The document discusses the decision between outsourcing and insourcing for organizations. It provides an overview of factors to consider for each option, including advantages and disadvantages. The key points are:
1. Outsourcing can reduce costs by utilizing more productive external experts, and improve quality by using best practices, but risks losing control. Insourcing maintains control but may not achieve lowest costs.
2. When deciding between outsourcing and insourcing, managers should assess technology/demand trends, the organization's strategic alignment and core competencies, and conduct a total cost analysis of alternatives.
3. If outsourcing, the decision of what to outsource (full operations or partial) depends on
The document discusses management lessons that can be learned from Lord Hanuman. It provides definitions of management from several experts and lists qualities that a good manager should possess such as decision making, versatility, politeness, knowledge, communication skills, and commitment. It also presents some common challenges managers may face through a series of illustrations involving a manager dealing with opposing parties within the organization and feeling conflicted about prioritizing personal interests versus organizational goals.
This document is a seminar report submitted by Annu Kumari for her MBA degree. It discusses product branding strategies and challenges. The report provides an introduction to concepts of product branding, its importance and objectives. It discusses the role of branding, scope of product branding and reviews literature on the topic. It also covers methodology, data collection, challenges, issues, opportunities and trends in product branding.
The document discusses rural marketing in India. It defines rural as areas with populations under 5,000 and where 75% of males work in agriculture. Rural marketing involves all aspects of bringing a farm commodity to market. Key features of rural markets include their large, scattered size; diverse socioeconomics; agriculture-based income; and traditional outlook. The document outlines strategies for rural marketing, including addressing availability, affordability, acceptability, and awareness. It also discusses the rural consumer profile and strategies to motivate rural consumers.
Mozo Hunt Pvt. Ltd. publishes newspapers and magazines in 4 languages as well as other educational materials. They offer magazines on topics like fashion, sports, travel, business, news, food, and technology. The document compares the revenue of Mozo Hunt's newspapers and magazines. It also lists the price catalogue for subscription packages ranging from 1 to 36 months. Overall, an internship at Mozo Hunt provided learning experiences about marketing strategy, communication, and customer service.
The document discusses various pricing strategies and considerations for setting prices. It covers topics like customer value-based pricing, cost-based pricing, competition-based pricing, and other strategies. Various factors are examined that affect pricing decisions, such as costs, customer perceptions of value, competitors' prices, and market conditions. The document provides an overview of key concepts in pricing as well as examples and factors to consider for different pricing models.
The consumer durables industry in India is poised for strong growth driven by increasing disposable incomes and rural electrification. Major segments include consumer electronics (brown goods) like TVs and appliances (white goods) like refrigerators. The market is expected to grow at a CAGR of 14.8% to $12.5 billion by 2015. Key players like Samsung, LG, and Whirlpool have large market shares, though competition is intense. The industry relies on economic growth as higher household incomes are driving greater spending on durables.
This document provides information on Godrej Group, an Indian conglomerate founded in 1897. It discusses the origin and founder of Godrej, gives a brief history of the company's expansion over the decades into various sectors like FMCG, consumer electronics, engineering, IT, and more. The document also outlines Godrej's vision, management structure, strategies around being a first mover and pursuing globalization, and functional strategies focused on quality and efficiency. HR practices and CSR initiatives of the Godrej Group are also mentioned.
Product differentiation is a business strategy where firms create differences between their products and competitors' products. These differences can provide competitive advantages if customers prefer the unique attributes. Products can be differentiated based on their form, features, customization, performance quality, conformance quality, durability, reliability, and style. For many Indian customers, important factors are durability, features, performance, style, and an affordable price.
The document discusses management lessons that can be learned from Lord Hanuman. It provides definitions of management from several experts and lists qualities that a good manager should possess such as decision making, versatility, politeness, knowledge, communication skills, and commitment. It also presents some common challenges managers may face through a series of illustrations involving a manager dealing with opposing parties within the organization and feeling conflicted about prioritizing personal interests versus organizational goals.
This document is a seminar report submitted by Annu Kumari for her MBA degree. It discusses product branding strategies and challenges. The report provides an introduction to concepts of product branding, its importance and objectives. It discusses the role of branding, scope of product branding and reviews literature on the topic. It also covers methodology, data collection, challenges, issues, opportunities and trends in product branding.
The document discusses rural marketing in India. It defines rural as areas with populations under 5,000 and where 75% of males work in agriculture. Rural marketing involves all aspects of bringing a farm commodity to market. Key features of rural markets include their large, scattered size; diverse socioeconomics; agriculture-based income; and traditional outlook. The document outlines strategies for rural marketing, including addressing availability, affordability, acceptability, and awareness. It also discusses the rural consumer profile and strategies to motivate rural consumers.
Mozo Hunt Pvt. Ltd. publishes newspapers and magazines in 4 languages as well as other educational materials. They offer magazines on topics like fashion, sports, travel, business, news, food, and technology. The document compares the revenue of Mozo Hunt's newspapers and magazines. It also lists the price catalogue for subscription packages ranging from 1 to 36 months. Overall, an internship at Mozo Hunt provided learning experiences about marketing strategy, communication, and customer service.
The document discusses various pricing strategies and considerations for setting prices. It covers topics like customer value-based pricing, cost-based pricing, competition-based pricing, and other strategies. Various factors are examined that affect pricing decisions, such as costs, customer perceptions of value, competitors' prices, and market conditions. The document provides an overview of key concepts in pricing as well as examples and factors to consider for different pricing models.
The consumer durables industry in India is poised for strong growth driven by increasing disposable incomes and rural electrification. Major segments include consumer electronics (brown goods) like TVs and appliances (white goods) like refrigerators. The market is expected to grow at a CAGR of 14.8% to $12.5 billion by 2015. Key players like Samsung, LG, and Whirlpool have large market shares, though competition is intense. The industry relies on economic growth as higher household incomes are driving greater spending on durables.
This document provides information on Godrej Group, an Indian conglomerate founded in 1897. It discusses the origin and founder of Godrej, gives a brief history of the company's expansion over the decades into various sectors like FMCG, consumer electronics, engineering, IT, and more. The document also outlines Godrej's vision, management structure, strategies around being a first mover and pursuing globalization, and functional strategies focused on quality and efficiency. HR practices and CSR initiatives of the Godrej Group are also mentioned.
Product differentiation is a business strategy where firms create differences between their products and competitors' products. These differences can provide competitive advantages if customers prefer the unique attributes. Products can be differentiated based on their form, features, customization, performance quality, conformance quality, durability, reliability, and style. For many Indian customers, important factors are durability, features, performance, style, and an affordable price.
This document discusses product modification and defines product. It outlines three definitions of product: economic, business, and project management. Product modification is defined as changing existing products based on customer needs, both externally (size, shape, color) and internally (strength, hardness). The key aspects for implementing a product modification strategy are understanding customer preferences, buying habits, and lifestyle habits. There are three main types of product modification: quality modification which changes durability, functional modification which focuses on versatility and effectiveness, and style modification which changes the aesthetic visual aspects of a product.
Cost leadership - strategic management - Manu Melwin Joymanumelwin
Perhaps the most famous cost leader is Walmart, which has used a cost leadership strategy to become the largest company in the world.
The firm’s advertising slogans such as “Always Low Prices” and “Save Money. Live Better” communicate Walmart’s emphasis on price slashing to potential customers.
There are several strategies for positioning products:
1) Using product characteristics or customer benefits to segment based on features or advantages.
2) The price-quality approach of positioning some products as premium to justify higher prices.
3) The use or applications approach of positioning based on a product's intended use case.
4) Positioning based on target users or customer groups.
This document discusses product decisions, including the three levels of product classification. It defines products and services, and describes how consumer and industrial products are classified. Consumer products are further broken down into convenience products, shopping products, specialty products, and unsought products. The document also discusses quality dimensions for goods and services, branding decisions, packaging decisions, managing product lines, new product development strategies and processes, and the product life cycle model.
Trade promotion involves activities between manufacturers and retailers to increase product demand. It aims to boost product visibility, brand awareness, and introduce new products to consumers. There are various types of trade promotions like in-store displays, temporary price reductions, coupons, contests and sweepstakes, rebates, premiums, and sampling that are used to create awareness, encourage impulse buying, and reduce consumer apprehension about new products. However, issues in trade promotion can arise from a lack of accurate and timely analytics for planning promotions and ineffective integration between organizations and partners.
Brands build equity through developing strong brand awareness, perceived quality, and loyalty over time. Brand equity provides value to both customers and firms. For customers, brand equity helps process information and make confident purchase decisions. For firms, brand equity enhances customer attraction and retention, allows premium pricing, and creates barriers for competitors. Building strong brands is challenging due to market complexity and pressure to prioritize short-term goals over long-term brand investment.
Service Marketing Communication and PROMOTION - Module 6Azam FA
What is the relevance of marketing communication?
What are the elements of marketing communication mix?
What is the purpose and relevance of each element of marketing communication mix?
This document provides an overview of business-to-business marketing. It discusses how B2B marketing has evolved into its own discipline separate from consumer marketing. Key aspects of B2B marketing covered include the nature of B2B customers and products, characteristics of B2B markets, the organizational buying process, market sensing, collecting customer information, and globalization trends such as outsourcing. Effective B2B strategies require understanding customer needs and creating superior value through products and services. Successful implementation depends on team motivation and assessment of goals.
The document provides an overview of Total Quality Management (TQM) principles and processes for continuous improvement. It discusses Deming's 14 points for TQM and 7 deadly diseases. Steps for implementing TQM include obtaining management commitment, educating staff, focusing on customers, establishing improvement teams, and using tools like control charts. Benefits include reduced costs from fewer defects as well as improved customer satisfaction and employee engagement.
