This topic contains 10 replies, has 11 voices, and was last updated by  Vishnu varadhan 6 years, 1 month ago.

  • Author
    Posts
  • #35414
     JOHN 
    Participant
    Rank: Level 5

    Outsourcing is contracting with another company or person to do a particular function

    • It is an effective cost-saving strategy if used properly. It is cheaper to pay a third party provider than hiring a full time employee.
    • Outsourcing is used in many areas such as Manufacturing, Customer Support, Human Resources, IT, Law etc… 
    • Although Outsourcing is criticised mainly for the loss of domestic jobs, its is beneficial to companies and businesses to allocate their resources where they are most effective.   
    • Eg: Today many top companies like Infosys, TCS, Wipro, WNS, Aditya Birla use this Outsourcing strategy efficiently 

    Sentence Formation: 

    Outsourcing a job to get it done more cheaply or building a machine to do it more cheaply is really the same.

     

    #35417
     nishat Parveen 
    Participant
    Rank: Level 5

    Eg, campus interviews can also be an example of outsourcing

    #35489
     jeevithakomu 
    Participant
    Rank: Level 4

    Outsourcing is a practice used by different companies to reduce costs by transferring portions of work to outside suppliers rather than complete it internally.

    Statement : companies typically save around 15 % due to cost reduction brought about from outsourcing .A 2014 study from Data mark inc. claims one client saved 31 % over one year.

    #35551
     Indhumathi v 
    Participant
    Rank: Level 5

    Outsourcing involves subcontracting parts of a company’s value chain to other companies or contractors that specialize in those activities.

    #35585
     boutha priya 
    Participant
    Rank: Level 5

    Outsourcing is a practice used by different companies to reduce costs by transferring portions of work to outside suppliers rather than completing it internally.

Viewing 5 posts - 1 through 5 (of 11 total)

You must be logged in to reply to this topic.

CONTACT US

We're not around right now. But you can send us an email and we'll get back to you, asap.

Sending

©2022 | Rights Reserved | EQSIS | Terms and ConditionsPrivacy Policy

Log in with your credentials

Forgot your details?