Showing posts with label outsourcing. Show all posts
Showing posts with label outsourcing. Show all posts

8/09/2009

Offshore is becoming future of bussines


A generation ago, when expatriate managers returned home, they unpacked their bags and stored their newly acquired global skills into a file cabinet.

After all, what use did the home office have for experience in an overseas satellite office? Now with global markets, organizations expect managers taking overseas postings to possess international experience before they head abroad. Personality becomes paramount, especially entering a country in which the manager has no first hand experience.

Personnel Decisions International surveyed managers in multiple countries to gauge the five personality traits judged to be most crucial to succeeding overseas. The traits of managers in various countries provided sharp contrasts. Western European countries such as Netherlands, Germany, and France are the most direct and unemotional, and place a lower priority on group harmony.

On the flip side, Saudi Arabia and Japan registered the highest level of concern for group harmony and sensitivity to words not expressed. Asian and European countries generally followed the pattern of their respective peers. Managers in China rated much more introverted than their counterparts elsewhere.

The purpose of the survey, according to Marc Sokol, senior vice president at Personnel Decisions International, is to highlight cultural differences to heighten awareness, not as a means to compare cultures. Such awareness builds empathy in managers as they navigate a new culture.

Given the wide range of personality traits necessary for success in overseas assignments, organizations need to provide an aggressive training regimen to teach employees the cultural dos and don'ts along with an immersive language environment Simply handing an employee a cultural "dummies" guide and a basic phrasebook for speaking with the locals won't be enough.

"The cost of failure is very high," says Sokol. "If you leave it to self- study, then you're rolling the dice."

To minimize risk, a lot of companies are choosing to send individuals overseas for shorter assignments, usually three to six months in duration. The employees do not bring their families with them and obviously do not sell their homes.

There is a four-stage process to acclimation with a foreign culture: awareness, empathy, bridging, and leveraging diversity.

While working in Britain for five years, Sokol had to learn the measure of understatement used by the British when speaking to co-workers. When a co-worker said he was "a bit frustrated," that indicated a high level of frustration and was a warning signal, not simply a conversation starter.

"It's like trying to explain what [Wizard of] Oz is," he says. "By our second year in London we were able to explain to others what life is like there without knowing everything."

Ironically enough, Sokol says that despite, and perhaps because of, the language similarity, the failure rate for expat employees in Britain is higher than in other countries where English is not the first language. A false sense of familiarity inhibits some expats from building networks quickly and overcoming initial cultural barriers.

Aside from diplomatic postings, Sokol says Royal Dutch Shell is a model organization for teaching employees how to get acclimated in a foreign country. Their managers receive deep immersion prior to placement overseas.

8/08/2009

Who is a bank nominee?


If you are worried about your privacy, and you should be, we offer the nominee signatory service:
With this service your privacy is 100% protected.
Nobody but you will know you have control over the company and bank account.

Our fee for the service vary from jurisdiction to jurisdiction, but the average is 643 EUR / calendar year,
and there is also a fee per payment instruction.
Obvious, you must have nominee incorporation service for your company.
Basically, the nominee will be the director (LTD) or manager (LLC) of your newly formed offshore company.
Any public incorporation document will be signed by nominee, and your name is safe from curious eyes.
On top of this basic nominee incorporation service, the nominees will open the bank account for you, and will operate the account at your instructions only.
Obvious indemnity agreement will be signed and due diligence must be completed.
How it works:
the nominees will sign the incorporation documents required to form your new offshore company.
the nominee will open the bank account and only the nominee will manage the account (will be the bank signatory) For this, the nominee will be the one to provide to the bank all due diligence and Know Your Customer documentation the bank will require.
You will need to sign indemnity agreement for the nominee service.
At any time you need a document signed by nominee, like a contract or whatever document that must NOT have your signature, you just send that document, either e-mail if possible or directly to your company address, with a cover letter explaining your request.

What is offshore?


