Outsourcing is an undertaking that every organization is looking into to remain competitive in market, profitable and acquire competitive advantage. However, before obtaining the advantages associated with it, there need to be a deep understanding of the entire issues. In this regard, this paper shall seek to give a detailed account of outsourcing for today’s’ business ventures.
The essential components of outsourcing shall be discussed includes: the process that is followed during the outsourcing with emphasis on the three phases that enable successful out sourcing.
Second, the paper shall discuss the benefits and pitfalls of outsourcing products and services. Additionally, the paper shall give a conclusion with insight about the future of the outsourcing practice. While at the same time, the author shall be able to give his view on the raging debate on offshore outsourcing which has been a major bone of contention among the business community and politicians in U.S.