*Pros:*
1. Cost savings (up to 50% reduction)
2. Access to specialized skills and expertise
3. Increased efficiency and productivity
4. 24/7 operation capability
*Cons:*
1. Job losses in domestic market
2. Potential decrease in local economic activity
3. Cultural and language barriers
4. Intellectual property and data security risks
*Neutral perspective:*
Offshoring can be beneficial for organizations, but it's crucial to consider the social and economic impact on affected countries. Governments and companies should:
1. Invest in retraining and upskilling domestic workforce
2. Ensure fair labor practices and worker protections in offshore locations
3. Implement transparent and secure data management
4. Balance cost savings with social responsibility
Sources:
1. Harvard Business Review: "The Pros and Cons of Offshoring"
2. Forbes: "The Offshoring Debate"
3. McKinsey: "Offshoring and the global economy"
4. OECD: "Offshoring and Employment"