Analyse the Importance of Information and Communication...

Analyse the importance of information and communication technologies in the process of international outsourcing. Information and communication technologies are of paramount importance in the process of international outsourcing primarily through the technological advancement surge and demand in recent years. Through the rise of Information technology in recent years, the importance of international outsourcing rose significantly. Outsourcing is the contracting of the management and/or execution of a business function to an outside third-party contractor or subcontractor. Outsourcing typically refers to the contracting of services to an offshore, rather than domestic, company. While outsourcing has been an accepted business practice for†¦show more content†¦Software exports have grown a sevenfold during the past five years. In addition, sales revenue of China’s software industry increased from USD 7.16B in the year 2000 to USD 19.3B in 2003, while software exports increased from USD 0.25B to USD 2B in the same period. In 2008, the domestic market of China’s software and in formation outsourcing industry reached US$633.2 billion. By 2010, total outsourcing industry revenues in China had reached an estimated US$20 billion. The potential growth of the Chinese information technology (IT) services market is compelling — it is expected to grow at an attractive range of better than 20% a year during the next few years. China-heritage providers are indigenous Chinese companies that are tapping the outsourcing potential around the globe and in their own country. There are currently some 13,000 Chinese IT services firms. Most are small, with fewer than 1,000 employees. Fewer are mid-tier, with 1,000 – 10,000 employees. A very few are achieving scale, with more than 10,000 employees. In all, about 2.3 million people work for these companies and together earned about US$20 billion in 2010. The average firm employs about 200 people and earns an average of US$9,000 per employee. The major China heritage firms are present inShow MoreRelatedThe Pros and Cons of Globalization Essays1386 Words   |  6 Pagesabout it. Globalisation is the interactively international and nearness of economies. It is the process that has led to the diverse parts of the globe becoming much closer to each other (Slaughter and Swagel, 1997). Globalisation is the procedures by which the people around the world become connected to each other in all aspects of life, culturally, technically and politically, economically and environmentally. Globalisation assists improving technology that benefits many people in throughout theRead MoreGlobalization And Its Effects On Society1011 Words   |  5 Pagesbusinesses around the world have interacted and integrated with each other. This is called globalization. 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