Outsourcing of The Business Activity Samples †MyAssignmenthelp.com

Question: Discuss about the Outsourcing of The Business Activity. Answer: Introduction: The digital innovation in the global market creates the new value for the organization to outsource their business operation to the other company for completing the activities and get the desired output. The outsourcing program is utilized for saving the precious time of the enterprise which was previously used in the completing the business processes. The precious time can be used for other activities which help in improving the turnover of the enterprise (Kremic, 2013). The short and long term sustainability of the enterprise can be maintained by outsourcing the activities and maintaining good and healthy relationship with the third party. The cost associated with the project activity scheduled can be reduced to an high extent to complete the project under estimated budget. The research paper is designed to focus on the advantages and disadvantages of outsourcing business functions. Project Objective The project objective is to focus on the positive and negative aspect associated with the outsourcing of the business activity with the inclusion of third party in the working curriculum of the enterprise. The fundamentals of the outsourcing program helps in analysing the efficiency of the business operations which are undertaken for achieving the required output. The focus should be given on determining the difference in the turnover of the enterprise to analyse the benefit of using the outsourced program in the working environment of the firm. Project scope The in-scope activities which should be undertaken in completing the project are mentioned below: The difference in the turnover of the enterprise to analyse the benefit of using the outsourced program in the working environment of the firm (Krell,2014). The strategies for developing the outsourced program to the third party Determining the logical sequence of activities to be coordinated on the outsourced working program The recommendation of the customer to outsource the business activities to the third party The positive aspect of the outsourced program The negative aspect of the outsourced program Improving the in-house capability of the enterprise. Literature review The Outsourcing of the activities are undertaken to improve the performance of the business in regards to raising the satisfaction level of the associated customers which in turn helps in increasing the turnover of the company. The quality of the outcome can be improved with the inclusion of the third party but there is one major drawback of the outsourcing program that the loss of data can occur in the working process of the enterprise (Milan, 2010). The benefits of using the outsourcing program are that it is helpful in enhancing the business processes and the human resource skills for completing the business activity (Mirza, 2015). The globalization is the major factor responsible for outsourcing the business operation to the other companies. The sale of the product can be improved by utilizing the marketing strategies. The quality of the product can be optimized with the inclusion of outsourcing fundamental program. By analysing the literature review, we predict that the financia l growth of the company can be improved by reducing the amount of budget spent on carrying over the business operational procedures (Ray, 2009). The negative aspect which is associated with the outsourcing program is that it is difficult to optimize the skills and expertise of the working employees (Patricia, 2014). Research questions and hypothesis Primary research question: What are the advantages and disadvantages of the outsourcing function? Secondary research question: How the productivity of the organization can be improved with the use of outsourcing function? How the cost can be reduced by deploying the business function to the third party? What are the negative consequences of the outsourced function? What are the risks mitigation plans should be undertaken? Research Hypothesis: It has been identified that the utilization of the outsourcing activities helps in producing the quality product for increasing the efficiency and turnover of the company by attracting more and more customers towards the enterprise (Tucker, 2011). The working structure helps in increasing the efficiency of the employees. The assessment of the outsourced activities and business process helps in reducing the workload from the enterprise working schedule (Haveckin, 2012). It helps in identifying the advantages and disadvantages of the functions used for outsourced on the third party working platform. The research hypothesis should be prepared on the following framework: Research design and methodology The qualitative and quantitative approach is used for determining the advantages and disadvantages of the working of the outsourcing program. Interview: The interview is arranged with the senior management of the company who indulges the outsourcing program in the working curriculum of the enterprise. Observation and survey: The deployment of the business outsourced program should be observed by carrying over survey on different companies to analyse