Product positioning refers to how a company presents and markets a product to differentiate it from competitors. It involves identifying key attributes that target customers value and want to be associated with. For example, Toyota positions itself on economy, Mercedes on luxury, and Porsche/BMW on performance. Proper positioning helps companies meet customer expectations, build loyalty, design effective promotions, attract different customer types, and strengthen their competitive position in the market. Regularly evaluating and adjusting positioning keeps the company's messaging aligned with customer needs and competitive offerings.
This document discusses various concepts related to product management, including:
1. It defines a product as a bundle of utilities that can satisfy customer needs, and classifies products as physical goods, services, ideas, or persons.
2. It outlines the 5 levels of a product - core benefit, basic product, expected product, augmented product, and potential product.
3. It discusses classification of products based on durability, tangibility, and consumer goods.
4. It covers concepts like product line, line stretching, product mix, branding, pricing objectives, and the procedure for setting prices.
5. It describes the stages of new product development as idea generation, screening, concept development,
How can companies differentiate products?Sameer mathur
Companies can differentiate their products in several ways:
1. Through physical attributes like size, shape, and features. This includes things like varying laptop screen sizes or unique packaging.
2. By allowing some level of customization. Mass customization allows for custom-made products at low unit costs.
3. By focusing on quality attributes like performance, consistency, durability, reliability, and aesthetic style. For example, Volvo differentiated based on reliability in automobiles.
4. Through enhanced service features across the customer lifecycle from ordering to returns. This includes ease of use, delivery speed, installation support, training, consulting, and maintenance/repairs. Differentiating the customer experience is key.
This document provides a comparative study between Himalaya and Patanjali companies. It outlines the objective as investigating consumer perception and factors affecting sales. Criteria for comparison include company profiles, demand drivers, distribution channels, awareness levels, marketing strategies, growth, weaknesses, and product ranges. Key findings are that Himalaya has been operating since 1930 while Patanjali was founded more recently. Patanjali has seen stronger recent growth while Himalaya maintains a wider international presence. Both companies offer a variety of herbal healthcare products with differing strengths in areas like affordability, quality, and celebrity promotion.
Competition in Rural Markets-Fake or Real?Rizwan Khan
Daily Milk, Lifebody soap and Fair & Lonely. These are popular brands in the hinterlands of Bangladesh . Don’t they sound familiar to daily brands Dairy Milk, Life Buoy & Fair & Lovely? Well, they not only sound but also look similar to the original brands. These brands are created by manufacturers producing cheap versions of the original brands.
Quality Function Deployment (QFD) is a systematic method that transfers customer wants and needs into product and process characteristics. QFD uses a House of Quality matrix to identify customer needs, how the product will meet those needs, relationships between customer needs and engineering requirements, and target values and specifications. QFD was developed to integrate the voice of the customer into new product and service development.
15 important marketing interview questionsSaurabh Mhase
Marketing involves identifying customer needs and designing products to fulfill those needs. There are several key marketing concepts:
1) Positioning involves creating a distinct impression of a product/service in customers' minds. A positioning map visually represents customer perceptions of competing brands.
2) When marketing goods, the 4 Ps are emphasized: product, price, place, promotion. When marketing services, there are additional factors like process, physical evidence, and people.
3) Segmentation involves dividing the market into subgroups with similar needs. Target marketing focuses on selecting specific subgroups to target. The target group is the specific segment being targeted, while the target audience refers more broadly to the intended recipients of marketing messages.
This document discusses recruitment and selection for sales positions. It begins by defining recruitment as the process of locating and attracting job applicants. It then provides details on writing job descriptions, the main sources of recruitment including advertisements, staff referrals, agencies, educational institutions and competitors. The document also outlines the selection process which includes application screening, interviews, testing, reference checks, physical exams, and making a job offer.
Mahindra & Mahindra (M&M) is one of India's largest automobile manufacturers that faced issues with quality management, product innovation, and marketing strategies. M&M implemented a Total Quality Management (TQM) approach in three phases from 1990-present to address these issues. The initial phase from 1990-1994 focused on process control and quality improvement. From 1995-1999, M&M obtained international certifications and upgraded facilities. Since 2000, M&M has expanded continuous improvement efforts across its core processes, resulting in benefits like reduced defects, increased productivity, and new model introductions. M&M is now a global leader in quality management, having won several international awards.
This document discusses market segmentation, which is the process of dividing a total market into subgroups of customers with common needs, characteristics, or behaviors. Market segmentation allows companies to create targeted products, offers, and experiences for each subgroup. The document outlines various bases for segmentation, including geographic, demographic, psychographic, and behavioral factors. It provides examples of how markets can be segmented by age, gender, income, opinions, loyalty, occasions, benefits sought, and usage. The benefits of market segmentation for companies include designing better marketing campaigns, identifying the best tactics, differentiating from competitors, and finding niche opportunities.
ASSESSING THE IMPACT OF OUTSOURCING ON ORGANIZATIONAL PERFORMANCE A CASE OF ...Brittany Allen
This document assesses the impact of outsourcing on organizational performance at Vodafone Ghana using both leading and lagging indicators. A literature review revealed theories supporting outsourcing for cost reduction and focusing on core competencies. Empirical studies showed mixed results - outsourcing positively impacted quality of service and knowledge development but showed no significant relationship with financial performance. A quantitative methodology was used to survey Vodafone Ghana employees using stratified random sampling. Statistical analysis found a moderately positive relationship between outsourcing and quality of service as well as knowledge development, but no significant relationship with financial performance.
The lecture discussed offshore outsourcing and offshoring of business services. It defined outsourcing as assigning peripheral business activities to external vendors, while offshoring refers to relocating entire business processes to another country. Offshoring provides benefits like lower labor costs, access to skilled talent, and ability to enter new markets. However, expected cost savings are often lower than anticipated due to hidden costs. Risks of offshoring include data security, loss of business knowledge, and vendor failure to deliver. Process maturity and contingency planning are important factors for successful offshoring. Outsourcing core competencies can allow companies to focus on innovation, but there is also risk of capabilities becoming non-core. Productivity measurement
This document discusses product modification and defines product. It outlines three definitions of product: economic, business, and project management. Product modification is defined as changing existing products based on customer needs, both externally (size, shape, color) and internally (strength, hardness). The key aspects for implementing a product modification strategy are understanding customer preferences, buying habits, and lifestyle habits. There are three main types of product modification: quality modification which changes durability, functional modification which focuses on versatility and effectiveness, and style modification which changes the aesthetic visual aspects of a product.
Cost leadership - strategic management - Manu Melwin Joymanumelwin
Perhaps the most famous cost leader is Walmart, which has used a cost leadership strategy to become the largest company in the world.
The firm’s advertising slogans such as “Always Low Prices” and “Save Money. Live Better” communicate Walmart’s emphasis on price slashing to potential customers.
There are several strategies for positioning products:
1) Using product characteristics or customer benefits to segment based on features or advantages.
2) The price-quality approach of positioning some products as premium to justify higher prices.
3) The use or applications approach of positioning based on a product's intended use case.
4) Positioning based on target users or customer groups.
This document discusses product decisions, including the three levels of product classification. It defines products and services, and describes how consumer and industrial products are classified. Consumer products are further broken down into convenience products, shopping products, specialty products, and unsought products. The document also discusses quality dimensions for goods and services, branding decisions, packaging decisions, managing product lines, new product development strategies and processes, and the product life cycle model.
Trade promotion involves activities between manufacturers and retailers to increase product demand. It aims to boost product visibility, brand awareness, and introduce new products to consumers. There are various types of trade promotions like in-store displays, temporary price reductions, coupons, contests and sweepstakes, rebates, premiums, and sampling that are used to create awareness, encourage impulse buying, and reduce consumer apprehension about new products. However, issues in trade promotion can arise from a lack of accurate and timely analytics for planning promotions and ineffective integration between organizations and partners.
Brands build equity through developing strong brand awareness, perceived quality, and loyalty over time. Brand equity provides value to both customers and firms. For customers, brand equity helps process information and make confident purchase decisions. For firms, brand equity enhances customer attraction and retention, allows premium pricing, and creates barriers for competitors. Building strong brands is challenging due to market complexity and pressure to prioritize short-term goals over long-term brand investment.
Service Marketing Communication and PROMOTION - Module 6Azam FA
What is the relevance of marketing communication?
What are the elements of marketing communication mix?
What is the purpose and relevance of each element of marketing communication mix?
This document provides an overview of business-to-business marketing. It discusses how B2B marketing has evolved into its own discipline separate from consumer marketing. Key aspects of B2B marketing covered include the nature of B2B customers and products, characteristics of B2B markets, the organizational buying process, market sensing, collecting customer information, and globalization trends such as outsourcing. Effective B2B strategies require understanding customer needs and creating superior value through products and services. Successful implementation depends on team motivation and assessment of goals.
The document provides an overview of Total Quality Management (TQM) principles and processes for continuous improvement. It discusses Deming's 14 points for TQM and 7 deadly diseases. Steps for implementing TQM include obtaining management commitment, educating staff, focusing on customers, establishing improvement teams, and using tools like control charts. Benefits include reduced costs from fewer defects as well as improved customer satisfaction and employee engagement.
Product positioning refers to how a company presents and markets a product to differentiate it from competitors. It involves identifying key attributes that target customers value and want to be associated with. For example, Toyota positions itself on economy, Mercedes on luxury, and Porsche/BMW on performance. Proper positioning helps companies meet customer expectations, build loyalty, design effective promotions, attract different customer types, and strengthen their competitive position in the market. Regularly evaluating and adjusting positioning keeps the company's messaging aligned with customer needs and competitive offerings.
