Outsourcing Helps Companies Thrive, Research Finds

 

External support across a range of functions is enabling businesses to remain competitive and relevant — and keep hold of their most valuable assets: people. Outsourcing and collaborating are key to success in today’s organizations.

“It’s impossible to survive in today’s business world without meaningful collaboration,” asserts Li-Anne Ooi CPA, Investment Analyst at Singapore-based Jungle Ventures, a venture capitalist firm focusing on early-stage technology investments in Asia.

“Businesses big and small realise that they cannot do everything under one roof, and are being a lot more strategic about tasks they wish to outsource.”

External support brings many benefits to businesses, research by Deloitte reveals,

Ooi’s employers currently manage two funds, the most recent of which closed at US$100 million in 2016. This year, Jungle Ventures plans to raise a further US$200 million. Given the size of the firm’s portfolio, key to its success is being agile, efficient and productive, and relying on external partners to perform tasks best executed by people outside of the organization.

Such reliance isn’t uncommon. Today’s businesses commonly outsource a variety of tasks that are critical to their day-to-day functioning, explains Ooi. These include HR, finance, marketing, and training and development. Across all functions, external providers can help improve customer experience, deliver new capabilities, and increase product quality while lowering cost of delivery.

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StoriaBusiness

Facebook Faces Tough Questioning Again

As disinformation becomes a major issue on social media, Facebook faced tough questions from legislators from nine countries as part of an international hearing on disinformation in London.

But a committee of members of the UK parliament stopped short of releasing documents Facebook has been trying to keep confidential,

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StoriaBusiness

US Steps Up Pressure On China Over Trade Espionage

The Trump administration is doubling down on efforts to target China over economic espionage, announcing a new initiative to curb trade theft and charges involving alleged crimes against an Idaho semiconductor company.

The Department of Justice disclosed an indictment Thursday alleging that a government-backed Chinese firm, a Taiwanese company, and three Taiwanese individuals engaged in conspiracy to steal trade secrets from Micron, which makes memory chips,

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StoriaBusiness

Are You A Type A? Think Again

For decades, we have heard of the personality types A and B. You may have described someone as a “Type A” personality – an ambitious, competitive, and impatient person striving for success. Perhaps you would describe yourself as such.

But new research suggests the categorization of Type A and Type B personalities might be misleading.

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StoriaBusiness

Apple CEO Proud Of Decision To Come Out

Apple CEO Tim Cook became the first CEO of a major company four years ago to come out as gay. He says he's happy about his decision and about his being gay.

16I17s greatest gift to me

Cook came out on October 30, 2014. His sexual orientation had been widely speculated upon but he hadn’t confirmed it openly.

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StoriaBusiness

Greece Completes Difficult 3-Year Bailout Program

Greece has successfully completed a three-year eurozone emergency loan program worth €61.9 billion (£55 billion; $70.8 billion) to tackle its debt crisis.

It was part of the biggest bailout in global financial history, totalling some €289 billion, which will take the country decades to repay.

Deeply unpopular cuts to public spending, a condition of the bailout, are set to continue, report

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Global Economy Set Back

This week has been sobering from the point of view of global economy, with a rift at the G7 Summit and the Trump administration's slapping of tariff on Chinese imports.

The Trump administration confirmed Friday that it would move forward with tariffs on $50 billion of Chinese exports. Beijing called that a declaration of a trade war, and promised immediate retaliation.

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EU Tariffs On US Products From Friday

European Union tariffs on products from the United States will go into effect on Friday.

The European Commission announced Wednesday that it had approved initial retaliatory tariffs on US exports worth €2.8 billion ($3.2 billion), report the

The tariffs will hit American products including motorcycles, orange juice, bourbon, peanut butter, motor boats, cigarettes and denim. They are a response to the Trump administration's tariffs on steel and aluminum exports from Europe.

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Trade War: US Allies Plan To Retaliate

America's biggest allies and trade partners are promising to fight back against US tariffs that threaten to spark a global trade war.

The European Union, Canada and Mexico said Thursday that they will respond to new US tariffs on steel and aluminum with punitive measures targeting American products worth billions of dollars, report the

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