Business Outsourcing

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Section 3: Market Failures and Externalities

Ved Brian Cox

JAVA PROGRAMMING

Ved Andres Franklin Farinango Aguas

Knowledge Base (Mohammed Fadil)

Ved Mohammed Fadil

PMI Chart

Ved Beesme Villaburgos

Business Outsourcing

Timeline

2008 - Outsourcing revieves 298.5 billion globally

1990's - Outsourcing widely used due to internet being used a lot

1985 - internet was first used by researchers and developers

1980's - Accounting, payroll, HR, and IT was outsourced

1970's - Most outsourced work was manufacturing

1970's - The invention of the computers lead to more opportunities in work

Trends

Storage clouds used more often

Anytime contace through social media and call centres

Communication rarely done in person

Costs

Many hidden costs

Different currencies may affect contracts

Cheaper in general

Disadvantages

materials and distribution are more expensive outside the country

Quality is lost if not careful

North Ameria looses jobs

Advantages

You can get the best people for the job from all over the world

Lot Cheaper

More Expirenced workers