This document discusses various concepts related to product management, including:
1. It defines a product as a bundle of utilities that can satisfy customer needs, and classifies products as physical goods, services, ideas, or persons.
2. It outlines the 5 levels of a product - core benefit, basic product, expected product, augmented product, and potential product.
3. It discusses classification of products based on durability, tangibility, and consumer goods.
4. It covers concepts like product line, line stretching, product mix, branding, pricing objectives, and the procedure for setting prices.
5. It describes the stages of new product development as idea generation, screening, concept development,
How can companies differentiate products?Sameer mathur
Companies can differentiate their products in several ways:
1. Through physical attributes like size, shape, and features. This includes things like varying laptop screen sizes or unique packaging.
2. By allowing some level of customization. Mass customization allows for custom-made products at low unit costs.
3. By focusing on quality attributes like performance, consistency, durability, reliability, and aesthetic style. For example, Volvo differentiated based on reliability in automobiles.
4. Through enhanced service features across the customer lifecycle from ordering to returns. This includes ease of use, delivery speed, installation support, training, consulting, and maintenance/repairs. Differentiating the customer experience is key.
This document provides a comparative study between Himalaya and Patanjali companies. It outlines the objective as investigating consumer perception and factors affecting sales. Criteria for comparison include company profiles, demand drivers, distribution channels, awareness levels, marketing strategies, growth, weaknesses, and product ranges. Key findings are that Himalaya has been operating since 1930 while Patanjali was founded more recently. Patanjali has seen stronger recent growth while Himalaya maintains a wider international presence. Both companies offer a variety of herbal healthcare products with differing strengths in areas like affordability, quality, and celebrity promotion.
Competition in Rural Markets-Fake or Real?Rizwan Khan
Daily Milk, Lifebody soap and Fair & Lonely. These are popular brands in the hinterlands of Bangladesh . Don’t they sound familiar to daily brands Dairy Milk, Life Buoy & Fair & Lovely? Well, they not only sound but also look similar to the original brands. These brands are created by manufacturers producing cheap versions of the original brands.
Quality Function Deployment (QFD) is a systematic method that transfers customer wants and needs into product and process characteristics. QFD uses a House of Quality matrix to identify customer needs, how the product will meet those needs, relationships between customer needs and engineering requirements, and target values and specifications. QFD was developed to integrate the voice of the customer into new product and service development.
15 important marketing interview questionsSaurabh Mhase
Marketing involves identifying customer needs and designing products to fulfill those needs. There are several key marketing concepts:
1) Positioning involves creating a distinct impression of a product/service in customers' minds. A positioning map visually represents customer perceptions of competing brands.
2) When marketing goods, the 4 Ps are emphasized: product, price, place, promotion. When marketing services, there are additional factors like process, physical evidence, and people.
3) Segmentation involves dividing the market into subgroups with similar needs. Target marketing focuses on selecting specific subgroups to target. The target group is the specific segment being targeted, while the target audience refers more broadly to the intended recipients of marketing messages.
This document discusses recruitment and selection for sales positions. It begins by defining recruitment as the process of locating and attracting job applicants. It then provides details on writing job descriptions, the main sources of recruitment including advertisements, staff referrals, agencies, educational institutions and competitors. The document also outlines the selection process which includes application screening, interviews, testing, reference checks, physical exams, and making a job offer.
Mahindra & Mahindra (M&M) is one of India's largest automobile manufacturers that faced issues with quality management, product innovation, and marketing strategies. M&M implemented a Total Quality Management (TQM) approach in three phases from 1990-present to address these issues. The initial phase from 1990-1994 focused on process control and quality improvement. From 1995-1999, M&M obtained international certifications and upgraded facilities. Since 2000, M&M has expanded continuous improvement efforts across its core processes, resulting in benefits like reduced defects, increased productivity, and new model introductions. M&M is now a global leader in quality management, having won several international awards.
This document discusses market segmentation, which is the process of dividing a total market into subgroups of customers with common needs, characteristics, or behaviors. Market segmentation allows companies to create targeted products, offers, and experiences for each subgroup. The document outlines various bases for segmentation, including geographic, demographic, psychographic, and behavioral factors. It provides examples of how markets can be segmented by age, gender, income, opinions, loyalty, occasions, benefits sought, and usage. The benefits of market segmentation for companies include designing better marketing campaigns, identifying the best tactics, differentiating from competitors, and finding niche opportunities.
ASSESSING THE IMPACT OF OUTSOURCING ON ORGANIZATIONAL PERFORMANCE A CASE OF ...Brittany Allen
This document assesses the impact of outsourcing on organizational performance at Vodafone Ghana using both leading and lagging indicators. A literature review revealed theories supporting outsourcing for cost reduction and focusing on core competencies. Empirical studies showed mixed results - outsourcing positively impacted quality of service and knowledge development but showed no significant relationship with financial performance. A quantitative methodology was used to survey Vodafone Ghana employees using stratified random sampling. Statistical analysis found a moderately positive relationship between outsourcing and quality of service as well as knowledge development, but no significant relationship with financial performance.
The lecture discussed offshore outsourcing and offshoring of business services. It defined outsourcing as assigning peripheral business activities to external vendors, while offshoring refers to relocating entire business processes to another country. Offshoring provides benefits like lower labor costs, access to skilled talent, and ability to enter new markets. However, expected cost savings are often lower than anticipated due to hidden costs. Risks of offshoring include data security, loss of business knowledge, and vendor failure to deliver. Process maturity and contingency planning are important factors for successful offshoring. Outsourcing core competencies can allow companies to focus on innovation, but there is also risk of capabilities becoming non-core. Productivity measurement
A Guide to Business Process Outsourcing - CogneesolCogneesol
Business Process Outsourcing is becoming the latest trend in recent years. Know about the factors driving the need for outsourcing business solutions and common traps of outsourcing. Also know what to outsource or what type of business solutions are suitable for you to improve the overall productivity of your business process.
The document discusses outsourcing and its impact on jobs and the economy in the United States. It notes that over 14 million American jobs are at risk of being outsourced offshore, making it difficult for recent college graduates to find work. While outsourcing was once concentrated in minimum wage labor jobs, it now includes white collar jobs in fields like IT, accounting, and architecture. As more jobs are sent overseas, there are fewer opportunities for American workers, damaging the economy. The outsourcing of jobs is contributing to the lack of jobs available for college graduates in the United States.
Despite the widespread adoption and numerous benefits of offshoring as a business solution, there remains a surprising lack of awareness among many individuals regarding its effectiveness. Offshoring, the business practice of relocating business processes or operations to other countries, has evolved significantly over the years and has become a strategic tool for organizations across diverse industries. Yet, the true potential and benefits of offshoring often remain unrecognized or misunderstood by those who have not delved into its intricacies.
https://isupportworldwide.com/the-benefits-of-offshoring-in-2023/
1) The document analyzes IT outsourcing practices of two large global organizations, Firm-1 and Firm-2.
2) For Firm-1, the main objectives of IT outsourcing are cost reduction, focusing on core activities, and gaining access to professional services. Main benefits realized are cost savings, optimal resource allocation, and improved flexibility.
3) Key risks for Firm-1 include protecting core knowledge and clearly defining project scope. Main challenges are deciding what to outsource, ongoing vendor management, and governance. Best practices include stakeholder buy-in and prioritizing action items.
Outsourcing Life Cycle: Assessment / Business CaseAltoros
The document discusses software companies outsourcing some of their product development to external vendors in order to accelerate innovation, lower costs, and increase shareholder value. It recommends companies first conduct a thorough readiness assessment to examine their ability to outsource and determine which applications and processes are best suited. The assessment evaluates business objectives, development processes, culture, and financial expectations. It provides a report on outsourcing readiness along with recommendations on project sequencing, ROI analysis, and an engagement roadmap. Strategic outsourcing requires the right planning, governance, communication, and management in order to be successful.
This document provides an overview and feasibility study for outsourcing some functions of a law firm. It discusses major trends in the legal industry that are pushing firms to outsource, such as rising costs and client demands. The document outlines a 5-phase process for assessing which functions to outsource including research, design, testing, implementation and optimization. It analyzes the benefits of outsourcing functions like business development, marketing and back office work. Specifically, outsourcing could reduce costs by 30-80% while improving processes, access to talent and risk management.
Running head BUSIENSS POLICY DEVLEOPMENT AND IMPLEMENTATION 1B.docxsusanschei
Running head: BUSIENSS POLICY DEVLEOPMENT AND IMPLEMENTATION 1
BUSIENSS POLICY DEVLEOPMENT AND IMPLEMENTATION 2
Business Policy Development and Implementation
Student’s Name
Institutional Affiliation
Business Policy Development and Implementation
Introduction
In a constantly changing organizational and business environment, companies are increasingly facing stiff competition. As such, they are compelled by the need to improve their performance and do things in the most desired ways in order to meet the needs of consumers (Gomes & Romão, 2013). In light of these patterns, organizations can no longer be dependent upon the traditional analytical tools. Instead, they have seen the need to use models and frameworks such as the balanced scorecard to examine the degree to which companies work to attain their mission and vision. In addition, strategic decision-making must also be done through observance of the constantly changing trends and patterns that may affect the status of an organization. In this report, I provide ways in which our team members made logical decisions and how we utilized the balanced scorecard framework.
