Market Of Business Outsourcing Samples †MyAssignmenthelp.com

Question: Discuss about the Market Of Business Outsourcing. Answer: Introduction The globalization has resulted in a development of open market and new business policies. In this blooming market of business outsourcing I, as a business student felt that adequate knowledge is necessary for my future. Therefore I wanted to study the advantages and disadvantages of business outsourcing as my research topic. The organizations have to choose appropriate business partners in order to effectively run the business. Through this research paper I aimed to design a research methodology plan in order to explore the advantages and disadvantages of outsourcing and how it builds up the business efficiency. Learning Experience Before initiating the research I set a few research objectives for the project. My primary objective was to explore how outsourcing fundamentals are used in increasing the business performance and reducing cost. I also wanted to extend the research on the role outsourcing plays in business operations. The positive and negative impacts are also analyzed through this project. I set research objectives such a way that develops certain project scopes like defining impact of outsourcing on organizational turn over and consumer satisfaction. Exploring the Literature In order meet the research objectives I had to conduct a literature review on the available literature on similar topics. I wanted to explore how various theorists and researchers have incorporated the business outsourcing in business functions. As I explored multiple secondary resources like journals and literatures, I had the opportunity to compare them to gain a deeper view. Initially I investigated the concept of business outsourcing and realized that it is a big industry, upon which a large number of employees depend and it gives the company a competitive edge as well. I referred theories of such scholars like Cicek, Ozer, Krstic and Kahrovic in order to define the outsourcing in business operations. My initial research highlighted that factors like investment reduction, cost savings, core competence, IT development and globalization act as the main driver for an effective business outsourcing. The companies are utilizing the global open market in the most effective way with the help of outsourcing. I found that in this paper the author had conducted research on certain number of operating companies and the result demonstrated that the productivity has grown enormously because of the implementation of outsourcing operation strategies. As I mentioned earlier many researchers have stressed on the factor that good outsourcing partners are required for outsourcing to operate profitably. Analyzing the research findings The statistical analysis of the research found that most of the jobs are getting outsourced in developing countries because they provide cheaper options. Outsourcing helps the companies to find best talents from all over the world. Few disadvantages of outsourcing have been discussed as well. Employees from the organizations that are outsourcing suffer from employment loss. The confidentiality of data becomes more prone to be leaked and misused. I also focused on literature that has taken examples from organizational practice of business outsourcing from the real world. Like for Unilever, by applying ERP system for outsourcing in multiple countries the company saved huge amount. For a company like Alibaba the outsourcing became strategy to expand the business successfully. Following certain researchers who I explored during my reviewing I can conclude that outsourcing is time efficient and budget friendly so it is most likely to be adapted by most number of companies in near future. I followed multiple researchers minutely and realized that outsourcing of business has both advantages and disadvantages. The advantages are mainly flexibility of business, speed increase and more profitability where the disadvantages are related to data protection and management control. Setting up Questions and Exploring Answers After reviewing the literature I set the primary question to identify the advantages and disadvantages of business outsourcing and then I set some secondary research questions that primarily ask questions related to the consequences, importance, impacts and limitations of outsourcing in business operations. The literature analysis helped me to establish the hypothesis is associated with the business outsourcing. The hypothesis I established mainly dealt with employee skills for effective outsourcing, the strategic evaluation and the opinions of the employees regarding the outsourcing program. Future prospect The findings of the research will help me to gain adequate knowledge and grow as a skilled business professional. In the competitive global market the knowledge on outsourcing will add to my experience and my future hirers are most likely to consider it with importance. The information from the research can be utilized by the organizations in the outsourcing operations. Other researchers can get information from this research that might help them to enhance the research and open up new possibilities. Observations and Connections I had to prepare a research design and methodology that could guide me towards the right direction of the research. I chose the mix methodology where I used both qualitative and quantitative research methodologies to gain and analyze the relevant data related to my research. I focused more on the qualitative research on the effect of outsourcing on the organizational practice. I have conducted an in depth interview with the selected higher level executives of the organizations on the organizational working structure. I had set a well structured questionnaire for recognizing the employee behavior. I had followed the ethical policies to conduct the research in the right way. For the quantitative research I followed a sampling method that involves small population. I performed statistical testing on the data I collected and applied on other organizations those are involved in outsourcing. Conclusion I faced few research limitations while conducting the research; like I could not engage in effective communication with the top executives of the company. I also struggled to document appropriately in the standard structure. Finally the biggest I challenge I faced was that I failed to complete the research analysis within the instructed period. I started the research on 29th September and it was supposed to be completed by 11th of January but I managed to complete the complete by 20th January. However this research was a long and difficult yet enriching journey for me. The data and information I gathered throughout the research helped me to gain knowledge that will help me in my career as a business professional.