Answer in Brief
Attempt the following.
What are the advantages of outsourcing?
Advantages of Outsourcing:
- Overall cost advantages - It reduces the cost and also saves time and effort on training costs.
- Stimulates entrepreneurship, employment, and exports-
Outsourcing stimulates entrepreneurship, employment, and exports in the country.
- Low manpower Cost-
The manpower cost is much lower than that of the host company.
- Access to professional, expert, and high-Quality services-
Mostly the tasks are given to people who are skilled in that particular field. This provides us with a better level of service and fewer chances of errors.
- Emphasis on core process rather than the supporting ones-
With its help companies can focus on their core areas which lead to better profits and increase the quality of their products.
- Investment requirements are reduced -
The organization can save on investing in the latest technology, software, and infrastructure and let the outsourcing partner handle the entire infrastructure.
- Increased efficiency and productivity -
There is increased efficiency and productivity in the non-core areas of an organization.
- Knowledge sharing -
Outsourcing enables the organization to share knowledge and best practices with each other, it helps develop both the companies and also boosts goodwill in the industry.
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