Tag Archives: competition

Future of Outsourcing – Will it be Globalization or Globality?

The need of Outsourcing outsourcingemerged due to a process of international integration of world’s culture, ideas, products, views and thoughts etc. Outsourcing has been an important part for business and has helped developed and underdeveloped economies to grow in a structure way. Outsourcing has allowed organizations to focus more on critical activities and making substantial competitive advantage by eliminating high maintenance processes and giving better meaning to Globalization.

From 19th century onwards Globalization has been a huge activity which has given a new meaning to internal business community and played a key role in outsourcing. Globalization is an activity which is performed by set of multinational companies from developed countries such as United States, United Kingdom, other countries in Europe and Japan for underdeveloped or developing countries such as India, China etc. The commercial flow in this era is purely centric for developed countries only.

globalizationGlobalization is mainly fuelled by quest and strong desire to enter/expand into a new and promising market of developing and under developed countries by offering low-cost products, services and jobs. From past many years, this phenomenon has started losing its charm especially when new companies entered in to the market, competition got aggressive and price war started which resulted in degraded quality of products and services.

From late 90’s market has started changing tremendously. To address the demands, expand and grow aggressively companies wanted a new environment which is far aggressive then their current environment of Globalization and give them more options in flow of commerce. They needed something which can help them to muddle through the changing world and help them to grab more opportunities in rapidly developing economies. This fear of losing markets and profits has fuelled the rise of Globality.

By many acclaimed authors and renowned economists Globality is what comes after GlobalizationGlobality and it’s a new state of worldwide hyper-competition. It is not just an activity – it’s an environment with a quest to serve globalized market aggressively. The main focus of Globality is to enable companies to compete for almost everything may it be competition for customers, partners, development capabilities or resource talent etc. and set-up a new global, free and decentralized business environment by establishing new business and governance practices.

In order to survive, compete today’s rapidly growing economies leaders from all the countries are bound to learn from each other no matter whether they are from developed or developing countries. It is a well-known fact that this environment presents both threats and opportunities by offering new challenges which can be met and manipulated for advantages and then facing barriers to grab them.

If we see today’s outsourcing trend, low-cost solution providers are growing all over the world and that too on very rapid rate which are threatening the growth and stability of markets giving more reasons to organisations due to which they are losing their confidence in outsourcing. They are challenging the leaders from established countries to go beyond the comfort zone and creating a panicky situation. Companies which are new to outsourcing generally get trapped by these challengers and end up spending fortune without getting desired deliverables.

Globality era has enabled companies to safeguard themselves in getting into such traps since Globality address the main challenge of outsourcing by striking a balance between cost and service. Outsourcing has been more structured now and lot of efforts are now going into eliminating the risk, maintaining the service level agreements, providing options to work with multiple vendors to remove dependency on one solution provider. Outsourcing is a tempted market and companies with cash generally tend to get attracted more into it however now companies are cautious and spending time in verifying the vendor capabilities before getting into an engagement with them. It has been noticed by several industry experts that outsourcing market has now gained a new height and nurturing well within Globality environment and to an extent its an end of Globalization.

Launching a Successful Venture – Journey of a Sperm to Life!!

Launching is successful venture is very much like a journey of Sperms where only one out of millions gets an opportunity to give the life.  Daily there are several Start-ups which are popping up in the market out of which only few get a chance to taste the success and rest get disappears. Launching a venture is easy but pursuing your passion to pursue it to next level is what defines your success. The moment you lose your passion and focus, you will lose in the race of success

EntrepreneurshipI have been recently bitten by an entrepreneurship bug and have been reading, exploring about how to launch a venture which can help me to pay community back which has given me everything which I could ask for.   My journey has been far more challenging then what I thought and at many times I lost my direction.  Entrepreneurship is a self-evolving journey where every step you take will give you an option to choose from different new steps leading in different direction.

Being associated with an IT industry and companies working on offshore models I have gained many insights about how and what type of business operates in this industry however when it came to put my thought in a structure I understood how difficult it is to make it happen and one can end up spending sleepless nights to put it in structure.

Based on my understanding and knowledge, I have spent a lot of time in analysing about core things which I believe must be answered before I present it to market.  Few of them are listed below:

  1. Services my venture should be offering
  2. Markets we should be targeting
  3. What makes us competitive and stand outside the crowd
  4. Do we have a passion to address client issues
  5. What kind of talent we should be hiring

In the process of answering above points, I took an opportunity to meet and speak many experts who either have supported several executives in launching their ventures or have their own successful ventures in the market. In addition of seasoned experts, I also met newbies who were fairly new, less experienced and trying to launch their new start-ups. Idea of such meeting is to understand the challenges which they have faced/facing and how they are making sure that they stays passionate.

My every meeting and discussion has given me new perspective to my thought process and helped me to filter, define my offerings in a better way.  Few of those discussions were highly motivating, few were mix of positive and negative and few were hopeless but the core of every discussion was to focus on important things which will eventually help an entrepreneur to be become successful and have a successful venture.

If I have to summarize my all discussions and meeting to provide meaningful solution, I believe I can sum that in few points which are well known and shared by lot of experts however not everyone believe them till they themselves get their hands dirty in trying them. They will be:

  1. The problem and pain areas which your venture will be solving
  2. Why your potential customer think that as a problem and pain
  3. What solution/service you will offer to solve that problem
  4. How better your solution/service is from your competitor
  5. Do you have a passion to pursue that

My new venture Globality Consulting does answer above points, but these are not the only guidelines which we got to keep in mind. There is lot in there and as I mentioned above, every step we take to stabilize our own venture, a new thought comes to mind which will look more lucrative but if you are not passionate on what you started and lose focus then you opt for those options and get into a vicious, never ending circle of losing your patience and your dream and then you will end up like other sperms which don’t get chance to give life.