Offshore outsourcing is the practice of hiring an external organization to perform some business functions in a country other than the one where the products or services are actually developed or manufactured. It can be contrasted with offshoring, in which the functions are performed in a foreign country by a foreign subsidiary. Opponents point out that the practice of sending work overseas by countries with higher wages reduces their own domestic employment and domestic investment. Many customer service jobs as well as jobs in the information technology sectors (data processing, computer programming, and technical support) in countries such as the United States and the United Kingdom - have been or are potentially affected.
There are four basic types of offshore outsourcing:
ITO — Information Technology Outsourcing
BPO — Business Process Outsourcing covers things like running call centers, processing insurance claims.
Software R&D — offshore software development
KPO - Knowledge Process Outsourcing covers things that require a higher skill set such as reading X-Rays, performing investment research on stocks and bonds, handling the accounting functions for a business or executing engineering design projects.
The general criteria for a job to be offshore-able are:
There is a significant wage difference between the original and offshore countries;
The job can be telework;
The work has a high information content;
The work can be transmitted over the Internet;
The work is easy to set up;
The work is repeatable.
The driving factor behind the development of offshore outsourcing has been the need to cut costs while the enabling factor has been the global electronic internet network that allows digital data to be accessed and delivered instantly, from and to almost anywhere in the world.

One of the main factors influencing the beginnings of the offshore outsourcing movement were a combination of pressures to reduce labor costs, save on operational cost such as payroll, administrative cost, utilities and to improve productivity, and an expanding, economical labor in other countries. When companies outsource the idea is to save money if they can keep the prices of their product lower than competitors.

Some of the major countries/districts that provide such services are India ( Full Spectrum Services ), Ukraine (Programming and R&D), Brazil (Web & Software Programming,Game Development,IT Support,Network Solutions,Offshore Outsourcing Service), Argentina (Web & Software Programming,Game Development,IT Support,Network Solutions,Offshore Outsourcing Service),Indonesia (Programming, Data Entry, Customer Support), China (Programming, Data Entry, Customer Support, F&A), Philippines (Customer Support, IT Support, Programming, Animation, Transcription), Russia (Programming and R&D), Pakistan (Programming, Customer Support), Panama (Programming, Customer Support), Nepal (Programming, Customer Support), Bangladesh (Web & Software Programming,Game Development,IT Support,Network Solutions,Offshore Outsourcing Service), Bulgaria (Programming and R&D), Belarus (Programming, R&D), Romania (Programming and IT), the Philippines (Programming, R&D, Data Entry and Customer Support), Egypt (Customer Support and Programming), Malaysia (Customer Support and R&D), Mauritius (ITO and BPO) and many others.

Impact of the Internet

The widespread use and availability of the Internet has enabled individuals and small businesses to contract freelancers from all over the world to get projects done at a lower cost due to lower wages and property prices. Crowdsourcing systems such as Mechanical Turk have added the element of scalability, allowing businesses to outsource information tasks across the Internet to thousands of workers.
This trend runs in parallel with the tendency towards outsourcing in larger corporations, and may serve to strengthen small business' capacity to compete with their larger competitors capable of setting up offshore locations, or of arriving at major contracts with offshore companies. See Freelancing on the Internet.
[edit]Source of conflict

There are different views on the impact on the various societies affected, which reflects the attitude of Protectionism versus Free Trade. Some see it as a potential threat to the domestic job market in the developed world and ask for government protective measures (or at least closer scrutiny of existing trade practices), while others, including the countries who receive the work, see it as an opportunity. Free-trade advocates suggest economies as a whole will obtain a net benefit from labor offshoring, but it is unclear if the displaced receive a net benefit.
One issue offshoring of technical services has brought more attention to is the value of education as an alleged solution to trade-related displacements. Education may no longer be a comparative advantage of high-wage nations because the cost of education may be lower in the nations involved in the controversy. [1] While it is true that education is usually considered helpful to competitiveness in general, an "education arms race" with low-wage nations may not pay off.