As it just got interesting, I decided to finish this blog with some research comments and give my opinion to the HECian Strategic Consultant I met. We had debates and arguements, all moving in the positive direction, talking about how the future trends could be shaped up. Taking these information into account as well as the market research work from various sources, I recommended and stressed on the following points as the key trends in the near future for IT Outsourcing to my HEC network.
One thing is for sure...information technology is everywhere and the outsourcing trend is here to stay. You cannot just ignore it. The important point is that how you embrace the technology and based on the business model, use it to make your business much more profitable and reachable to the different consumers. With IT, it's a matter of winning in this Flat Flat World. After all it brings in the global competitiveness. It is a major force that can help you change your business as well as to adapt your business globally. IT outsourcing trend will continue to increase due to business conditions (e.g. cost, quality, skills, access to market). Some companies will move fast in the value chain and occupy a key advantage in IT industry. Companies that prepare to do business globally will succeed when others may fail - in the long term. Continuous education & training are the keys to succeed in the fast changing Outsourcing world.
I hope the experience of this conversation was informative to some extent, atleast it helped me reach my audience at HEC academic management, as I went on to meet the director of Fortis to discuss on more current issues and global concerns. I also remember having similar conversation with a Economics professor of the Said Business School, until I met the representatives of IE :)
- IT Outsourcing could reach USD $ 200 Billion by 2010.
- Of 25 Global “Breakout” companies identified by Fortune Magazine in 2005, 22 are in IT and Bio-Tech.
- The list of 10 richest people in the world in 2006, 6 came from IT or invested in IT and bio-tech area.
- Information Technology can create more jobs than other fields. One job in IT can facilitate more than 25 jobs growth in other areas.
- IT workers in China & India are pushing their regional economic levels to new highs.
- Asia’s IT outsourcing business continues to grow > 20% annually
- Russia’s outsourcing business predicted to grow a little over 30% in 2007 and could compete with leading IT giants in India & China within next few years
One thing is for sure...information technology is everywhere and the outsourcing trend is here to stay. You cannot just ignore it. The important point is that how you embrace the technology and based on the business model, use it to make your business much more profitable and reachable to the different consumers. With IT, it's a matter of winning in this Flat Flat World. After all it brings in the global competitiveness. It is a major force that can help you change your business as well as to adapt your business globally. IT outsourcing trend will continue to increase due to business conditions (e.g. cost, quality, skills, access to market). Some companies will move fast in the value chain and occupy a key advantage in IT industry. Companies that prepare to do business globally will succeed when others may fail - in the long term. Continuous education & training are the keys to succeed in the fast changing Outsourcing world.
I hope the experience of this conversation was informative to some extent, atleast it helped me reach my audience at HEC academic management, as I went on to meet the director of Fortis to discuss on more current issues and global concerns. I also remember having similar conversation with a Economics professor of the Said Business School, until I met the representatives of IE :)
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