Outsourcing and the United States – Benefit or Not?
Outsourcing is the latest phenomena in today's world
The 5 W's of outsourcing are:
- Who can outsource?
- What can be outsourced?
- Why should it be outsourced?
- When do we have to outsource?
- Where do we outsource?
Virtually everyone can outsource it a small, medium or big business house. Anything related to web designing, web development, B2B, B2C to name a few functions that can be outsourced. While outsourcing, we generally get a competitive edge without investing in infrastructure. It evolves as the best logical option when we tend to loose focus on the main issues while getting tied down by the necessary minor business facts. Countries with a competitive advantage are the best outsourcing destinations.
The United States can really benefit from outsourcing as they have more opportunities than the rest of the developing and developed economies. The US economy is growing creating new jobs in its wake. According to the ITAA, IT jobs grow in the 2003 and still continue to grow at a rate of 3% since 2004 and expected to grow at the same pace till 2008. Outsourcing offers substantial gains to the US economy providing cheaper imports and stronger markets for exports. Beside offsetting the costs, lowers the inflation rates, increases production as well as lowers the interest rates. Corporate earnings and consumers have also benefited from offshore global outsourcing.
Outsourcing helps to improve the overall work productivity, reduce the operating costs, enhance the speed and quality of the services while establishing long term and strategic relationships with their new offshore business partners. United States of America is definitely benefiting form outsourcing. However every coin has two sides.