Question

Explain four types of business functions which are outsourced.

Answer 1

1. Financial Services: Businesses frequently discover that outsourcing certain financial services is more practical and cost-effective. For example, a business that wishes to start a share offering or GDR frequently works with depository institutions, merchant banks, and credit rating organizations.
2. Advertising Services: To plan and execute advertising campaigns, businesses work with advertising companies. These firms create the copy for advertisements, rent out media space, and carry out other associated tasks. These are professionals in the field of advertising.
3. Courier Services: Companies use courier services to send packages, letters, and other items faster than the post office. Courier services collect the company’s letters and packages and deliver them to the appropriate location and recipient.
4. Customer Support Service (CSS): Customers can access several services to facilitate their purchase and use of products. Companies recognize customer service as a key competitive advantage in a competitive market. Customers require home delivery, repair and maintenance of durables, and guidance on suitable brands. Business firms can focus on sales by outsourcing customer support. Companies like GE Capital and others have established call centres in India to give help to consumers in many nations.