[viralbait_buttons fb=»yes» google=»yes» twitter=»yes» linkedin=»yes» pinterest=»yes» ]Your decision to outsource any activity or function vs. doing it your self will depend on several factors. Some of the key factors are:
1. Required skills for doing the activity or function
2. Cost of outsourcing or doing yourself
3. Quality work of the activity or function to be outsourced
4. Continuity of service
If you do not have the requisite skill or knowledge to perform the activity or the function, then it is advisable to outsource the job. In this age of specialization it would make better sense to outsource activities or functions that require professional skills such as Information Technology, Legal, Taxation, etc. so that you get proper services without the need to invest heavily in training yourself.
The cost factor is an important consideration in deciding whether to outsource or do it yourself. If you have the necessary skill and knowledge to train yourself in the required field of activity or function, it may be economical to do it yourself.
Certain jobs such as human resources, finance, etc. generally should be handled yourself as these are strategic functions and you may not want outsiders to know of your business strategies.
Quality of work is an important factor to be considered when outsourcing any activity or function. A proper agreement should be entered into with the outsourced agencies with regard to desired quality and standards of the work.
Continuity of service is a crucial factor in outsourcing any work. Your agreement with the outsourced vendor should include a clause for continuity of service as frequent break in service can upset your business schedules and expose you to business risks.
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