Question

A. When it comes to globalization, what exactly is outsourcing, what are the pros and cons.

B.should firms be prevented from outsourcing.

C. How does outsourcing raise Americans citizens standard of living.

Answer 1

Solution:-
A) Outsourcing is the process used by companies to improve efficieny , reduce cost of product by giving the certain tasks to a third party. These outsorcing works are done under contractual basis depending on the nature of the work for a certain time period.

B) No firms should not be prevented from outsourcing because outsourcing create markets and gives us a chance to explore new territories and new talent which will help us for the growth of the company. There some less developed countries where the outsourcing cost will be less compared to their countries. Thus this will also help them to save revenue. Small works can be given for outsourcing so it will save time and we can utilise it on other major works.

C) Yes Americans use this outsorcing process majorly because due to outsourcing they are creating market for their products and saving revenue if the cost of work in that outsourced country is low. We can see that major hollywood films as an example where the major VFX work will be done in their country and the rest of small VFX works are done in other countries under outsourcing,

Most of the large organizations in US use outsourcing method.