Decision Logic and What Supported the Decisions
The decisions that we embraced in the Capsim project was driven by the desire to generate a competitive advantage over other rivals. Therefore, we saw the need to take a closer look at the use of decision-making strategies within our business and operational environment. The main decisions that we made were associated with issues such as product development, research and development, innovation, marketing, as well as human resources and finance. There are various factors that made it possible for the team to make strategic decisions. First, having ready access to information, ranging from the details of the potential markets for the organization’s products and services, as well as estimates of next year’s labor requirements, is important. The more accurate and complete the information is, the more effective the strategic decisions we made. For instance, we relied on technological tools such as information systems to provide the team with accurate information about business intelligence issues (Spetzler, Winter & Meyer, 2016). Decision-making on production and product development functions heavily relied on technological tools such as spreadsheets and databases to calculate the efficacy of different machines, and to introduce new products in the production process. In order to support marketing decisions, we utilized Big Data technologies and analytics to determine the effects of different pricing strategies and to keep the records of consumer profiles. These tools were also utilized to plan the launching of new products and services. Human resources decisions were made with the purpose of planning for the next round and determining the pay awards. Planning decisions also sought to determine employee records and rewards. Finance decisions were also made to draw up p ...
A guide to enable outsourcing Decision - This file is a Pre Published document on the internet. https://www.outsource2india.com/whitepapers/Outsourcing-mantras.pdf
Tricks of the Transformation Trade: Disruptive Disintermediation, Agility Age...UMT
A vast majority of U.S multinational firms – 93% in fact, according to a recent survey – are at some stage
of undergoing or preparing for business transformation initiatives. This is being driven by an unprecedented
confluence of changes in customer behavior, disruptive technology and domestic competition, among other
key triggers. It’s constantly “transform or wither” in today’s volatile global business, and
agility is the executive imperative of the day, albeit an elusive one. An organization’s long term success or failure
depends on its capacity to consistently identify opportunities and risks and renew itself faster than rivals do.
Business leaders need to be more efficient and effective at updating and implementing strategies than ever
before. If wielded correctly, an important weapon in their agility war chest is a new style of enterprise program
management office (PMO) that is more comprehensive than in the past.
The document discusses key aspects of outsourcing including what it is, what functions companies typically outsource, trends in outsourcing, and the role of advisors. Outsourcing involves transferring responsibility for non-core business functions to third parties. Common outsourced functions include IT, BPO, and finance/accounting. New trends include a shift from transactional SLAs to performance metrics, multi-sourcing vs governance challenges, and an evolving outsourcing provider landscape. Outsourcing advisors can help companies avoid pitfalls and make informed sourcing decisions through benchmarking, structured processes, and governance expertise.
This document summarizes a presentation on managing risks when offshoring services, including experiences from India. The key points discussed include:
- Offshoring provides benefits like lower costs, access to skilled talent, and time zone advantages, but also poses operational, strategic, and compliance risks.
- Common risks include miscommunication due to language/cultural barriers, public resistance, security/data integrity issues, and wage inflation reducing cost benefits.
- Risks can be managed through measures like joint knowledge sharing, well-defined risk matrices, transition management, and monitoring offshored activities.
- India is a favored offshore destination for its skilled English-speaking workforce and quality standards, though economic downturn
This document summarizes a research paper from the International Journal of Management that studied global outsourcing practices. The paper discusses how outsourcing has become an increasingly important strategic component for many companies to focus on core competencies. It provides background on the growth of outsourcing historically and its importance in various sectors. The objectives of the research paper were to study global outsourcing systems/processes and highlight modern developments like strategic outsourcing, business process outsourcing, and knowledge process outsourcing. Secondary data was collected from various publications.
The document discusses global operations and outsourcing strategies used by multinational companies. It identifies four types of outsourcing based on location and firm control: captive onshore, non-captive onshore, captive offshore, and non-captive offshore. Captive offshore outsourcing, referred to as offshoring, moves supplies sourcing to affiliated foreign firms. Offshoring allows companies to lower costs by performing activities in low-cost locations and improving quality control. Total quality management and six sigma programs are approaches used to boost quality and reduce costs throughout global supply chains.
This document summarizes a research paper on the effectiveness of outsourcing internal audit and financial reporting functions. It conducted a survey of executives from private sector companies in India. Key findings include:
- Most respondents agreed that outsourcing these functions would streamline processes, improve detection of fraud, and allow CFOs to focus on strategic issues. However, many felt corporate interference could still occur with outsourced auditors.
- The paper provides a checklist for companies to consider before outsourcing, including performing a cost-benefit analysis, managing vendor lock-in, and establishing entry/exit criteria for outsourcing firms.
- While outsourcing may reduce costs, the document concludes that transparency
This document discusses achieving agile outsourcing through a collaborative approach. It defines agility and outlines how each step of the outsourcing process - strategy, commercial, transition, and transformation - can incorporate agile thinking. Flexibility is becoming an important driver for outsourcing. The document recommends focusing on outcomes over transactions, collaboration over contract negotiation, and responding to change over following a rigid plan in order to realize the value of outsourcing through an agile approach.
The document provides an overview of various marketing research and analysis tools including PESTEL analysis, SWOT analysis, segmentation, target markets, value propositions, competitive advantages, Hofstede's cultural dimensions, and the marketing mix (4Ps). It discusses how these concepts are used to evaluate business opportunities and develop effective marketing strategies when expanding into global markets. Key factors that must be considered for international market entry such as target markets, entry mode, timing, and exit strategies are also summarized.
Submission Deadline: 30th September 2022
Acceptance Notification: Within Three Days’ time period
Online Publication: Within 24 Hrs. time Period
Expected Date of Dispatch of Printed Journal: 5th October 2022
MODELING AND ANALYSIS OF SURFACE ROUGHNESS AND WHITE LATER THICKNESS IN WIRE-...IAEME Publication
White layer thickness (WLT) formed and surface roughness in wire electric discharge turning (WEDT) of tungsten carbide composite has been made to model through response surface methodology (RSM). A Taguchi’s standard Design of experiments involving five input variables with three levels has been employed to establish a mathematical model between input parameters and responses. Percentage of cobalt content, spindle speed, Pulse on-time, wire feed and pulse off-time were changed during the experimental tests based on the Taguchi’s orthogonal array L27 (3^13). Analysis of variance (ANOVA) revealed that the mathematical models obtained can adequately describe performance within the parameters of the factors considered. There was a good agreement between the experimental and predicted values in this study.
A STUDY ON THE REASONS FOR TRANSGENDER TO BECOME ENTREPRENEURSIAEME Publication
The study explores the reasons for a transgender to become entrepreneurs. In this study transgender entrepreneur was taken as independent variable and reasons to become as dependent variable. Data were collected through a structured questionnaire containing a five point Likert Scale. The study examined the data of 30 transgender entrepreneurs in Salem Municipal Corporation of Tamil Nadu State, India. Simple Random sampling technique was used. Garrett Ranking Technique (Percentile Position, Mean Scores) was used as the analysis for the present study to identify the top 13 stimulus factors for establishment of trans entrepreneurial venture. Economic advancement of a nation is governed upon the upshot of a resolute entrepreneurial doings. The conception of entrepreneurship has stretched and materialized to the socially deflated uncharted sections of transgender community. Presently transgenders have smashed their stereotypes and are making recent headlines of achievements in various fields of our Indian society. The trans-community is gradually being observed in a new light and has been trying to achieve prospective growth in entrepreneurship. The findings of the research revealed that the optimistic changes are taking place to change affirmative societal outlook of the transgender for entrepreneurial ventureship. It also laid emphasis on other transgenders to renovate their traditional living. The paper also highlights that legislators, supervisory body should endorse an impartial canons and reforms in Tamil Nadu Transgender Welfare Board Association.
BROAD UNEXPOSED SKILLS OF TRANSGENDER ENTREPRENEURSIAEME Publication
Since ages gender difference is always a debatable theme whether caused by nature, evolution or environment. The birth of a transgender is dreadful not only for the child but also for their parents. The pain of living in the wrong physique and treated as second class victimized citizen is outrageous and fully harboured with vicious baseless negative scruples. For so long, social exclusion had perpetuated inequality and deprivation experiencing ingrained malign stigma and besieged victims of crime or violence across their life spans. They are pushed into the murky way of life with a source of eternal disgust, bereft sexual potency and perennial fear. Although they are highly visible but very little is known about them. The common public needs to comprehend the ravaged arrogance on these insensitive souls and assist in integrating them into the mainstream by offering equal opportunity, treat with humanity and respect their dignity. Entrepreneurship in the current age is endorsing the gender fairness movement. Unstable careers and economic inadequacy had inclined one of the gender variant people called Transgender to become entrepreneurs. These tiny budding entrepreneurs resulted in economic transition by means of employment, free from the clutches of stereotype jobs, raised standard of living and handful of financial empowerment. Besides all these inhibitions, they were able to witness a platform for skill set development that ignited them to enter into entrepreneurial domain. This paper epitomizes skill sets involved in trans-entrepreneurs of Thoothukudi Municipal Corporation of Tamil Nadu State and is a groundbreaking determination to sightsee various skills incorporated and the impact on entrepreneurship.
DETERMINANTS AFFECTING THE USER'S INTENTION TO USE MOBILE BANKING APPLICATIONSIAEME Publication
The banking and financial services industries are experiencing increased technology penetration. Among them, the banking industry has made technological advancements to better serve the general populace. The economy focused on transforming the banking sector's system into a cashless, paperless, and faceless one. The researcher wants to evaluate the user's intention for utilising a mobile banking application. The study also examines the variables affecting the user's behaviour intention when selecting specific applications for financial transactions. The researcher employed a well-structured questionnaire and a descriptive study methodology to gather the respondents' primary data utilising the snowball sampling technique. The study includes variables like performance expectations, effort expectations, social impact, enabling circumstances, and perceived risk. Each of the aforementioned variables has a major impact on how users utilise mobile banking applications. The outcome will assist the service provider in comprehending the user's history with mobile banking applications.
