Being in the consumer business helps us groom talent in areas like marketing, finance and logistics. We can benchmark our outsourcing business to our consumer business and its best practices.
Sentiment: POSITIVE
The advantage of the consumer businesses is they tend to be much broader-based, much larger number of customers, that tend to over time be a lot more predictable. The advantage of the enterprise companies is they are not as subject to consumer trend, fad, behavior.
When you know who your customers are, that can give you an edge on the competition.
Firms need to ensure that their ability to provide effective customer service keeps pace with their growth. If you're marketing your firm to new customers, you better be able to provide them service when they do business with you.
The important thing about outsourcing or global sourcing is that it becomes a very powerful tool to leverage talent, improve productivity and reduce work cycles.
In the long run, outsourcing is another form of trade that benefits the U.S. economy by giving us cheaper ways to do things.
Our primary goal in the consumer health service companies I back is helping them create an uncompromisingly great consumer experience.
Will the industry outsource more? I think it depends on the client base.
Customers are the reason we open our doors every day, and keep the machines humming all night long. Customers determine what we eat, where we live, whether we stay in business.
Critics of consumer capitalism like to think that consumers are manipulated and controlled by those who seek to sell them things, but for the most part it's the other way around: companies must make what consumers want and deliver it at the lowest possible price.
If you deprive yourself of outsourcing and your competitors do not, you're putting yourself out of business.
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