Outsourcing and Offshoring

Outsourcing and Offshoring
Name
Institution Abstract
Venus Widgets plans to adopt the operation approach of outsourcing and offshoring to increase its operations within the international sphere. Due to the growing pressure to improve efficiency and reduce costs, outsourcing and offshoring practices are specifically focused on helping the company obtain particular products and services either from a third-party company or foreign countries in the global market. Both outsourcing and offshoring will enable Venus Widgets to save money and streamline its functions globally. The company will obtain goods and services at lower prices from other countries while at the same time maintaining the desired quality level by paying for what is precisely needed. In outsourcing and offshoring, companies do not incur high operation costs since the ventures and third-party units from which they obtain their goods and services from the global markets are run and operated independently. As a result, the company is provided with the optimum opportunity of saving money.
Key Words: Venus Widgets, Outsourcing, Offshoring, Global Markets, Save Money, Goods and Services
Outsourcing and Offshoring
Outsourcing
The strategy that can be implemented to help Venus Widgets streamline the company’s functions globally in regards to outsourcing is “Shared Service Capabilities (SSC).” The SSC promotes the separation of the operations in the subsidiary organizations (third-party units) from th…