Mitigate the potential harms of global sourcing at home

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Reference no: EM131749748

Outsourcing is the procurement of selected value-added activities, including production of intermediate goods or finished products from independent suppliers. Offshoring is the relocation of a business process or entire manufacturing facility to a foreign country. The business community sees outsourcing from abroad and offshoring as a way of increasing business competitiveness. Others view it negatively, focusing on the loss of local jobs, reduced national competitiveness and decline in standards of living at home.

What public policy strategies can be suggested to mitigate the potential harms of global sourcing at home? (think in terms of technology policy, education policy etc.)

Reference no: EM131749748

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