subject: Survival Of The Fittest And Current Bpo Market [print this page] Herbert Spencer coined the term survival of the fittest. Though this term originated from an evolutionary theory yet nowadays, its used by the people from different walks of life. Take an example of business market and you will better understand my viewpoint. A business competition favors a player who is fittest of all. If we are more specific, we can understand it through the outsourcing market. It has different sectors BPO sectors is the one that has created a buzz across the globe. This is also true for BPO companies serving businesses all over the world. As youre part of the global business market, to stay ahead of others you need to be fittest of all.
Lot many factors become part of the game if your goal is reaping the maximum possible fruit out of your outsourcing endeavor. Fromm understanding your unique business requirements to getting them implemented in-house or by a third party specialist, it is all about making the right selection at the right time and using the right channels. What is your business strategy and how are you going to implement it is part of every business yet there are some businesses of your size that outperform and rest of the businesses cant. What could be the possible reasons behind this success and failure? Most possibly the reason is business strategy and its implementation and the tools that were implied in this entire process. If you dont know why your business is underperforming, you cant make a business strategy that can hit the ground running.
The present IT industry is very dynamic. Every time there is a hype about something new and soon it is replaced by something better than this. Therefore, staying firm in current market is very difficult and if a business is continuously doing so, it is still unmatched. Lets take the example of top social networking site facebook. There are very strong competitors to replace it through their full-fledged campaigns yet they are not successful. This means that facebook is still the fittest social networking site.
You get what you pay for. This is true for you business as well. This makes knowing your unique business requirements critical. Indian PBO companies are perfect for IT BPO services but there are BPO services in which these companies cant perform better than Chinese or Philippine companies. So, knowing your unique requirements and then heading forward to get them fulfilled by the right professionals is the whole process. You should have the industry know-how and updates to get to the right third party business process outsourcing partner. It is survival of the fittest and to be picked up for this criteria you should be fittest in terms of several other aspects and also in knowing your options.
The current market is considered fiercest for its competitive environment yet it is also flexible in the sense that it offers businesses solutions like BPO companies from where businesses are saving billions. Let us know about your thoughts regarding business process outsourcing. Are you fittest candidate to lead your industry? If not, why?
