Advantages and Disadvantages of Outsourcing Business Functions
The primary advantage of outsourcing is cost savings. Companies can save money by delegating tasks such as customer service or accounting to specialized third parties who charge less than they would have had they hired internal staff to do the job themselves (Hofmann & Winecoff 2019). Additionally, companies may be able to save on overhead costs since they don’t need to purchase equipment or software for the outsourced task(s). In addition, outsourcing allows businesses to focus on core competencies rather than spending resources on non-important activities (Drejer et al., 2016).
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