ANALYSE THE USER PREDILECTION ON GPAY AND PHONEPE FOR DIGITAL TRANSACTIONSIAEME Publication
Technology upgradation in banking sector took the economy to view that payment mode towards online transactions using mobile applications. This system enabled connectivity between banks, Merchant and user in a convenient mode. there are various applications used for online transactions such as Google pay, Paytm, freecharge, mobikiwi, oxygen, phonepe and so on and it also includes mobile banking applications. The study aimed at evaluating the predilection of the user in adopting digital transaction. The study is descriptive in nature. The researcher used random sample techniques to collect the data. The findings reveal that mobile applications differ with the quality of service rendered by Gpay and Phonepe. The researcher suggest the Phonepe application should focus on implementing the application should be user friendly interface and Gpay on motivating the users to feel the importance of request for money and modes of payments in the application.
VOICE BASED ATM FOR VISUALLY IMPAIRED USING ARDUINOIAEME Publication
The prototype of a voice-based ATM for visually impaired using Arduino is to help people who are blind. This uses RFID cards which contain users fingerprint encrypted on it and interacts with the users through voice commands. ATM operates when sensor detects the presence of one person in the cabin. After scanning the RFID card, it will ask to select the mode like –normal or blind. User can select the respective mode through voice input, if blind mode is selected the balance check or cash withdraw can be done through voice input. Normal mode procedure is same as the existing ATM.
IMPACT OF EMOTIONAL INTELLIGENCE ON HUMAN RESOURCE MANAGEMENT PRACTICES AMONG...IAEME Publication
There is increasing acceptability of emotional intelligence as a major factor in personality assessment and effective human resource management. Emotional intelligence as the ability to build capacity, empathize, co-operate, motivate and develop others cannot be divorced from both effective performance and human resource management systems. The human person is crucial in defining organizational leadership and fortunes in terms of challenges and opportunities and walking across both multinational and bilateral relationships. The growing complexity of the business world requires a great deal of self-confidence, integrity, communication, conflict and diversity management to keep the global enterprise within the paths of productivity and sustainability. Using the exploratory research design and 255 participants the result of this original study indicates strong positive correlation between emotional intelligence and effective human resource management. The paper offers suggestions on further studies between emotional intelligence and human capital development and recommends for conflict management as an integral part of effective human resource management.
VISUALISING AGING PARENTS & THEIR CLOSE CARERS LIFE JOURNEY IN AGING ECONOMYIAEME Publication
Our life journey, in general, is closely defined by the way we understand the meaning of why we coexist and deal with its challenges. As we develop the "inspiration economy", we could say that nearly all of the challenges we have faced are opportunities that help us to discover the rest of our journey. In this note paper, we explore how being faced with the opportunity of being a close carer for an aging parent with dementia brought intangible discoveries that changed our insight of the meaning of the rest of our life journey.
A STUDY ON THE IMPACT OF ORGANIZATIONAL CULTURE ON THE EFFECTIVENESS OF PERFO...IAEME Publication
The main objective of this study is to analyze the impact of aspects of Organizational Culture on the Effectiveness of the Performance Management System (PMS) in the Health Care Organization at Thanjavur. Organizational Culture and PMS play a crucial role in present-day organizations in achieving their objectives. PMS needs employees’ cooperation to achieve its intended objectives. Employees' cooperation depends upon the organization’s culture. The present study uses exploratory research to examine the relationship between the Organization's culture and the Effectiveness of the Performance Management System. The study uses a Structured Questionnaire to collect the primary data. For this study, Thirty-six non-clinical employees were selected from twelve randomly selected Health Care organizations at Thanjavur. Thirty-two fully completed questionnaires were received.
Living in 21st century in itself reminds all of us the necessity of police and its administration. As more and more we are entering into the modern society and culture, the more we require the services of the so called ‘Khaki Worthy’ men i.e., the police personnel. Whether we talk of Indian police or the other nation’s police, they all have the same recognition as they have in India. But as already mentioned, their services and requirements are different after the like 26th November, 2008 incidents, where they without saving their own lives has sacrificed themselves without any hitch and without caring about their respective family members and wards. In other words, they are like our heroes and mentors who can guide us from the darkness of fear, militancy, corruption and other dark sides of life and so on. Now the question arises, if Gandhi would have been alive today, what would have been his reaction/opinion to the police and its functioning? Would he have some thing different in his mind now what he had been in his mind before the partition or would he be going to start some Satyagraha in the form of some improvement in the functioning of the police administration? Really these questions or rather night mares can come to any one’s mind, when there is too much confusion is prevailing in our minds, when there is too much corruption in the society and when the polices working is also in the questioning because of one or the other case throughout the India. It is matter of great concern that we have to thing over our administration and our practical approach because the police personals are also like us, they are part and parcel of our society and among one of us, so why we all are pin pointing towards them.
A STUDY ON TALENT MANAGEMENT AND ITS IMPACT ON EMPLOYEE RETENTION IN SELECTED...IAEME Publication
The goal of this study was to see how talent management affected employee retention in the selected IT organizations in Chennai. The fundamental issue was the difficulty to attract, hire, and retain talented personnel who perform well and the gap between supply and demand of talent acquisition and retaining them within the firms. The study's main goals were to determine the impact of talent management on employee retention in IT companies in Chennai, investigate talent management strategies that IT companies could use to improve talent acquisition, performance management, career planning and formulate retention strategies that the IT firms could use. The respondents were given a structured close-ended questionnaire with the 5 Point Likert Scale as part of the study's quantitative research design. The target population consisted of 289 IT professionals. The questionnaires were distributed and collected by the researcher directly. The Statistical Package for Social Sciences (SPSS) was used to collect and analyse the questionnaire responses. Hypotheses that were formulated for the various areas of the study were tested using a variety of statistical tests. The key findings of the study suggested that talent management had an impact on employee retention. The studies also found that there is a clear link between the implementation of talent management and retention measures. Management should provide enough training and development for employees, clarify job responsibilities, provide adequate remuneration packages, and recognise employees for exceptional performance.
ATTRITION IN THE IT INDUSTRY DURING COVID-19 PANDEMIC: LINKING EMOTIONAL INTE...IAEME Publication
Globally, Millions of dollars were spent by the organizations for employing skilled Information Technology (IT) professionals. It is costly to replace unskilled employees with IT professionals possessing technical skills and competencies that aid in interconnecting the business processes. The organization’s employment tactics were forced to alter by globalization along with technological innovations as they consistently diminish to remain lean, outsource to concentrate on core competencies along with restructuring/reallocate personnel to gather efficiency. As other jobs, organizations or professions have become reasonably more appropriate in a shifting employment landscape, the above alterations trigger both involuntary as well as voluntary turnover. The employee view on jobs is also afflicted by the COVID-19 pandemic along with the employee-driven labour market. So, having effective strategies is necessary to tackle the withdrawal rate of employees. By associating Emotional Intelligence (EI) along with Talent Management (TM) in the IT industry, the rise in attrition rate was analyzed in this study. Only 303 respondents were collected out of 350 participants to whom questionnaires were distributed. From the employees of IT organizations located in Bangalore (India), the data were congregated. A simple random sampling methodology was employed to congregate data as of the respondents. Generating the hypothesis along with testing is eventuated. The effect of EI and TM along with regression analysis between TM and EI was analyzed. The outcomes indicated that employee and Organizational Performance (OP) were elevated by effective EI along with TM.
INFLUENCE OF TALENT MANAGEMENT PRACTICES ON ORGANIZATIONAL PERFORMANCE A STUD...IAEME Publication
By implementing talent management strategy, organizations would have the option to retain their skilled professionals while additionally working on their overall performance. It is the course of appropriately utilizing the ideal individuals, setting them up for future top positions, exploring and dealing with their performance, and holding them back from leaving the organization. It is employee performance that determines the success of every organization. The firm quickly obtains an upper hand over its rivals in the event that its employees having particular skills that cannot be duplicated by the competitors. Thus, firms are centred on creating successful talent management practices and processes to deal with the unique human resources. Firms are additionally endeavouring to keep their top/key staff since on the off chance that they leave; the whole store of information leaves the firm's hands. The study's objective was to determine the impact of talent management on organizational performance among the selected IT organizations in Chennai. The study recommends that talent management limitedly affects performance. On the off chance that this talent is appropriately management and implemented properly, organizations might benefit as much as possible from their maintained assets to support development and productivity, both monetarily and non-monetarily.
A STUDY OF VARIOUS TYPES OF LOANS OF SELECTED PUBLIC AND PRIVATE SECTOR BANKS...IAEME Publication
Banking regulations act of India, 1949 defines banking as “acceptance of deposits for the purpose of lending or investment from the public, repayment on demand or otherwise and withdrawable through cheques, drafts order or otherwise”, the major participants of the Indian financial system are commercial banks, the financial institution encompassing term lending institutions. Investments institutions, specialized financial institution and the state level development banks, non banking financial companies (NBFC) and other market intermediaries such has the stock brokers and money lenders are among the oldest of the certain variants of NBFC and the oldest market participants. The asset quality of banks is one of the most important indicators of their financial health. The Indian banking sector has been facing severe problems of increasing Non- Performing Assets (NPAs). The NPAs growth directly and indirectly affects the quality of assets and profitability of banks. It also shows the efficiency of banks credit risk management and the recovery effectiveness. NPA do not generate any income, whereas, the bank is required to make provisions for such as assets that why is a double edge weapon. This paper outlines the concept of quality of bank loans of different types like Housing, Agriculture and MSME loans in state Haryana of selected public and private sector banks. This study is highlighting problems associated with the role of commercial bank in financing Small and Medium Scale Enterprises (SME). The overall objective of the research was to assess the effect of the financing provisions existing for the setting up and operations of MSMEs in the country and to generate recommendations for more robust financing mechanisms for successful operation of the MSMEs, in turn understanding the impact of MSME loans on financial institutions due to NPA. There are many research conducted on the topic of Non- Performing Assets (NPA) Management, concerning particular bank, comparative study of public and private banks etc. In this paper the researcher is considering the aggregate data of selected public sector and private sector banks and attempts to compare the NPA of Housing, Agriculture and MSME loans in state Haryana of public and private sector banks. The tools used in the study are average and Anova test and variance. The findings reveal that NPA is common problem for both public and private sector banks and is associated with all types of loans either that is housing loans, agriculture loans and loans to SMES. NPAs of both public and private sector banks show the increasing trend. In 2010-11 GNPA of public and private sector were at same level it was 2% but after 2010-11 it increased in many fold and at present there is GNPA in some more than 15%. It shows the dark area of Indian banking sector.
