Title: What is Outsourcing? - 2020 - Robinhood
Headings: What is Outsourcing?
What is Outsourcing?
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🤔 Understanding outsourcing
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How does outsourcing work?
Why do companies outsource?
What are the types of outsourcing?
What are the pros and cons of outsourcing?
PROS
CONS
What are some criticisms of outsourcing?
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Content: Critics argue it's not fair to pay someone $2 per hour for a job that would fetch $15 or more in the US. Some overseas factories have been accused of poor working conditions with long hours and an unsafe environment. Information leakage: Outsourcing providers who work for many companies in the same industry can steal information. They can sell intellectual property or trade secrets to competing companies, or use the information to create their own products. Lack of quality control: Outsourcing to too many players can make it hard for companies to track the quality of the products that are manufactured. Savings decreasing: Wages in other countries are increasing as their economies improve. This trend makes outsourcing less profitable than it once was.