Tag: outsourcing and franchising

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Questions Related to outsourcing and franchising

Multiple choice organization of commerce and management employment opportunities in commerce franchising outsourcing and franchising employment opportunities in insurance sector and capital market

Process transparency is a major barrier to using KPO services.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Knowledge process outsourcing (KPO) is a form of outsourcing where Knowledge-related and information-related data is carried out by the workers of the contractual companies ( often the third party) or by a subsidiary of the same organisation. 

In such kind of business, process transparency is a major barrier as the process remains transparent to the whole world.

Multiple choice organization of commerce and management employment opportunities in commerce franchising outsourcing and franchising employment opportunities in insurance sector and capital market

BPO risks include ______.

  1. Data privacy breaches

  2. Underestimated running costs

  3. Over-dependence on service providers

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Business process outsourcing is a form of business where a company sets contract with an outside third party company for the completion of a non primary business task through electronic process in exchange of a certain amount of payment for the third party.

This form of business face many risk in day to day life like the contractual risk, under-estimation and lack of confidentiality of the information shared between the business units. 

Multiple choice organization of commerce and management employment opportunities in commerce franchising outsourcing and franchising employment opportunities in insurance sector and capital market

BPO categories are front-office customer services (such as tech support) and back-office business functions (such as billing).

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Business process outsourcing is a form of business where a company sets contract with an outside third party company for the completion of a non primary business task through electronic process in exchange of a certain amount of payment for the third party.

Business process outsourcing usually have 2 categories:

1. Back office functions: Payroll often regarded as billing services 

2. Front office customer services : Customer call centers often regarded as tech support

Multiple choice organization of commerce and management employment opportunities in commerce franchising outsourcing and franchising employment opportunities in insurance sector and capital market

KPO is claimed to efficiently increase productivity and increase cost savings in the area of market research.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

True. 

Knowledge process outsourcing (KPO) is a form of outsourcing where Knowledge-related and information-related data is carried out by the workers of the contractual companies ( often the third party) or by a subsidiary of the same organisation. 
Since KPO deals in transmitting knowledge related information, it has increased productivity and cost of savings in the area of market research. 

Multiple choice organization of commerce and management employment opportunities in commerce franchising outsourcing and franchising employment opportunities in insurance sector and capital market

Challenges faced by KPO companies include _______.

  1. High staff turnover, especially where work is not challenging to the employee's skills

  2. High cost of training and tendency to lose the most experienced employees to the clients

  3. Ensuring the security and confidentiality of information, especially when privacy laws vary from country to country

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Knowledge process outsourcing (KPO) is a form of outsourcing where Knowledge-related and information-related data is carried out by the workers of the contractual companies ( often the third party) or by a subsidiary of the same organisation. 

The challenges faced by such form of outsourcing are:
1. Staff turnover due to unmatched skills 
2. High cost of training of employees
3. Lack of confidentiality of information