What is outsourcing and how does it impact both countries?

Answer 1

In principle, outsourcing makes things a little cheaper and should therefore increase profitabilty. However, some things need to be done 'in house'. For example, some employers (largely) outsource recruitment to key posts. The people making the decisions may be good at picking bright people, but they often don't really know what's needed by the employer. In Britain it often said that corporations 'hire people who are good at getting jobs but bad at doing them'. To the extent that this is true it's damaging for all concerned.

Answer 2

Outsourcing helps businesses save cost by hiring offshore workers to do the work. Because work is outsourced, local workers lose jobs and it then begin a chain reaction where their inability to secure their own home and other basic needs add up to the increasing poverty level, less consumer spending and lowers tax revenues.

Answer 3

I can say better because it gives the people a big chance for employment and that will reflect the growth of the economy. More outsourcing business much better, it will increase the growth of the economy and decreases the unemployment rate and it will matter on how you gonna make a strategy to make the economy better.

Answer 4

The major cause for outsourcing is you can concentrate on your core business while a BPO company will be working on your behalf. You can save time and the operational costs like salary & other benefits for those employees, office rent & related costs.

Answer 5

The effects of outsourcing is relative to the country where the work is outsourced to or from. To countries where work is outsourced to, it helps boost their economic and living standards with the influx of foreign investment in creating more jobs with better than average local rates. To countries where work is outsourced from, it create a vacuum for unemployment rate to rise and it diminishes the buying power of its local people due to the rising inability to pay for goods, debts and services.

Answer 6

The benefits of outsourcing jobs are being experienced by businesses bold & innovative to contract individuals from offshore countries for sure jobs. There's plenty of benefits of outsourcing jobs, the most obvious of coursework is getting cheap labor & saving money while doing so. All business owners know how important it is to make sure that every dollar counts, those who are beginning out.

Answer 7

Americans will have better ways of evaluating their manpower and skills, as well as giving birth to a booming entrepreneur economy.