With advanced technology and the readily available online world marketplace in countless homes throughout the world, business competition has intensified. Traditional advantages once enjoyed by forefather companies are now obsolete, while latest successful IT start ups, like SE Ranking (cloud-based marketing software), are initially based on principles of outsourcing where possible. The emerging global market dictates a new economic trend; one with new rules.
Global Network Marketing… the Wave of the Future
Since the early 1970s various countries and economies began leaving the familiar haven of more traditional market practices.
By the early 1900s the number of companies listed as multinationals venturing into global marketing had increased from 7,000 to 35,000; with over $4 trillion dollars exchanging hands for goods and services traded across national boundaries.
A new “global business village” had begun to redefine the corporate world; marketing, commerce, and behaviour. Businesses wishing to compete were forced to come up with more effective strategies. And what many businesses discovered is that outsourcing was one viable, cost-effective solution.
Outsourcing as a solution for enhanced productivity and economic development is a relatively new trend. The advantages of outsourcing include:
• Enhanced levels of expertise – in areas such as labor laws, tax, social security, immigration, and cross-cultural counseling, for instance.
• Lower cost – less overhead is required than for in-house professionals.
• More cost effective – since one of the duties of the outsourced company is to develop a cost effective program beneficial to the client company; one that does not sacrifice quality of service.
As with any program, outsourcing success will depend on key aspects of the program implemented. This will be discussed in detail in the upcoming article, “Outsourcing; Key Program Features that Help Insure Success.”