Outsourcing Is Good For Your Business
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By :
Amit Kheterpal
Submitted
2008-10-19 05:05:47 |
We all live in an economy which is now global in nature. No longer are you able to do business in a silo. As a business owner you should also be on the look out for opportunities to cut costs.
One of the main opportunities in the recent times that has presented itself is the outsourcing of work. Now outsourcing of work was done earlier also but within the same country and for the reason of not cost alone but time and efficiency. Take that of outsourcing to a new level and on a global scale and you have companies located in the third world countries who are willing to do work at costs you could never dream of in the US.
You would argue as to why and how they can do it in such a low cost. In general also you would say that low cost means low quality. Well here is the counter point to that. The wage that you will pay to a worker in the country to which you outsourced will not be low. The only benefit is that since US dollar is more valuable than the currency of that country so it creates a benefit for that person. For example the rate of $5 and hour for some free lancing here would seem low here but convert that into say Indian rupees and that is about 200 rupees and hour at the exchange rate of 1 dollar is equal to 40 rupees.
200 rupees is a good amount of money to earn in an hour in a country like India which has people who earn about 10 rupees an hour. This is also to your benefit because for the same work to be done here in the US it would cost you much more and of course if your competitors are doing it then you are left with no choice but to do it.
The best thing about outsourcing is that you can go either route which is either you can open up your own subsidiary in the so called low wage countries or hire a firm to do the job. There are some benefits in each approach as well as negatives in each type of approach. To a large extent it will depend on your business model and how much effort you want to put in managing the offshore business.
In today's world if you are not outsourcing then you cannot survive for sure. |
Author Resource:-
The author writes about how good business card translation companies can help you survive in the global economy especially in a country like China. He thinks that it is necessary to have business card translation in chinese for doing business in China.
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