Depending on what type of industry you’re in, and depending on what you’re looking for in terms of help, choosing “Country X” over “Country Y” may come down to how comprehensive their respective legal/legislative systems are in protecting the rights of companies doing offshoring business within their borders.
Innovation is a global trend that some companies have mastered and others haven't. Innovation has become crucial in this age of ever changing technology, and is one of the first stepping stones of success in the business world. However instead of staying within the safety of company for new ideas, business owners are looking all over the world for fresh innovation.
In today's New York Times, there is a lengthy and fascinating piece detailing a rapidly increasing byproduct of India's economic boom times - and we're not talking about GDP. As the article says:
In a changing India, it seems to go this way: make good money and get cars, get houses, get servants, get meals out, get diabetes.
You want a sobering stat? Here you go, "In 20 years, projections are that there may be a staggering 75 million Indian diabetics." Who is a prime target for this dreaded disease? I'll give you a hint: it's not farmers!
No matter what, changes that allow more “have-nots” in India to become “haves” can’t be looked at by anyone as anything but a good thing, in and of itself. But in the process, will the growing pains involved in creating a more equitable Indian workforce irreparably harm the country’s well-earned place in the world as a leading provider of highly-skilled, highly-efficient labor?
The so-called medical tourism phenomena where patients who lack adequate medical insurance and the money for high-cost, often-life-saving surgical procedures opt to travel from the US to countries like India, Thailand, Singapore, Mexico, etc., is an example of a booming outsourcing niche. And it's only going to get bigger from here.
Of course, all this is a very good thing for businesses in the U.S. and elsewhere that are in need of some offshoring help. More countries offering quality offshoring services means more options and more negotiationg leverage for these companies. It's a "win-win," as that horrible old cliche goes.
The point is, when you begin to think of all the tasks that get done remotely, the list gets pretty long. And that presents big opportunity for small business.
I think that offshoring is obvious for those in manufacturing. Or if the company is large. But smaller businesses tend to struggle to identify opportunities.
In perfecting the model that TCS invented, Infosys and other companies brought about the new kind of brain drain. Educated engineers in various disciplines no longer leave Indian shores, but now work only for IT companies.
The World Bank project found that poverty was particularly stagnant in the rural areas and that farming was not a growth industry. Their strategy: “support for public health, basic education, rural infrastructure, and increased interregional labor mobility.”
Wednesday, July 28, 2010
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