Today's escalating; competitive and demanding environments have forced companies to be more efficient, operate leaner and continuously innovate new procedures to keep ahead of competitors. Adding final consumer value to a product or service in the form of lower prices, quality and better service has become an essential requirement in the global marketplace. Corporations must adapt with increasing speed to market pressure and competitors' innovations. To survive in the 21st century, corporations are hurrying to:
1) search globally for opportunities and resources
2) focus on core competencies and mutually beneficial longer term relationships
3) outsource those activities that can be performed more quickly and at a lower cost by subcontractors
As more corporations expand their business globally, they are seeing more opportunities and an increased set of threats to the market. Threats like war, political revolutions, new currencies, and natural disasters can affect growth and political stability throughout the world, so in order to successfully compete in the international market, more companies are faced with the decision of relocating part of their operations offshore.
Outsourcing to stay competitive
Global outsourcing of products, services, and research and development is a trend that is becoming increasingly popular with many corporations. For the same services provided say in the United States, corporations are finding quality work in other countries for a fraction of the cost. The country currently at the forefront of this trend is India. An increasingly important player in the global economy, India continues to drive the social and capital markets that shape our world. The region's burgeoning population, for example, has a high proportion of educated workers who will have significant impact on important developments in many corporations. Beyond that, the mere size of this skilled workforce will have substantial buying power in tomorrow's economy.
Outsourcing to India has...