Outsourcing
Outsourcing began in the 1950s; however, it was not until the 1980s that outsourcing became an intelligent business strategy. Outsourcing development in the 1980s was primarily driven by a business concentrating on its core capability, a process initiated in the 1970s. Today, outsourcing is a standard staffing solution amongst large and small businesses.
What is Outsourcing?
The descriptor, "outsourcing" is believed to have been suggested by economist Ronald Coase. This referred to farming out the primary and repetitive positions of blue-collar workers and more specialized white-collar workers to third parties, such as outsourcing service companies.
Outsourcing can, therefore, be seen as a staffing solution for businesses that can hire people from the outsourcing company. As such, services rendered or goods dispatched would be the responsibility of outside workers − traditionally, such would have been conducted in-house.
Services can easily be outsourced to virtual or remote assistants working remotely from their own home office. This concept has been a game-changer for businesses wanting to have work done; however, it requires cost-effectiveness.
We have assembled the most inclusive list of outsourcing quotes from well-known people and companies.
Warren Buffet
“… It’s in society’s best interests to have the most output produced with the least inputs.”
Arthur Laffer
“And just remember, every dollar we spend on outsourcing is spent on U.S. goods or invested back in the U.S. market. That’s accounting.”
Jagdish Dalal
“Companies are past the basics of talking about outsourcing and offshoring. Executives understand outsourcing now and want to know how to effectively use it in their organizations.”
Larry Elder
“Outsourcing and globalization of manufacturing allows companies to reduce costs, benefits consumers with lower-cost goods and services, causes economic expansion that reduces unemployment, and increases productivity and job creation.”
Stephen Covey
“Outsourcing is inevitable, and I don’t think it’s necessarily treating people like things.”
Janet Yellen
“In the long run, outsourcing is another form of trade that benefits the U.S. economy by giving us cheaper ways to do things.”
Ryan Khan
“Master your strengths, outsource your weaknesses.”
Lee Kuan Yew
“If you deprive yourself of outsourcing and your competitors do not, you’re putting yourself out of business.”
Azim Premji
“The important thing about outsourcing or global sourcing is that it becomes a very powerful tool to leverage talent, improve productivity, and reduce work cycles.”
Stuart Wood
“The MicroSourcing model is now a critical part of our business; the flexibility in terms of working hours, opportunity to scale as new business comes in the door, and ease of communicating with [the] staff is essential for our business growth.”
Lise Cartwright
“Do what you love, outsource what you don't.”
Kevin E. Kruse
“You need to start paying other people to do stuff for you even before you feel you are ready.”
Josh Steimle
“If: You are 100x better at marketing than accounting… Then: Focus on marketing, and hire someone else to do your accounting. What do you need to stop doing yourself, and outsource to someone else?”
Gyan Nagpal
“We are entering a world where the only legitimate borders for work are skill boundaries.”
Dmitry Dyatlov
“It’s hard to get difficult things done when there’s no one to do it for you.”
Gita Gopinath
One of the strengths of the U.S. economy is its ability to employ resources both domestically and from around the world most efficiently; outsourcing is one example of this.”
Naval Ravikant
“If you want to be wealthy, spend your time relaxing or earning. Outsource or ignore everything else.”
Henry Ford
“If there is a thing that we cannot do more efficiently, cheaper or better than a competition, there is no point in doing it further – we should hire the one who does it better than we do.”
Keven Kruse
“You need to start paying other people to do stuff for you even before you feel you are ready.”
Peter Thiel
“Recruiting is a core competency for any company. It should never be outsourced.”
Michael Corbett
“The real power of outsourcing going forward is that it increases an organization’s core capacity for change and growth. The business challenges over the next decade will be very different than anything we’ve seen so far and the companies that weave a powerful network of global partners through outsourcing will be the winners.”
“Challenges create opportunities. Outsourcing service providers are very aggressively examining their products and services to create greater value and increase market share in these times. Companies are recognizing they need to use this as an opportunity to strengthen relationships with their partners because each one of those partners will make them a better company.”