EXPERIMENTAL STUDY OF MECHANICAL AND TRIBOLOGICAL RELATION OF NYLON/BaSO4 POL...IAEME Publication
An experiment conducted in this study found that BaSO4 changed Nylon 6's mechanical properties. By changing the weight ratios, BaSO4 was used to make Nylon 6. This Researcher looked into how hard Nylon-6/BaSO4 composites are and how well they wear. Experiments were done based on Taguchi design L9. Nylon-6/BaSO4 composites can be tested for their hardness number using a Rockwell hardness testing apparatus. On Nylon/BaSO4, the wear behavior was measured by a wear monitor, pinon-disc friction by varying reinforcement, sliding speed, and sliding distance, and the microstructure of the crack surfaces was observed by SEM. This study provides significant contributions to ultimate strength by increasing BaSO4 content up to 16% in the composites, and sliding speed contributes 72.45% to the wear rate
ROLE OF SOCIAL ENTREPRENEURSHIP IN RURAL DEVELOPMENT OF INDIA - PROBLEMS AND ...IAEME Publication
The majority of the population in India lives in villages. The village is the back bone of the country. Village or rural industries play an important role in the national economy, particularly in the rural development. Developing the rural economy is one of the key indicators towards a country’s success. Whether it be the need to look after the welfare of the farmers or invest in rural infrastructure, Governments have to ensure that rural development isn’t compromised. The economic development of our country largely depends on the progress of rural areas and the standard of living of rural masses. Village or rural industries play an important role in the national economy, particularly in the rural development. Rural entrepreneurship is based on stimulating local entrepreneurial talent and the subsequent growth of indigenous enterprises. It recognizes opportunity in the rural areas and accelerates a unique blend of resources either inside or outside of agriculture. Rural entrepreneurship brings an economic value to the rural sector by creating new methods of production, new markets, new products and generate employment opportunities thereby ensuring continuous rural development. Social Entrepreneurship has the direct and primary objective of serving the society along with the earning profits. So, social entrepreneurship is different from the economic entrepreneurship as its basic objective is not to earn profits but for providing innovative solutions to meet the society needs which are not taken care by majority of the entrepreneurs as they are in the business for profit making as a sole objective. So, the Social Entrepreneurs have the huge growth potential particularly in the developing countries like India where we have huge societal disparities in terms of the financial positions of the population. Still 22 percent of the Indian population is below the poverty line and also there is disparity among the rural & urban population in terms of families living under BPL. 25.7 percent of the rural population & 13.7 percent of the urban population is under BPL which clearly shows the disparity of the poor people in the rural and urban areas. The need to develop social entrepreneurship in agriculture is dictated by a large number of social problems. Such problems include low living standards, unemployment, and social tension. The reasons that led to the emergence of the practice of social entrepreneurship are the above factors. The research problem lays upon disclosing the importance of role of social entrepreneurship in rural development of India. The paper the tendencies of social entrepreneurship in India, to present successful examples of such business for providing recommendations how to improve situation in rural areas in terms of social entrepreneurship development. Indian government has made some steps towards development of social enterprises, social entrepreneurship, and social in- novation, but a lot remains to be improved.
OPTIMAL RECONFIGURATION OF POWER DISTRIBUTION RADIAL NETWORK USING HYBRID MET...IAEME Publication
Distribution system is a critical link between the electric power distributor and the consumers. Most of the distribution networks commonly used by the electric utility is the radial distribution network. However in this type of network, it has technical issues such as enormous power losses which affect the quality of the supply. Nowadays, the introduction of Distributed Generation (DG) units in the system help improve and support the voltage profile of the network as well as the performance of the system components through power loss mitigation. In this study network reconfiguration was done using two meta-heuristic algorithms Particle Swarm Optimization and Gravitational Search Algorithm (PSO-GSA) to enhance power quality and voltage profile in the system when simultaneously applied with the DG units. Backward/Forward Sweep Method was used in the load flow analysis and simulated using the MATLAB program. Five cases were considered in the Reconfiguration based on the contribution of DG units. The proposed method was tested using IEEE 33 bus system. Based on the results, there was a voltage profile improvement in the system from 0.9038 p.u. to 0.9594 p.u.. The integration of DG in the network also reduced power losses from 210.98 kW to 69.3963 kW. Simulated results are drawn to show the performance of each case.
APPLICATION OF FRUGAL APPROACH FOR PRODUCTIVITY IMPROVEMENT - A CASE STUDY OF...IAEME Publication
Manufacturing industries have witnessed an outburst in productivity. For productivity improvement manufacturing industries are taking various initiatives by using lean tools and techniques. However, in different manufacturing industries, frugal approach is applied in product design and services as a tool for improvement. Frugal approach contributed to prove less is more and seems indirectly contributing to improve productivity. Hence, there is need to understand status of frugal approach application in manufacturing industries. All manufacturing industries are trying hard and putting continuous efforts for competitive existence. For productivity improvements, manufacturing industries are coming up with different effective and efficient solutions in manufacturing processes and operations. To overcome current challenges, manufacturing industries have started using frugal approach in product design and services. For this study, methodology adopted with both primary and secondary sources of data. For primary source interview and observation technique is used and for secondary source review has done based on available literatures in website, printed magazines, manual etc. An attempt has made for understanding application of frugal approach with the study of manufacturing industry project. Manufacturing industry selected for this project study is Mahindra and Mahindra Ltd. This paper will help researcher to find the connections between the two concepts productivity improvement and frugal approach. This paper will help to understand significance of frugal approach for productivity improvement in manufacturing industry. This will also help to understand current scenario of frugal approach in manufacturing industry. In manufacturing industries various process are involved to deliver the final product. In the process of converting input in to output through manufacturing process productivity plays very critical role. Hence this study will help to evolve status of frugal approach in productivity improvement programme. The notion of frugal can be viewed as an approach towards productivity improvement in manufacturing industries.
A MULTIPLE – CHANNEL QUEUING MODELS ON FUZZY ENVIRONMENTIAEME Publication
In this paper, we investigated a queuing model of fuzzy environment-based a multiple channel queuing model (M/M/C) ( /FCFS) and study its performance under realistic conditions. It applies a nonagonal fuzzy number to analyse the relevant performance of a multiple channel queuing model (M/M/C) ( /FCFS). Based on the sub interval average ranking method for nonagonal fuzzy number, we convert fuzzy number to crisp one. Numerical results reveal that the efficiency of this method. Intuitively, the fuzzy environment adapts well to a multiple channel queuing models (M/M/C) ( /FCFS) are very well.
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Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women MagazineCIOWomenMagazine
In this article, we will dive into the extraordinary life of Ellen Burstyn, where the curtains rise on a story that's far more attractive than any script.
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https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
During the budget session of 2024-25, the finance minister, Nirmala Sitharaman, introduced the “solar Rooftop scheme,” also known as “PM Surya Ghar Muft Bijli Yojana.” It is a subsidy offered to those who wish to put up solar panels in their homes using domestic power systems. Additionally, adopting photovoltaic technology at home allows you to lower your monthly electricity expenses. Today in this blog we will talk all about what is the PM Surya Ghar Muft Bijli Yojana. How does it work? Who is eligible for this yojana and all the other things related to this scheme?
The Most Inspiring Entrepreneurs to Follow in 2024.pdfthesiliconleaders
In a world where the potential of youth innovation remains vastly untouched, there emerges a guiding light in the form of Norm Goldstein, the Founder and CEO of EduNetwork Partners. His dedication to this cause has earned him recognition as a Congressional Leadership Award recipient.
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Virtual Leadership and the managing workIruniUshara1
Virtual leadership is a form of leadership in which teams are managed via a remote working environment.
Like traditional leadership roles, virtual leaders focus on motivating employees and helping teams accomplish their goals.
Virtual leadership focuses heavily on improving collaboration through communication, accountability, and transparency
Tired of chasing down expiring contracts and drowning in paperwork? Mastering contract management can significantly enhance your business efficiency and productivity. This guide unveils expert secrets to streamline your contract management process. Learn how to save time, minimize risk, and achieve effortless contract management.
2. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 -
6510(Online), Volume 4, Issue 4, July-August (2013)
66
1. INTRODUCTION
Globalization and the easy access to information and communication technologies allow
firmsto organize their activity and decide their business strategies in a global framework. One of the
most important decisions facing any business is the question of whether to produce some product or
to purchase it from an outside.
There are increasing signs that this accumulated wisdom might be inadequate in shaping
appropriate insights for contemporary practice. The traditional governance logic has been turned
upside down by utilizing other mechanisms, such as sourcing arrangements, strategic alliances, roles,
teams, processes, and informal relationships, as the primary vehicles through which business
executives orchestrate their organizational architectures.
Today's organization must grapple with the unrelenting challenges associated with: acquiring
current technical knowledge; attracting, retaining, motivating, and leveraging a workforce; distilling
the confusion amid a proliferation in products, services, and vendors; and, contracting and managing
a variety of relationships involved with selective outsourcing. Increasingly, the providers of products
and services are being viewed as both arms-length suppliers of cost-effective technology and as
vibrant business partners with an unlimited potential to enhance a firm's and business capabilities.
