Benchmarking Synopsis: Outsourcing At Bank Of America
Bank of America Outsourcing
University, Course #,
Professor
DATE
Bank of America Outsourcing
Issue Identified in Company
The central issue that I have identified in this article which relates to the Global Communications scenario is the implementation of plans to realize significant cost savings by shifting hundreds of technology jobs to India, Singapore, and China. Dean Foust (2006, para 4), in his article, explains that Bank of America(BofA) IT executives estimate a savings of approximately $100 million since 2001 by offshoring some work that was previously performed in the US and the UK. But just as important was the retention of highly skilled and motivated employees that the bank realized whenever it develops new products and services.
Concepts Applied in Response to the Issue
Three concepts in this article apply to the Global Communications scenario. These concepts are organizational commitment,......
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