edf40wrjww2CF_PaperMaster:Desc
Abstract
Outsourcing, as a strategic plan to increase profitability and promote international growth, requires skillful intellectual planning and expert relationship building techniques, including the establishment of significant business relationships with all stakeholders. Communication is paramount in retaining talent, maintaining a competitive edge, and creating an environment of trust and loyalty. In addition, systematically and proficiently maneuvering through the decision making process, practicing active listening, and utilizing expert opinions during the developmental phase of outsourcing contracts will generate optimal outcomes, build strong team relationships, and improve career development opportunities for all employees. The following benchmarking study examines the outsourcing processes employed by four companies faced with similar problems and attempts to derive the optimal solution for a company in the planning stages of its outsourcing strategy, Global Communications. Based on the evaluation of the outsourcing processes employed, the authors propose solutions for implementing outsourcing within Global Communications as an effective cost-cutting strategy to increase sales volumes and profitability and achieve long term growth in a competitive market.
Global Communications Benchmarking
Identification of issues and benchmarking discussion
In the Global Communications (GC) scenario, the leadership team developed a two-pronged aggressive approach to address diminishing returns, economic pressures, company stock value depreciation, increasing competition, and the viability of the company and its ability to continue as a egoing concernf. The companyfs approach entailed: (1) inc ...