The decision to outsource or insource enterprise-wide activities related to the acquisition,
deployment, and management of organization represents one of the more complex choices facing a
firm's managers. On the one hand, insourcing requires management to commit significant resources
to a course of action, the effects of which may be costly to reverse, while forgoing numerous
advantages associated with the marketplace. On the other hand, insourcing may be required for a
firm to accumulate resources necessary to generate or maintain a competitive advantage.
While the increasing rapidity of technological change and the increasing dispersion of
knowledge suggest an increased role for outsourcing in the economy, the relationship between
governance choice and performance is dependent on the distribution of relevant capabilities and the
degree to which performance is driven by autonomous or systemic innovation.
Empirical evidence suggests that carefully crafted outsourcing strategies increase the overall
performance of the firm. Outsourcing is generally considered as a very powerful tool to cut costs and
improve performance. Through outsourcing, firms can take advantage of the best outside vendors
and restructure entrenched departments that are reluctant to change. Outsourcing can also help focus
on the core business.
In same time Insourcing is having long term impact on the organizational growth.US
president also realize this fact that insourcing is the path for sustainable growth of the country.
1.1 Statement & decisions are given below
“What has been almost entirely absent from this discussion about outsourcing is the converse
dimension of globalization. This process is called ‘insourcing, ’Insourcing is long team strategy for
an organization, US President has also said as following for the long team sustainable growth:
President Obama’s March 4 Press Conference & Memo
“We will stop outsourcing services that should be performed by the government, and open up the
contracting process to small businesses. We will end unnecessary no-bid and cost-plus contracts
that run up a bill that is paid by the American people. And we will strengthen oversight to maximize
transparency and accountability.”
“President Obama, March 4 Memo”
Presidential Memorandum says:
The March 4, 2009 Memorandum forces closer scrutiny in several areas:
• Save $40 Billion – by reducing contractor spending by 7%. Identification of wasteful,
ineffective, and inefficient programs
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• Increase Contracting Transparency; R
use of no-bid contracts and cost
– Strengthen contract management and review
– Closer oversight of all contract types, particularly sole
competitive contracts
2. DIFFERENT SOURCING METHOD
Whereas domestic service provisioning is typically assessed on the basis of infrastructure
leverage, domain expertise or process knowledge, offshore service provisioning is primarily assessed
on the cost basis for consistent quality of service, and capacit
Managing the complexities of the global delivery model requires a deep expertise in the local
environments and experience with cross
whether to outsource a project or leave
decision.
Insourcing – producing goods or services within an organization
Outsourcing – purchasing goods or services from outside vendors
Also called the “Make or Buy” decision
Decision Rule: Select the option that will provide the firm with the lowest cost,
the highest profit.
2.1 Decision Model
A decision model is a formal method of making a choice, often involving both
quantitative and qualitative analyses
Managers often use some variation of the
* Feedback at each Step
Step 1: Optain Information
Step 2: Make prediction about future cost
Step 3 : Choose an alternative
Step 4: Implement & take decision
Step 5: Evaluation Performance
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Increase Contracting Transparency; Reduce, by 10% (over FY08 baseline), combined
bid contracts and cost-based contracts on new contract actions
Strengthen contract management and review
Closer oversight of all contract types, particularly sole-source and other non
competitive contracts
DIFFERENT SOURCING METHOD
Whereas domestic service provisioning is typically assessed on the basis of infrastructure
leverage, domain expertise or process knowledge, offshore service provisioning is primarily assessed
on the cost basis for consistent quality of service, and capacity to leverage global resources.
Managing the complexities of the global delivery model requires a deep expertise in the local
environments and experience with cross-border business operation, making the evaluation of
whether to outsource a project or leave it in-house very different from a purely onshore sourcing
producing goods or services within an organization
purchasing goods or services from outside vendors
Also called the “Make or Buy” decision
ct the option that will provide the firm with the lowest cost,
A decision model is a formal method of making a choice, often involving both
quantitative and qualitative analyses
Managers often use some variation of the Five-Step Decision-Making Process
Feedback at each Step
Step 1: Optain Information
Step 2: Make prediction about future cost
Step 3 : Choose an alternative
Step 4: Implement & take decision
Step 5: Evaluation Performance
6502(Print), ISSN 0976 -
educe, by 10% (over FY08 baseline), combined
source and other non-
Whereas domestic service provisioning is typically assessed on the basis of infrastructure
leverage, domain expertise or process knowledge, offshore service provisioning is primarily assessed
y to leverage global resources.
Managing the complexities of the global delivery model requires a deep expertise in the local
border business operation, making the evaluation of
house very different from a purely onshore sourcing
ct the option that will provide the firm with the lowest cost, and therefore
A decision model is a formal method of making a choice, often involving both
Making Process
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2.2 Decision Process
Any decision made by organization must assess the technology & demand trends of the
market & business in point of view of competitors,
requirements with congruency of long term planning must be followed. The flows of information for
decision maker are given below:
Decision hierarchy
2.3 Assessing Trends for the Decision on Sourcing
What is my relative position?
Organization must analyze the
business. Self-evaluation in terms of core focusing area for the organization is necessary.
Areas can be as following:
Cost
Quality
Delivery / Responsiveness
Technology
Cycle times
• Is this considered a core/critical current or future competency?
Decision maker must see the organization point of view regarding decision factor in terms of
focusing for current or future competency building.
• If behind, can we catch
The decision need to revolve around the fact of criticality of the decision to be made. How the
outsourcing or insourcing decision will impact
2.4 Strategy Alignment through Business Planning
All the major operations of the organization need to have alignments for smooth & beneficial
decision making. Any decision of Outsource or insource must be not in
operation of the organization.
Assesment of Technology & Demand Trends
Assesment of Strategic allignment & core
competencies
Conduct Total Cost Analysis of
Insourcing/Outsourcing Alternatives
Consider the" Big Picture" and Reach Decision
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Any decision made by organization must assess the technology & demand trends of the
market & business in point of view of competitors, competency cost etc. Alignment of the company
requirements with congruency of long term planning must be followed. The flows of information for
for the Decision on Sourcing
relative position?
Organization must analyze the self-position& critical factors for the current position in the
in terms of core focusing area for the organization is necessary.
Responsiveness
Is this considered a core/critical current or future competency?
Decision maker must see the organization point of view regarding decision factor in terms of
focusing for current or future competency building.
d, can we catch-up / surpass?
The decision need to revolve around the fact of criticality of the decision to be made. How the
outsourcing or insourcing decision will impact
Alignment through Business Planning
All the major operations of the organization need to have alignments for smooth & beneficial
decision making. Any decision of Outsource or insource must be not in contradiction of any
Assesment of Technology & Demand Trends
Assesment of Strategic allignment & core
Conduct Total Cost Analysis of
Insourcing/Outsourcing Alternatives
Consider the" Big Picture" and Reach Decision
6502(Print), ISSN 0976 -
Any decision made by organization must assess the technology & demand trends of the
competency cost etc. Alignment of the company
requirements with congruency of long term planning must be followed. The flows of information for
& critical factors for the current position in the
in terms of core focusing area for the organization is necessary.
Is this considered a core/critical current or future competency?
Decision maker must see the organization point of view regarding decision factor in terms of
The decision need to revolve around the fact of criticality of the decision to be made. How the
All the major operations of the organization need to have alignments for smooth & beneficial
ontradiction of any
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2.5 Information Relevance in Decision Making
Relevant Information has two characteristics:
It occurs in the future
It differs among the alternative courses of action
Relevant Costs – expected future costs
Relevant Revenues – expected future revenues
Type of information
Quantitative factors are outcomes that can be measured in numerical terms
Qualitative factors are outcomes that are difficult to measure accurately in numerical
terms, such as satisfaction
Additional Cost
Are just as important as quantitative factors even though they are difficult to measure
Incremental Cost – the additional total cost incurred for an activity
Differential Cost – the difference in total cost between two alternatives
Incremental Revenue – the additional total revenue from an activity
Differential Revenue – the difference in total revenue between two alternatives
3. OUTSOURCING
The guiding principle of outsourcing has been the transfer of a process or function, that is
typically not a core competence of an enterprise, to an organization that has expertise in that area,
allowing the enterprise to effectively utilize its resources in its core areas of business.
3.1 This principle has dual objectives
• Save on cost of operation by acquiring services from a team more productive that
the internal resources (based on their expertise, or their ability to leverage
infrastructure across multiple clients); and
• Improve quality and value of operation by acquiring services from an
organization with best practices in managing that business activity.
Any outsourcing contract will ultimately be about either or both of these two objectives.
In the absence of any of these characteristics, outsourcing can only be more expensive and
less valuable than an internal operation. Furthermore, making improvements in existing processes,
whether incremental or transformational, creates process stress that can be risky for the enterprise.
Since each of these characteristics require large investments in time and resources, it is not
surprising that, over the last two years, many seemingly well-structured outsourcing deals have
failed to meet expectations.
Strategic Business Unit/Product Manufacturing/Operations
Technology Procurement
Alignment within all 4
units
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3.2 Outsourcing Decision- Full / Partial
If the sourcing decision is in favor of Outsourcing, then also the decision must by regarding
Full operation or partial operations need to outsource. The decision maker need to decide the part or
area need to be outsource to be more effective in terms of efficiency, cost & competency.
Decision on the factors like:
1. Products
• Technology
• Manufacturing
2. Processes
• Design Development
• Process Installation
• Equipment Service
• Maintenance
3.3Factors Supporting Outsourcing
• Supplier has specialized know-how: Expert Vendors are available. Better output can
be generatedin more cost effective ways.
