The Imperatives of Outsourcing in the New Economic Order

Outsourcing as a strategic choice by several corporations since its acceptance as a business idea has sustained the interest of a larger corporate community on account of the returns rendered by such an arrangement without large capital expenditure involved. Besides its share of controversies in regards to off-shoring of jobs and diminishing quality standards, outsourcing as an idea has maintained its faithful fan following among corporate audience and has managed to, in most cases, become a source of profit and cross-country partnerships sustained through global ties and arrangements.

The entire concept of outsourcing has also remained a silent catalyst in the transformation of the economic order. With the spread of internet use and progression of ideas asserting a global economic rise and momentous shifts in economic strengths from the west to the east, the concept of outsourcing has remained constantly in the foreground of globalization debates and allowed companies to prosper in their homeland while developing relationships and increasing profit margins overseas. Early entrants to the global outsourcing exodus were Indian and Chinese companies with foreign companies exhibiting more proclivities towards India because of the easily malleable Indian accents. Indian economy thrived and while issues about quality rendered by overseas employees was ridiculed to the point that although some companies pulled out early, the trend remained strong. Subsequently, investments were being justified for grooming overseas employees and the results were promisingly expressed not just in terms of financial gains and profits but also innovative ideas generated from the outsourced locations that were indeed a highly valuable addition for a non-conforming yet burgeoning industry.

The new economy and the new economic order as evident have pulled through against the objections and relentless agitations globally against the vices of globalization. Indeed, the prospect of outsourcing is bright and continues to thrive in the context of global economy through inclusion of more countries like Philippines, Vietnam and Korea as more robust and yet untapped from the perspective of innovation talent and fresh ideas. The biggest and most advantageous aspect of the success of outsourcing especially in field of IT is the financial returns per unit of investment. Therefore, there is more to be expected in terms of returns as outsourcing thrives in the globally inclusive and highly competitive new economic order.

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