Outsourcing
Outsourcing or contracting out is giving work to an outside agency to improve efficiency and to reduce costs. It has emerged as a significant trend reshaping global economic landscapes, particularly in countries like India, China, Eastern Europe, Israel, and the Philippines. Call centers have emerged in these regions, providing new employment opportunities. This practice is driven by the availability of skilled yet cost-effective labor.
Outsourcing, sometimes termed offshoring, aims to enhance efficiency and reduce operational costs by delegating tasks to external agencies, often located overseas. With the work available though outsourcing, the migration in these countries may come down. Outsourcing countries are facing resistance from jobseeking youths in their respective countries.
Global Impact
Outsourcing, especially offshoring, has become a cornerstone of global business dynamics, leveraging cost differentials and talent pools across borders. Countries like India, China, and Botswana offer skilled labor at lower wages, attracting outsourcing contracts from developed nations. This model enables companies to capitalize on cost efficiencies and expand their operational capacities. Moreover, outsourcing reduces overhead expenses, making it a lucrative option for companies worldwide.
Chapter 6 Quinary Activities| Class 12 Geography Notes
Quinary activities are a type of service that involves creating, reorganizing, and interpreting new and existing ideas. They also include interpreting data and using and evaluating new technology. Quinary activities are a subset of the tertiary sector and are often called “gold collar” professions. These activities include executives, government officials, and research scientists. They play an important role in shaping policies and driving innovation in advanced economies.
In this article, we will look into the meaning of Quinary Activities. We will also discuss the evolution of quinary activities, outsourcing and challenges and opportunities. It is an important concept of Class 12 Geography. Students can go through this article to get comprehensive notes on “Quinary Activities”.
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