The online world is full of verified and dubious resources about all types of outsourcing. One of these sources is YouTube where millions of videos are viewed each day. For top managers and small business owners who are new to offshore outsourcing, here are five educational videos you should watch and learn from.
Outsourcing and Offshoring Sectors: Challenges and Opportunities
Uploaded by Plunkett Research, Ltd.
Jack W. Plunkett, CEO and Publisher of Plunkett Research, Ltd., discusses offshoring and outsourcing, and the many challenges that the industry faces today. He sees language and communication barriers and time zone differences may potentially lead companies to choose nearshoring or reshoring instead.
However, the industry is here to stay and it will continue to thrive. It's important for businesses to be competitive. And, one of the main reasons contributing to the rapid growth of offshoring is because of the lower labor, production and distribution costs involved. All these help businesses become more competitive in a global economy.
Outsourcing Decision Making Matrix: Analyzing the Make-or-Buy Decision
Uploaded by Brighton School of Business and Management
When considering outsourcing, many organizations start with the same question: Which activities should we outsource, and which tasks should we do in-house? This decision matrix provided by the Brighton School of Business and Management will guide you through the steps in making the right decision.
What the Candidates Won't Explain about Outsourcing
Uploaded by Cato Institute
The video description says it all. Contrary to what the media tells you, businesses outsource primarily because they want to remain competitive in an increasingly global economy. It's not about greed or increasing profits by cutting costs. It's about pushing down the production costs, so the products or services won't be too expensive for customers.
Businesses are concerned about the entire cost of production, from product conception to consumption. Foreign wages and standards are but a few of the numerous considerations that factor into the ultimate investment and production decision. Those critical considerations include: the quality and skills of the work force; access to ports, rail, and other infrastructure; proximity of production location to the next phase in the supply chain or to the final market; time-to-market; the size of nearby markets; the overall economic environment in the host country or region; the political climate; the risk of asset expropriation; the regulatory environment; taxes; and the dependability of the rule of law, to name some.
Lessons from IT Leaders: IT Outsourcing is not about Cost Savings
Uploaded by Outsourcing Institute
This recorded webinar is a treasure trove of information for those interested in outsourcing. Cost reduction is not the only reason why businesses choose to outsource. This webinar features esteemed guests from three multinational companies. They talked about innovation, incentives, ownership of intellectual property, digital labor, and automation, to name a few.
Richard Freeman: You Can't Outsource Responsibility
Uploaded by CORE Team
Richard Freeman is a professor of Economics at Harvard University and he works for the National Bureau of Economic Research. He discusses outsourcing and the boundaries that changed because of it. He tells The CORE Project (http://core-econ.org) that, while you can outsource production, you cannot outsource responsibility.
He provided examples in China and Bangladesh where sweatshops proliferate and multinational companies tend to wash their hands of the responsibility to make their laborers' work environment safe and comfortable.
A more recent news report in Cambodia represents the moral dilemma that Prof. Freeman talks about. When something bad happens to workers in other countries, who is responsible for their well-being? Is it only the subcontractor and not the companies that outsource? Are fashion companies like Nygard free of any responsibility to protect their foreign workers' welfare?