The Benefits and Challenges of Opportunities An Annotated Bibliography

OUTSOURCING

Outsourcing: Challenges and Opportunities for the 21st Century

In basic terms, outsourcing has got to do with the assignment of certain functions to a third party. Over the last few decades, outsourcing has emerged as one of the most prominent trends in efforts to reign in the cost of doing business and promote efficiency. There is need to understand the challenges that businesses are likely to encounter, as well as the benefits they are likely to reap, in the 21st century in their attempts to outscore non-core functions.

Annotated Bibliography

Agburu, J.I., Anza, N.C., Iyortsuum, S.A. (2017). Effect of outsourcing strategies on the performance of small and medium scale enterprises (SMEs). Journal of Global Entrepreneurship Research, 7(26), 107-114.

Most of the available research on outsourcing appears to be largely focused on how outsourcing impacts the performance of large enterprises. Such enterprises could be inclusive of multinationals such as Apple Inc. The present research, however, focuses on the impact outsourcing has on SMEs. This is crucial owing to the fact that the outsourcing landscape is not discriminative. Both small and large enterprises can access the benefits of outsourcing non-core functions. This article will enable me to determine whether there are outsourcing strategies unique to SMEs, and the best way to deploy the said strategies.

Belwal, R., Singh, G. & Dixit, M. (2005). Outsourcing: A Seesaw Ride of Challenges and Opportunities. Skyline Business Journal, 2(1), 7-12.

This particular resource will offer context to the issue under consideration. Amongst other things, it will help in the assessment of how far we have come in as far as outsourcing is concerned. The article was written more than a decade ago. Thus, it highlights some of the concerns as well as opportunities that were most relevant at the time. In understanding the stated challenges, it will be possible to assess whether they have been addressed and if they are likely to trouble businesses going forward. The article will also be instrumental in efforts to assess whether outsourcing opportunities of the past two decades are still relevant in contemporary settings.

Babin, R., Bates, K. & Sohal, S. (2017). The role of trust in outsourcing: More important than the contract? Journal of Strategic Contracting and Negotiation, 3(1), 38-46.

In outsourcing circles, not much attention is apportioned to the relevance of trust in outsourcing efforts. As a matter of fact, firms happen to focus more on commercial contracts to secure their interest in outsourcing relationships. The present article seeks to emphasize the need for trust in what the authors refer to as global outsourcing undertakings. This article will be of great relevance in attempts to highlight an overlooked component of successful outsourcing relationships. Trust is a particularly important component in the development of long-term business relationships. It would be interesting to assess its application in outsourcing.

Dinu, A. (2015). The Risk and Benefits of Outsourcing. Knowledge Horizons – Economics, 7(2), 103-104.

There are numerous benefits that have been associated with outsourcing. Similarly, there are also a number of risks that the move to outsource presents. The author of the present resource seeks to assess both. This article will be instrumental in my efforts to highlight the specific challenges that businesses ought to be aware of in their efforts to outsource non-core functions. It will also come in handy as I seek to identify the present opportunities that firms could seek to exploit. Having been published recently, the article contains crucial information that could be applied in contemporary business settings.

Fisher, S.L., Wasserman, M.F., Wolf, P.P., Wears, K.H. (2008). Human resource issues in outsourcing: Integrating research and practice. Human Resource Management, 47(3), 501-523.

Few articles have attempted to assess the various human resource issues that businesses have to deal with in their efforts to outsource non-core functions. In the present article, the authors seek to develop an understanding of the impact an outsourcing strategy has on the human resource front. This will, thus, be an instrumental article in an attempt to chart the effect outsourcing has on organizational staffing strategy. It is important to note that one of the most critical organizational resources happens to be human resources. Thus, there is need for businesses to carefully assess the impact their strategic decisions have on this front. Findings will, hopefully, influence the manner in which this strategy is implemented going forward.

Gupta, R.S. (2017). Risk Management and Intellectual Property Protection in Outsourcing. Global Business Review, 19(2), 393-406.

One of the most prominent risks associated with outsourcing is loss of control. This is more so the case given that in outsourcing their non-core functions, businesses happen to lose control over the same. According to the authors of the present article, this happens to be one of the most significant tradeoffs that enterprises have to make in their pursuit of efficiency. The article focuses on possible loss of intellectual property as a consequence of outsourcing. To a large extent, the article will enable me to explore strategies that firms could use to address the challenge. This is more so the case given that intellectual property happens to be one of the most crucial assets for firms operating in the global arena today.

Iqbal, Z. & Dad, A.M. (2013). Outsourcing: A Review of Trends, Winners & Losers and Future Directions. International Journal of Business and Social Science, 4(8), 91- 107.

This happens to be one of the best resources that I came across in as far as the assessment of the future of outsourcing is concerned. In essence, the authors asses the most important trends that have been observed in the outsourcing realm over the last two decades. They also highlight the challenges that businesses have encountered and the benefits they have reaped. The authors largely rely on past studies that have been undertaken on this topic. The said resources are reliable – effectively promoting the credibility of findings in the present article. In making use of this resource, I will be seeking to understand past outsourcing trends so as to predict future trends and identify opportunities that businesses could seek to exploit.

Ishizaka, A., Bhattacharya, A., Gunasekaran, A., Dekkers, R. & Pereira, V. (2019). Outsourcing and offshoring decision making. International Journal of Production Research, 57(13), 4187-4193.

According to the authors of this particular article, outsourcing happens to be one of the most critical business decisions. This, as the authors further point out, is more so the case given the increasingly competitive, dynamic, and complex nature of global supply chains. It is, however, important to note that the authors are of the opinion that present research indicates that outsourcing could have varied outcomes for businesses. Possible outcomes that have been mentioned by the authors are inclusive of; no significant impact, moderated impact, mixed impact, negative impact, and positive impact. If businesses are to reap positive benefits of outsourcing, they should be aware of how outsourcing decisions should be formulated and implemented. Thus, the article will be instrumental in my assessment of the best practices in outsourcing decision-making.

Jones, W.O. (2009). Outsourcing in China: opportunities, challenges and lessons learned: INDUSTRY INSIGHT. Strategic Outsourcing: An International Journal, 2(2), 187-203.

China happens to be the preferred destination for most business entities seeking to outsource non-core functions and/or component production. This is particularly the case for firms in the technology industry. In addition to gaining access to cheap labor, such firms are able to also access highly-skilled personnel. The present research concerns itself with the experiences of businesses engaging in information technology outsourcing in China. More specifically, it highlights the challenges that have been encountered by the said firms, as well as the opportunities that exist in this realm. This particular resource will supplement insights gathered from Belwal, Singh and Dixit, as has been highlighted elsewhere in this annotation.

Pedregosa, C.S., Gonzalez-Zamora, M., Palacin-Sanchez, M. (2017). Outsource Services to Improve Financial Performance: Is There a Limit? Global Business Review, 19(1), 21-31.