and the risks of offshoring and outsourcing on business performance at global level. A case study on Sainsbury plc.” Research Objectives To understand the concept of offshoring and outsourcing in regards to business. To identify the benefits and risks of outsourcing and offshoring. To evaluate effectiveness of outsourcing and offshoring on business performance of Sainsbury plc. Recommend different ways through which Sainsbury plc can easily overcome risks of offshoring and outsourcing.
Research Questions What is the concept of offshoring and outsourcing in regards to business ? What are the benefits and risks of outsourcing and offshoring ? How to evaluate effectiveness of outsourcing and offshoring on business performance of Sainsbury plc ? What are the different ways through which Sainsbury plc can easily overcome risks of offshoring and outsourcing ?
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Research Methodology The present study will focus on descriptive research design in order to conduct proper analysis of risk and befits of outsourcing & offshoring on business performance of Sainsburry plc in global level respectively. It is helpful to gain detailed description about the topic which facilitate to attain accurate results. Thepresentreportwillfocusonrandomsamplingbyselecting respondents for proper study having sample size of 40 members.
Theme 1: Rating (out of 5) will you give to your knowledge about offshoring and outsourcing Q1. What rating (out of 5) willyougivetoyour knowledgeabout offshoringand outsourcing? Frequency (A) 515 (B) 410 (C) 35 (D) 2 or below 210
Theme 2: The key benefits of Offshoring Q2.Whatarethekey benefits of Offshoring? Frequency (A) Business growth10 (B) Access to vast pool of talent 15 (C) Reduced risk10 (D) Better Control5
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Theme 3: Major risks associated with Offshoring Q3. What are major risks associatedwith Offshoring? Frequency (A) Cultural differences5 (B) Data security10 (C)Issueregarding quality control 15 (D)Subparemployee management 10
Theme 4: The major benefits of outsourcing Q4. What are the major benefits of outsourcing? Frequency (A)Focusoncore business activities 7 (B) Staffing flexibility13 (C) Reducing in cost of business 12 (D) Improved service8
Theme 5: Main demerits of outsourcing Q5.Whataremaindemeritsof outsourcing? Frequency (A) Issue of trust12 (B) Risks regarding confidentiality12 (C)Lesscontrolonbusiness activities 10 (D) Hidden cost6
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Conclusion From the above report, it has been concluded that outsourcing can be described that when an organisation contract to do work with 3rd party. It consist another concept of offshoring which can be explained to getting work done in various nations generally leverage cost advantages. It consist the benefits of both these options while opting them by a company in context of gaining benefits like reducing cost, increasing profitability, improve quality of product and flexibility.
Recommendations Considering the above discussed information, it has been recommended that outsourcing and offshoring are beneficial for business but they both carry risk factors along with them. It is necessary for organisations to focus on related risk factors in order to remain prepare for overcoming problems along with achieving benefits of these techniques in proper manner.
References Kakabadse, N. and Kakabadse, A., 2017. Global IT sourcing: Analysis, developmentsandbest-practiceconsiderations.InGlobalOutsourcing Strategies(pp. 73-88). Routledge. Mihalache, M. and Mihalache, O.R., 2016. A decisional framework of offshoring: integrating insights from 25 years of research to provide direction for future.Decision Sciences,47(6), pp.1103-1149.
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