Its no more about your 9 to 9 local shop... The "24 Hour Clock " is here.
It is important for businesses to remain competitive in the global economy, and the fact that less expensive skill sources exist, means you need to exploit them, Outsourcing is the Golden Key to the modern world where growth and comparative competitive advantage is the Mantra.
Existence of a less-costly means of production; This suggets that value associated with the factors of production has also fallen since its available cheaply somewhere else. Not just lower costs, Outsourcing has benefits for the economy whole economy: it is the Domestic Shareholders, Investors and the Consumers that reap the benefits. It not only reduces costs but can be adopted to avoid organizational problems that don't seem to be resolvable by internal re-organisation.
Existence of a less-costly means of production; This suggets that value associated with the factors of production has also fallen since its available cheaply somewhere else. Not just lower costs, Outsourcing has benefits for the economy whole economy: it is the Domestic Shareholders, Investors and the Consumers that reap the benefits. It not only reduces costs but can be adopted to avoid organizational problems that don't seem to be resolvable by internal re-organisation.
The Global Market is more free than ever before, with every country consolidating on its comparitive advantages. Money finds its own way, as a rule/law it will move towards the master where it is proves most effective and profitable.
Outsourcing does kill the low-skill domestic jobs but at the same time helps in creation of high-skill job market and thus leads the economy towards a specialized and high-skill human resource, assuming that the training and education system become more supportive to face this challenge.
Life is not fair, its survival of the fittest, the more you can adapt the better are you chances, Change is around the next bend and life is a spiral road.
Good one
ReplyDeleteThank you fariya.
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