The cheapest labor and resource prices are the main driving force that determines whether a company will outsource work.
Why company outsource their work?
In addition to giving clients the high-quality service they expect from their favorite brands, outsourcing gives you the time and resources you need to concentrate on other elements of your business. Despite all the benefits, outsourcing is commonly done to run a profitable business model.
What are the risks of outsourcing?
Formally speaking, there are four broad categories in which risks related to outsourcing often fall: loss of control, loss of innovation, loss of organizational trust, and higher-than-expected transaction costs.
Why is outsourcing difficult?
Intellectual properties, including corporate ideas and trade secrets, are subject to lose while outsourcing. The potential of a customer's data being compromised is another concern. A produced program or its rights could be lost if not handled properly.
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