what you do best and outsource the rest.”
the licit assenting involving an exchange of services and payments is
outsourcing. The strategic use of outside wherewithal to perform
activities conventionally managed by internal staff is outsourcing. It is a
proposition by which an organization contracts out major functions to
specialized and efficient service providers.
the term “outsourcing “dates back only to early 1980s, the concept isn’t
new. In the wake of traditions set by Adam Smith’s magnum opus “Wealth of
the Nations”, manufacturers had already started outsourcing the manufacture of
goods to countries with cheaper labour during the industrial revolution back in
predominantly outsource to curtail certain costs – such as “non- core” business
expenses, high taxes, high energy costs and production and labour costs.
the IT industry has existed since early 1980s in India, it was the early ‘90s
which substantiated the emanation of outsourcing. The cardinal reasons behind
the augmentation of the industry are the economic liberalization policies
embarked upon by the government and globalization.
to recent surveys, around 82 of the major US companies have said that India is
their first choice for outsourcing. With the development of the economy, the
number is expected to rise. Illustrious entrepreneurs like Bill Gates have
hailed India as an IT superpower with immense ingeniousness and competence.
Some of the considerable
segments and assignments that are outsourced by most companies to India are:
Apart from these, other
specialized jobs are also done according to the skill set and the type of
output the company is looking for.