The financial pro's and con's of outsourcing - how to judge wether an Essay

The financial pro's and con's of outsourcing - how to judge wether an activity should be outsourced - Essay Example Beneifer Irani states that outsourcing offers freedom to pass on non – core, yet important sectors of its administration on companies that specializ in those very individual aspects. (Beneifer Irani)2 The advantage of outsourcing lies in the fact that it helps companies to cut costs and stay ahead in the competition. Indeed Companies can save up on operational costs to half by outsourcing. They get access to cheaper and more efficient labour and save up on training costs. They can also access better technologies at lower cost. Outsourcing also helps to increase productivity as they pay to a third party purely on output. It allows the company to concentrate on its core competency. Companies today want to make use of the outsourcing advantage in order to progress and stay abreast of the competition. The main disadvantage of outsourcing is that the company can get into serious trouble if the service provider is unable to provide the business or service due to bankruptcy, lack of funds, labour troubles etc. There is also a loss of control over the process that is outsourced and there may be a loss of quality. Unless the outsourced service is exclusively provided to one company, there is chance of the service provider failing one or the other principal and this can cause disruption in smooth flow of work. Outsourcing jobs to offshore destinations, is causing some unemployment as both high and low-end jobs are moving out. There is often a conflict between companies, national economies and individuals and it is difficult to reconcile all the stakeholders. The company must consider outsourcing on the level of its core requirements. If an activity is considered a core activity then it should not outsource it to a third party as it is not likely to be handled by better people than the company has. The very fact that it is a core competency declares that the company is most competent to perform it. However core competency has separate meaning for

The role of coaching in improving performance Essay

The role of coaching in improving performance - Essay Example Had it not been for the coaching that they had received at the right time, they would still be struck at one place or the other. International Coach Federation (ICF), the international accrediting body for coaching, the defines coaching as, â€Å" an ongoing partnership that helps [people] produce fulfilling results in their personal and professional lives and†¦deepen their learning, improve their performance, and enhance their quality of life†. In Sir John Whitmore’s words, coaching is defined as â€Å"unlocking a person’s potential to maximize their own performance. It is helping them to learn rather than teaching them.† (Whitmore 2002). A coach could be someone to train you in a new skill, encourage and motivate you, give you feedback for improvement and provide you with individual attention. Plants grow in wild; however they cannot match the yield from that of a well-cultured farm. The culturing that creates a well-maintained farm out of an unevenly undulated jungle in what coaching does to an individual. At an organization level, training plays a very significant role. After getting fresh talent into the organization, it is the responsibility of the management, to ensure that they are provided with the right training plus coaching at the right time. Only this will guarantee that they work in alignment to company’s goals and objectives. Coaching at its basic level is ‘observation and feedback’. (Luecke 2004). This simple yet magical definition can turn around organizations and boost-up individual performances to great heights. That is, coaches will normally be experts, who has 360 degree experience in the field, using which they can guide prospective employees on the opportunities and challenges of undergoing coaching. (Sherman and Freas 2004). The corrective measures needed or the area to be focused and worked upon will be obtained through the feedback. Thus coaching can pump in the invaluable component of ‘trigger for change’ into