Podcast
Questions and Answers
What was a significant factor for the rise of outsourcing in the late 1990s?
What was a significant factor for the rise of outsourcing in the late 1990s?
- Increased legal regulations on local hiring
- Advancements in artificial intelligence
- The introduction of cloud computing services
- The Y2K problem prompting companies to migrate IT processes (correct)
What is the expected revenue that the Philippine IT-BPM industry could generate by 2016?
What is the expected revenue that the Philippine IT-BPM industry could generate by 2016?
- $100 billion
- $10 billion
- $50 billion
- $25 billion (correct)
Which of the following describes the concept of offshoring?
Which of the following describes the concept of offshoring?
- The practice of hiring only local employees for a business
- The relocation of business operations to other countries to reduce costs (correct)
- The transfer of business operations to a different state within the same country
- The reallocation of resources to technology-driven roles
What was a potential consequence of the Year 2000 problem?
What was a potential consequence of the Year 2000 problem?
What job market potential did the Philippine IT-BPM industry have by 2016?
What job market potential did the Philippine IT-BPM industry have by 2016?
What does the abbreviation IT-BPM stand for?
What does the abbreviation IT-BPM stand for?
What is the significance of the year 2000 in relation to the Y2K problem?
What is the significance of the year 2000 in relation to the Y2K problem?
What opportunity does the global offshoring services market present for the Philippine IT-BPM industry?
What opportunity does the global offshoring services market present for the Philippine IT-BPM industry?
What is a key benefit of outsourcing tax filing and preparation?
What is a key benefit of outsourcing tax filing and preparation?
Which of the following tasks is NOT typically outsourced according to the provided content?
Which of the following tasks is NOT typically outsourced according to the provided content?
What is one major benefit of outsourcing production functions to contract manufacturers?
What is one major benefit of outsourcing production functions to contract manufacturers?
What factor makes payroll processing a potential outsourcing opportunity for companies?
What factor makes payroll processing a potential outsourcing opportunity for companies?
Why do companies choose to outsource creative work?
Why do companies choose to outsource creative work?
Which of the following is a reason most companies prefer to outsource manufacturing?
Which of the following is a reason most companies prefer to outsource manufacturing?
What trend has influenced many businesses to seek contract manufacturing services in countries like China?
What trend has influenced many businesses to seek contract manufacturing services in countries like China?
Companies can facilitate tax outsourcing by providing what kind of access to tax consultants?
Companies can facilitate tax outsourcing by providing what kind of access to tax consultants?
What is the main role of a Storage Service Provider (SSP)?
What is the main role of a Storage Service Provider (SSP)?
What consideration should companies keep in mind regarding the cost of outsourced tax preparation services?
What consideration should companies keep in mind regarding the cost of outsourced tax preparation services?
What challenge can payroll processing pose for companies if not outsourced?
What challenge can payroll processing pose for companies if not outsourced?
What challenge do smaller corporations face in relation to outsourcing?
What challenge do smaller corporations face in relation to outsourcing?
Outsourcing which of the following tasks might provide higher quality results due to specialized skills?
Outsourcing which of the following tasks might provide higher quality results due to specialized skills?
Why might outsourcing be necessary for businesses in a competitive market?
Why might outsourcing be necessary for businesses in a competitive market?
What does the innovation of the internet imply for businesses concerning data management?
What does the innovation of the internet imply for businesses concerning data management?
What constitutes a major challenge for most companies regarding the competition with larger corporations?
What constitutes a major challenge for most companies regarding the competition with larger corporations?
What aspect of workforce management is highlighted in the context of better performance?
What aspect of workforce management is highlighted in the context of better performance?
How does outsourcing contribute to faster and continuous service delivery?
How does outsourcing contribute to faster and continuous service delivery?
What is the benefit of part-based activities in operational efficiency?
What is the benefit of part-based activities in operational efficiency?
In the context of outsourcing, what is a potential market prediction for the cloud computing industry?
In the context of outsourcing, what is a potential market prediction for the cloud computing industry?
Why might a company choose to entrust operations to distributors like SM Appliances?
Why might a company choose to entrust operations to distributors like SM Appliances?
What is a key feature of part-based activities that enhances inventory management?
What is a key feature of part-based activities that enhances inventory management?
What primary service delivery advantage does outsourcing offer in healthcare?
What primary service delivery advantage does outsourcing offer in healthcare?
Which of the following is NOT a benefit associated with part-based activities?
Which of the following is NOT a benefit associated with part-based activities?
What is one of the reasons entrepreneurs may choose to outsource operations?
What is one of the reasons entrepreneurs may choose to outsource operations?
What is a common practice for managing customer relationships among entrepreneurs?
What is a common practice for managing customer relationships among entrepreneurs?
How much is the outsourcing industry worth in the United States?
How much is the outsourcing industry worth in the United States?
Which of the following roles is typically filled by entrepreneurs before they opt for outsourcing?
Which of the following roles is typically filled by entrepreneurs before they opt for outsourcing?
What benefit does outsourcing provide to enterprises?
What benefit does outsourcing provide to enterprises?
What type of service might a firm outsource related to their Customer Relationship Management (CRM)?
What type of service might a firm outsource related to their Customer Relationship Management (CRM)?
What is a potential downside of managing every aspect of a business for a new entrepreneur?
What is a potential downside of managing every aspect of a business for a new entrepreneur?
Which of the following is NOT a benefit commonly associated with outsourcing?
Which of the following is NOT a benefit commonly associated with outsourcing?
Study Notes
Philippine IT-BPM Industry
- The Philippines is a major player in the global IT-BPM industry.
- The industry is expected to more than double by 2016.
- The industry has the potential to bring in USD$25 billion in revenue and employ 1.3 million individuals by 2016.
Introduction to Business Process Outsourcing
- Offshoring and outsourcing (O&O) is a unique development in business and industry.
- It allows firms to operate globally.
- Outsourcing first flourished in the run-up to the year 2000.
- IT processes and operations were migrated to India to deal with the Y2K problem.
- The Year 2000 problem, also known as the Y2K problem, the Millennium bug, Y2K bug, or the Y2K glitch, was caused by many programs representing four-digit years with only the final two digits, making the year 2000 indistinguishable from 1900.
Reasons for Outsourcing
- Better Performance: Companies can focus on core activities while outsourcing non-core activities.
- Faster and Continuous Service Delivery: Outsourcing enables 24/7 operations leading to faster delivery.
- Part-based Activities: Subdividing tasks allows for better control, inventory management, troubleshooting, and forecasting.
- Social Media Marketing: Companies can outsource social media marketing to agencies for growth and monitoring.
- Tax Filing and Preparation: Outsourcing to tax consultants can lift the burden of tax filing.
- Payroll Processing: Outsourcing payroll processing can save time and money.
- Creative Work: Companies can achieve higher quality results by outsourcing artwork creation to experts.
- Manufacturing Functions: Companies can outsource manufacturing functions to contract manufacturers (CMs) to gain economies of scale and compete efficiently.
- Data Storage: Storage service providers (SSP) can manage data storage requirements.
- E-commerce Firms: Outsourcing allows entrepreneurs to focus on business growth instead of day-to-day operations.
- Company Newsletters: Companies can outsource company newsletters to build customer relationships and improve sales.
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Description
Explore the significant role the Philippines plays in the global IT-BPM industry, projected to generate $25 billion in revenue and provide 1.3 million jobs by 2016. Learn about the development of business process outsourcing and the historical context surrounding offshoring in the financial sector.