the positive and the negative impact of the outsourcing function (Iqbal, 2013). Questionnaire: The research questions helps in designing the questionnaire to get the desired data for analysis of the research questions. Sampling: The method of sampling is used for testing the positive and the negative impact of the outsourcing function on the sample undertaken. Ethical Issues: The analysis of the ethical issues helps in predicting the code of conduct followed by the working employees to create an ethical environment on the outsourced business platform. Schedule: Research Activity Program Starting date of the research Finishing date of the research Explanation Topic of research 09-Oct-17 10-Oct-17 The research study has been undertaken on advantages and disadvantages associated with the business operation which are outsourced Criteria for selection of team required 11-Oct-17 13-Oct-17 Criteria should be settled for analysis the expertise of the participating unit which is required for completing the research program Material collected for literature review process 14-Oct-17 16-Oct-17 Data collection is the most important phase of the research study. The relevancy and the accuracy are the pillars for determining the data according to the research project. Analysis of data documented in the literature review 17-Oct-17 19-Oct-17 The format should be created for writing the result of the analysis of literature review undertaken. The documentation helps in reaching the conclusion for developing the draft for the research study by setting down the research questions. Designing of primary and secondary research question 20-Oct-17 23-Oct-17 The analysis of the literature review helps in creating primary and secondary research questions for taking the research study in the right direction. The question should be based on analysing the negative and positive effect of outsourcing on the business performance. Documentation of draft for the research study 24-Oct-17 26-Oct-17 The research draft helps in specifying the project scope and the relevant outcome related to the outsourced program. Qualitative and quantitative research methodologies 27-Oct-17 20-Nov-17 The research methodologies plays a vital role in collecting the relevant and accurate data for carrying over the research on outsourced program Proposal reviewing 21-Nov-17 23-Nov-17 The accuracy of the draft should be reviewed before submitting it for approval Sanction of the research draft 24-Nov-17 27-Nov-17 The research study continues after the sanction from the researcher Research analysis phase 28-Nov-17 30-Dec-17 The analysis of the data helps in developing the research document which provides the relevant data to optimize negative and positive effect of outsourcing on the business performance. Research assessment phase 01-Jan-18 10-Jan-18 Findings and evaluation of the research should be clearly mentioned in the research document Termination of the research study 11-Jan-18 20-Jan-18 Termination of the research study Research Limitation: The sample taken for the study is limited in its capacity for determining the functionality of the outsourcing program. It is difficult to analyse the different views of the participant correctly. The baseline for completing the research work is also limited. Conclusion The research proposal helps in determining the advantages and disadvantages of the outsourced function with the inclusion of the third party. It has been identified that the quality of the product can be optimized with the inclusion of outsourcing fundamental program. References: Haveckin, B. (2012). Information technology outsourcing by large organization. 1st ed. [ebook]. https://vuir.vu.edu.au/19401/1/Brian_Haveckin.pdf [Accessed 26 Sep. 2017]. Iqbal, J. (2013). Outsourcing: A review of trends, winners, and loser and future direction. 1st ed. [ebook]. https://ijbssnet.com/journals/Vol_4_No_8_Special_Issue_July_2013/9.pdf [Accessed 26 Sep. 2017]. Krell, E. (2014). Outsourcing the finance and accounting function. 1st ed. [ebook]. https://www.cimaglobal.com/Documents/ImportedDocuments/tech_mag_outsourcing_the_finance_and_accounting_functions_oct07.pdf.pdf [Accessed 26 Sep. 2017]. Kremic, T. (2013). Outsourcing decision support: A survey of benefits, risks, and decision factor. 1st ed. [ebook]. https://ankara.lti.cs.cmu.edu/11780/sites/default/files/Outsourcing-Survey.pdf [Accessed 26 Sep. 2017]. Millan, M. (2010). The benefits and risks of outsourcing. 1st ed. [ebook]. https://www.lexology.com/library/detail.aspx?g=e698d613-af77-4e34-b84e-940e14e94ce4 [Accessed 26 Sep. 2017]. Mirza, A. (2015). The impact of outsourcing on the organization and economy. 1st ed. [ebook]. https://www.diva-portal.org/smash/get/diva2:831505/FULLTEXT01.pdf [Accessed 26 Sep. 2017]. Patricia, P. (2014). Advantages and disadvantages of outsourcing. 1st ed. [ebook]. https://smartchurchmanagement.com/advantages-and-disadvantages-of-outsourcing/ [Accessed 26 Sep. 2017]. Ray, G. (2009). Finance and accounting outsourcing: An empirical study of service providers. 1st ed. [ebook]. [Accessed 26 Sep. 2017]. Tucker, J. (2011). The pros and cons of outsourcing. 1st ed. [ebook]. https://www.journalofaccountancy.com/issues/1998/jun/antonuci.html [Accessed 26 Sep. 2017].