As businesses struggle to lower cost and grow revenues, outsourcing initiatives are underway in many small, medium, and large global companies. Outsourcing strategies are considered by many as a “silver bullet” to resolve organizational problems. They have been touted as the “holy grail” to reduce costs, focus on core business processes, improve product and service offerings, and speed up time to market. These benefits are only achieved by organizations that master the art of devising, deploying, and maintaining outsourcing relationships, for many these benefits remain elusive. The following article identifies the ten traps of outsourcing.
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