What is outsourcing?
Outsourcing is the latest buzz word so much so that it is hard to imagine our world without outsourcing. Outsourcing can be defined as a kind of business practice of hiring a party outside a company to perform services and create goods that traditionally were performed in-house by the company’s own employees and staff.
Did you know?
- Outsourcing as a business strategy was first started in 1989.
- Kodak was one the first companies to outsource information technology back in 1989.
- Peter the Great, the Emperor of Russia, can be considered the first professional recruiter and outsourcer.
- India is the top outsourcing destination in the world.
- Globally ITO and BPO dominate the outsourcing industry today.
- India holds 65% of all outsourced IT jobs.
Let us look at some best outsourcing quotes –
Jagdish Dalal, CEO of Corporate Affairs
“Companies are past the basics of talking about outsourcing and offshoring. Executives understand outsourcing now and want to know how to effectively use it in their organizations.”
Azim Premji – Chairman of Wipro Limited
“Being in the consumer business helps us groom talent in areas like marketing, finance and logistics. We can benchmark our outsourcing business to our consumer business and its best practices.”
Alphonso Jackson – Former United States Secretary of Housing and Urban Development
“The other part of outsourcing is this: it simply says where the work can be done outside better than it can be done inside, we should do it.”
Arthur Laffer – American economist
“And just remember, every dollar we spend on outsourcing is spent on U.S. goods or invested back in the U.S. market. That’s accounting.”
Larry Elder – American radio commentator
“Outsourcing and globalization of manufacturing allows companies to reduce costs, benefits consumers with lower-cost goods and services, causes economic expansion that reduces unemployment, and increases productivity and job creation.”
Stephen Covey – Author
“Outsourcing is inevitable, and I don’t think it’s necessarily treating people like things.”
Vivek Wadhwa, American technology entrepreneur and academic
“Outsourcing was the bogeyman of the ’90’s. Protectionists portrayed it as an evil that would take American jobs away. Yes, some jobs did go offshore as people feared, but it made the global economic pie grow bigger.”
Janet Yellen – American economist
“In the long run, outsourcing is another form of trade that benefits the U.S. economy by giving us cheaper ways to do things.”
Ryan Khan – Founder of The Hired Group
“Master your strengths, outsource your weaknesses.”
Peter Drucker – Management Consultant, Educator and Author
“Do what you do best and outsource the rest.”
Manmohan Singh – Indian Economist and Politician
“Outsourcing, information technology revolution, the access to India’s human resources, India’s pool of scientists. It will help American companies to become learner, meaner, more efficient, and they become more competitive, both in the United States and in the dealing with the rest of the world.”
Tom Robbins – Author
“I’ve decided to take advantage of outsourcing. My next novel will be written by a couple of guys in Bangalore, India.”
Aravind Adiga – Writer and journalist
“India’s great economic boom, the arrival of the Internet and outsourcing, have broken the wall between provincial India and the world.”
Greg Mankiw – American macroeconomist professor
“Outsourcing American jobs will prove to be a plus for the economy in the long run. It’s simply a new way of doing international trade.”
Outsourcing has many advantages, the biggest ones being cost and time saving. With an expert and experienced outsourcing provider such as Uplers, you can focus on what you do best and let us take care of the rest. At Uplers, we provide smart, focused and passionate teams dedicated to you. Connect now to know how we can help you!