OBHR 401 DAY 6 Flashcards
What is outsourcing?
the movement by which companies of their business processes/activities to third parties
ISSUES
- reliability
- maintenance issues
What is offshoring? AKA liquid workforce + talent on demand
the movement by a company of its business processes/activities from an originating country to another
Issues
- taxes
- labour problems
- countries have to be self-reliant
What is insourcing?
the development of business processes inside the organization that were done by third parties
What are quick sourcing and nearshoring?
proximity to markets, whether by third party vendor, the former, or firm owning and managing facility
Reasons for offshoring ?
- cost reduction
- growth strategy
- competitive pressure
- access to qualified personnel
- industry practice
- improved levels of service
- business process redesign
- changing the rules of the game
- increased speed to the market
- system redundancy
- access to new markets
What is relational outsourcing?
long term + all services (Marriage)
what is fractional?
long term + one services (side girlfriend)
what is serial?
short-term + all services (situation ship)
what is a transaction?
short term + one service (one night stand)
