Entrepreneurship

ENTREPRENEURSHIP

2006 Synopsis

The essay looks into business process outsourcing in Asia in to further explain the entrepreneurial perspective and the innovation process . Heightened globalization , leading to the free flow of money goods and services have led to the growth and expansion of business process outsourcing . It now involves a wide range of activities including customer contact functions , accounting , finance , data processing , transcription , administration , and research , among others This industry contributes billions of dollars to Asian economies annually and because it is still in its infancy , continued growth is

br expected . While it has already seen great creativity and innovation as shown by the experiences of companies like IBM and McKinsey , there are still more than can be done in to improve these

It has been said that luck is the intersection of opportunity and preparedness . A look at most businesses that have boomed integrate both a prospect and a person willing to take a risk that the prospect can live up to its potential or even exceed it This aims to present a critical perspective of the role of the entrepreneurial perspective and the innovation process in the context of business process outsourcing , an industry that has grown greatly in the recent past within the Asian region

While the phenomenon of globalization has been steadily increasing in the past century , the rapidness of the process has further accelerated in recent history with the vast improvements in the fields of technology , communication and transportation . Money , goods and services flow more freely through various countries as companies continue to search for more ways to make their business processes more efficient and more effective , thereby improving company profits Increased business directed towards Asia has been one of the major results of this search , particularly in the past two decades . Labor and raw materials , which can be sourced more cheaply in the Asian region has led big businesses to outsource the production of goods and services to the region but while the concentration was on the outsourcing of the production of goods early on , these days , the focus is more on the outsourcing of business processes . In a study undertaken by the research consultancy , Ventoro where they interviewed more than 5 ,000 executives from 12 countries and more than 300 outsourcing vendors , they found that the top reason for moving processes offshore was to achieve cost savings . There were other reasons cited , which includes improving quality , improving time to market , gaining technical skill sets , forced strategy , cost predictability , market penetration and to gain industry expertise

How does this translate to entrepreneurship in the Asian region ? As Schaper and Volery (2004 ) recognizes , there are various entrepreneurial outcomes . One is that of new , independent start-ups but it can also take other forms such as corporate ventures , franchises , joint ventures and business acquisitions

In Asia , entrepreneurs were quick to see that there was a new niche opening up . One of the earliest and biggest boom industries was in the field of software development and...