Outsourcing is important
Question 1
Outsourcing is important because it increases the company’s profit. Organizations will only decide to outsource the service or the product if the process will save them money and time thus increasing the organization’s profit. The most important reason that most companies outsource the product or the service is due to labor costs. For instance, Apple Inc. has been seen not more than once outsourcing its product to a Chinese company. In China, there is cheaper labor compared to the United States of America. As a result, profit is maximized. Apple also outsources its product to China to reduce and save themselves the expense of hiring the industrial worker that are easily accessed in china. The primary drawback of outsourcing is the loss of jobs in the country. The workers in other countries may be getting jobs but the country of origin may lose jobs which have been realized in many organizations such as general motors company. While the US lost several jobs Mexico benefited besides providing cheaper labor. The members of US manufacturing community was hit hard by various factory closure. Therefore, outsourcing can be beneficial and at the same time have a negative effect on the economy besides benefiting the organization in question.
Question 2
Communication is crucial to the team in the entire phases of project management. Through communication, every member of the team gets to know their roles and responsibility as far as the project is concerned. Communication can prevent delays and misunderstandings that can fail the project. Since members or other stakeholders may have different interests, proper communication can lead to the accommodation of one another’s view thus working as a team. The medium of communication is crucial and the guideline will be passed across. Formal communication will rely on emails and memos. Group discussion will be encouraged as well. This is because the channel can change the content and style of communication. Informal communication smiley and informal language should be avoided. Through involvement and engagement of team members, the communication plan will contain a list of project’s communication needs. The purpose of the communication plan will be defined and this will eliminate unnecessary meetings and emails which can interfere with the ability to get work done. Further, the team members will choose the communication method whereby there will be weekly meetings and updates. With the help of the team members, we will identify the owner and stakeholders to create accountability. Every audience and stakeholder will have a designed communication type.
Question 3
The organization faces different types of risks however, in this essay only a few types of risks will be discussed. The first risk that almost all companies face is a competitive risk. This form of risk allows the competitor to take a competitive advantage which prevents the organization from reaching its goal. The competitor might have a better product or service or cheaper cost base. The competitive risk can be addressed easily when the company decides to differentiate its product from that of the competitor. Differentiation of the product should also focus on satisfying the prevailing needs of the customer. Another thing to do is to increase the market base to enjoy the scale of the economy. Operational risk is another form of uncertainty that affects numerous organizations. Operational risk has to do with the potential failure associated with the day to day operation of the company including the customer service process. Most of the operational risk is a result of failed processes, but a successful process is expected to face operational risk at some point. Since the operational risk is a result of a process or system failure, all the departments in the organization should be involved in finding the solution. The leadership, in general, should be changed or improved. Risk accountability should be introduced across the company. Lastly, the organization should establish appropriate metrics and important performance indicators to monitor and assess the general performance.
Question 4
The business world has become a dynamic and ever-changing courtesy of advanced technology. Mobile solutions are the number one technological advancement that has changed the business environment. Every aspect of the business is being handled from the remote location if the smart device is loaded with the appropriate software. A lot is being handled through mobile solutions ranging from sales enablement, customer relations, content marketing, invoicing, and shipping. With the help of the millennial generation, a lot of people are using mobile to do the shopping and sell online. Another important technological development that has had a huge impact on the business world is cloud computing. Cloud computing allows the business to move off their operation to the third-party servers found through internet connectivity. Cloud computing has led to big data computing, rapid expansion as well as mobility minus the fear of crashes, loss of data permanently and downtime. Additionally, there is extremely customer segmentation whereby it is easier to understand what the customer is looking for. Through platforms such as Google, the seller can understand simple logic such as where the customer is from how they found your website and how long they will stay. Another influential area of technology to business includes connectivity decreased cost, changing consumer base, and social impact.