• Cost considerations favor supplier: Cost is less in comparison of insourcing by
organization in teams of cost incur to build that competency.
• Firm lacks ability to build item: Organization is not having competency.
• Small volume requirements: Small amount requirement. So it will be not cost
effective if organization invests resources to build-in.
• Firm's capacity constraints: Firms are not having capability to build-in.
• Desire not to add workforce: Employee numbers can be constrain.
• Uncertain volume requirements: Requirements are not fixed; organizations are
having risk to go into production in-house.
• Routine item available from many sources: Easily available venders in market so
easy & comfortable to produce in-house.
• Building requires high capital startup costs: Startup cost to in-house build in very
high compare to outsource.
3.3.1 Advantages
These are the some of the factors which are favorable for the Outsourcing as following:
Greater flexibility
Lower investment risk
Improved cash flow
Lower potential labor costs
3.3.2 Disadvantages
These are the some of the factors which are unfavorable for the Outsourcing as following:
Greater possibility of choosing wrong suppliers/distributors
Loss of control over processes
Potential for losing “core supportive” activities
Long lead-times
“Hollowing out”
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India is biggest outsourcing destination in the world and every company in top 10 have a
presence in India – However, what is interesting to see would be how many India-bred companies
are actually in the list.
Infosys Technologies, the iconic software company ranks 2nd in the list of World’s best
Outsourcing companies. The top position is taken by Accenture. In the top 10 rankings there are 2
other India-bred companies – Wipro (4th) and TCS (7th).
4. INSOURCING
Generally speaking, the opposite of outsourcing is insourcing. When a business delegates
jobs to another entity, which is domestic yet not a part of the organization, it is defined as insourcing.
The in-house entity will generally possess a dedicated panel who will be expert in providing the
requisite services. Sometimes organizations choose insourcing because it permits them to preserve
more control. Insourcing can also be defined as transferring work from one organization to another
organization which is situated within the similar country and not outside the country. Insourcing can
also denote an organization edifying an innovative business centre or skill which would focus in a
particular service or product. The trend towards insourcing has increased since the year 2006.
Organizations involved in production generally choose for insourcing in order to reduce the
expenditure of labor and taxes amongst others.What is best for an organization?
If the business has a number of non-core procedures which are taking a lot of time, work, and
resources to perform domestically, then it would be sensible to outsource these non-core tasks. Thus,
in that situation outsourcing would help to save time, manpower, and effort, and would also help
ensure faster times. .
If proficient services are required in areas which do not fall under the core proficiency, then
outsourcing will be a good alternative as one can get easy access to skill services. For dropping costs
and quicker turn around, outsourcing is again a fine option.
If the job involves manufacture, then it would probably make more sense for the organization to
select insourcing, as one can save on transportation expenses and have improved control over the
project.
4.1 Factors Supporting Insourcing
• Favorable cost considerations: Organization finds the cost analysis between make vs
Buy in favor of Make
• Desire to integrate operations: Processes or operations are the integrated part of the
system which can not be work or effectively managed in isolation
• Use available capacity to absorb fixed overhead:Company had already invested in
organization but optimum utilization is missing. Organization can take decision to build
for increasing utility & cover the fixed cost.
• Control over production and quality:For better quality & production control, the
operation must be in-house
• Design secrecy required:The confidential or the secrecy need to be maintained, then
organization need to have insourcing
• Lack of reliable suppliers: Lack of supplies in terms of quality & commitment required
to supply. Organizations have to take decision to produce in-house
• Technical items related to core competence: Organization have to build long term Core
Competencies for the organization.
• Strategic item or technology behind: Process or product decision on in-house or
outsource depends on strategic decision for the organization or its evolve high end
technology related
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4.1.1.Advantages
These are the some of the factors which are favorable for the Insourcing as following:
Higher degree of control over inputs
Increases visibility over the process
Economies of scale and scope
4.1.2 Disadvantages
These are the some of the factors which are unfavorable for the Insourcing as following:
Requires high volumes
High investment
Dedicated equipment has limited uses
Problems with supply chain integration
4.2 Core Competence
• A firm's long run strategic ability to build a dominant set of technologies and/or skills
which enable the firm to adapt to quickly changing marketplace opportunities.
• A skill, process, or resource that distinguishes a company and makes them "stand out
from the rest".
• The collective learning in the organization, especially how to coordinate diverse
production skills and integrate multiple streams of technologies.” (Prahalad and
Hamel 1994)
4.3Implication of Insourcing
4.3.1 Costs - Insourcing Process
1 Incremental fixed costs
Equipment investment
Factory overhead
Managerial costs
Purchasing costs
Inventory carrying costs
Costs of capital & taxes
Special personnel
4.3.2 Finding True In-house Costs is not easy
Costs of Overhead
Costs of Quality
Operational Costs
Capital Costs
5 .DECISION FOR OUTSOURCING Vs INSOURCING
Most organizations choose outsourcing because outsourcing offers a lot of advantages. When
organizations outsource to countries like India, they benefit from lower costs and high-quality
services. Moreover organizations can concentrate more on core functions once they outsource their
non-core functions. Outsourcing can also help organizations make better use of their resources, time
and infrastructure.
In outsourcing, the outsourcer and the outsourcing partner have a greater relationship when
compared to the relationship between a buyer and a seller. In outsourcing, the outsourcer trusts the
outsourcing partner with vital information. Outsourcing is no longer confined to the outsourcing of
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IT services. Outsourcers in the US and UK now outsource financial services, engineering services,
creative services, data entry services and much more.
Most organizations are opting to outsource because outsourcing enables organizations to
access intellectual capital, focus on core competencies, shorten the delivery cycle time and reduce
costs significantly. Organizations feel outsourcing is an effective business strategy to help improve
their business.
If you require expertise services in areas which do not fall under your core competency, then
outsourcing will be a good option as you can get access to expertise services. For reducing costs and
making faster deliverables, outsourcing is again a good option.
If your work involves production, then it would be more ideal for your organization to opt for
insourcing, as you can save on transportation costs and exercise a better control over your project.
6. FINDINGS & CONCLUSION
Following are major findings:
• Sourcing decisions are based on organization’s decision policies, objectives, strategically
goals, situation in the business, priorities etc
• No perfect method to selecting sourcing (Outsourcing Vs Insourcing), its situationalbased
• Both the sourcing technique have its own advantages &disadvantages, decision maker needs
to be analysis pros & cons
• For Few situations Outsourcing can be best & for few insourcing
• In some decisions, mix decision of outsourcing as well as insourcing can be beneficial
• Even a country like India is already a attractive market to do outsourcing business, need to
balance the long term sustainable growth by developing insourcing competencies in few
sectors like manufacturing, medicine, research etc.
Decision for organization of outsourcing or insourcing depends on factors like organizational goals,
strategies. Core competencies, type of industry, type of business they are in.
Decision can be made with following points must be taken care as following:
The insourcing/outsourcing decision requires a careful understanding of internal core
competencies, both currently and in the future
The decision involves considering total cost, as well as quality, technology, and customer
requirements
Insourcing/outsourcing decisions must be aligned with other functional strategies
All projects involve risk, some less and somemore. Each of the “acceptable” alternativesshould be
the object of a detailed risk andmitigation review. You may discover, forexample, that the “build”
alternative can bebroken into smaller phases that will both reducethe risk of a big bang
implementation, and givethe organization time to adapt to the new, moreefficient business processes.
Organizations can even outsource and insource simultaneously. By outsourcing and insourcing
concurrently, one can obtain the best of both options and the business can profoundly benefit.
FUTURE SCOPE
Research had reviewed a number of issues and looked at the opportunities and challenges for
outsourcing & insourcing. Research had not able to review all the aspect of outsourcing & insourcing
sector & process wise. The study can further elaborate on technical depth, focus & experience of the
organizations after outsourcing or insourcing. Results of the sourcing decision can be further taken as
the research path.
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REFERENCE
1. A. Pelegrína, and C. Bolancéb (2000), “International industry migration and firm
characteristics: some evidence from the analysis of firm data” PP-32-35.
2. Kenneth S Ledeen, (2001), “A Decision Paradigm For Information technology Applications
3. Matthew J. Slaughter (1997), “Insourcing Jobs Making the Global Economy Work for
America”.
4. NEOIT: Offshore Insights, “Onshore Versus Offshore Outsourcing: Significant differences
require unique approaches” White Paper: Oct 2003: Issue 13.
5. Dr. Dattatry Ramchandra Mane, “To Study the Impact of Multi-Vendor Outsourcing on the
Performance of the Suppliers and Rejection Levels”, International Journal of Management
(IJM), Volume 4, Issue 2, 2013, pp. 273 - 284, ISSN Print: 0976-6502, ISSN Online:
0976-6510.
6. Md Yousuf Chowtupalli and S. Abdul Rafi, “Achieving Sustainable Competitive Advantage
Through Resource Configuration and Organizational Identity: An Empirical Study”,
International Journal of Management (IJM), Volume 4, Issue 3, 2013, pp. 111 - 124,
ISSN Print: 0976-6502, ISSN Online: 0976-6510.
7. Dr.V.Antony Joe Raja, “Emerging Trends in Human Resource Management with Special
Focus on Outsourcing in Various Sectors”, International Journal of Management (IJM),
Volume 3, Issue 1, 2012, pp. 197 - 204, ISSN Print: 0976-6502, ISSN Online: 0976-6510.
Websites:
1. http://www.outsource2india.com
2. http://www.neoIT.com
3. http://www.nasscom.in
4. http://insidersbusinessjournal.com
5. http://www.flexserv.ca/WhitePaper-Flexsourcing.pdf
6. http://www.outsourcingleadership.com/knowledgebase/whitepapers
7. http://www.qams.ca