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Outsourcing and Its Effect on US Economy

Moreover, the market for countries with less tradition in this sector, such as the Philippines, Hungary, and Mexico is now also open.Theoretically, it offers high quality at a low price. But that does not mean the absence of risk or of hot spots when talking about the concept. How effective outsourcing really is? To what extent a company entrusted with parts of other organization activities sets the same goals and objectives as the latter? How strong the employees of outsourcing companies identify with the values and scope of the company they offer their services to? All these open questions remain controversial and will be long discussed.A textbook definition may look outsourcing as the delegation of tasks or objectives to certain organizational segments belonging to foreign entities, which offer an excellent quality, better prices and have strong expertise in certain fields (Levine).Another definition shows that outsourcing is a strategy applied by a company to entrust major functions to external providers specialized in various areas, making them valued business partners (Bank of International Settlements). In short: outsourcing works faster, better and cheaper. Let us analyze the three elements.Why faster? Because time is money (and the scope of every company is to make profits as fast as possible), because they are professionals with solid experience capable to complete projects in an excellent time sequence, they already have the necessary resources and is very easy to mobilize them in a short period (it is a fact that every outsourcing company has some main interest areas).Why better? As stated above, they are professionals in the fields of contracting. Most likely, they had many similar projects and know exactly what to do so their work results to be immediately noticed.

Outsourcing and Its Effect on US Economy