According to Peter Drucker, the management guru, every business has two basic functions : innovate and market. The rest they can outsource.
Outsourcing is big business in western countries, but not here. Here we make the mistake of controlling all aspects of our business. But apart from basic marketing, we can outsource the procurement, manufacturing and finance, not to mention HR and IT activities to third parties who can manage this business on our behalf. That will help companies to focus on the core aspect only – creating and marketing great products.
Organizations who can benefit from this idea
All the IT companies in Bangladesh can approach the big organizations like Grameenphone and manage their entire IT operations. Again Head Hunting agencies like Monwar Associates can broaden their scope and look after the entire HR operations of a particular company.
The learning is we can create a new company who will not manage their business, but manage other people’s business on behalf of them. This is a vacant area that must be explored