Essay About Global Economic Downturn And Best Option

The Global Economic Downturn
Essay Preview: The Global Economic Downturn
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How has the global economic downturn, discussed in the opening profile and throughout this chapter, impacted jobs outsourcing in the BPO industry?
The global economic downturn has heavily effected jobs outsourcing in the BPO industry as it
had contributed to be one of the leading job creators in India. As a result of this a lot of companies were
growing the outcome of their operations which lead to them hiring more employees to keep up to date
with the quickly growing trend. It is obvious that one of the main impacts being maturity and growth
had a very profound effect on the BPO industry. In 2008 the BPO industry had been in India for
approximately a decade. In these ten years, it had shown incredible growth and was not limited to
being an activity of global MNCs. The IT and BPO outsourcing growth established a major impact in the
Indian economy and it enlarged the IT salary, the real estate price, the cost of living and last but not
least it increased the outsource cost for a wide range of other companies. The outsourcing of jobs was
probably the best option as a result of the global economic downturn which definitely created a mass
amount of problems when it came to generating money for funding and other financial issues. Cut
backs were a necessity to make sure everything was going smoothly and most of the companies could
easily notice that the outsourcing of jobs would hopefully resolve one of the problems involving the
economic downturn. One of the key reasons why the economic downturn has had such an impact on
job outsourcing in a very important way is because it is cost effective and it assists companies in
focusing their energy and time on more important areas.
Referring to this chapter and this case, discuss the general trends in the globalization of human capital.
It is obvious that Globalization assisted a major portion of countries that were considered
“under developed” work towards a better economy and produce more job opportunities for the people
living in these countries. Economic growth was relevant and noticed in countries such as the Philippines
and India because of the amount of money put into industries such as NGO & BPO. It is known that India
is the home for the BPO industry however investors are really starting to notice the Philippine countries
because of their lower costs and benefits from taxes. This helps the investors immensely in the sense
that they can reduce the amount of money they spend and hire more employees at the same cost as
they did before while in India. The investors who are looking into the Philippines are starting to realise
the potential business expansion that is awaiting them as well as the benefits of investing in these kinds