Engineering R and D Services Outsourcing Market – Outlook and Analysis for Future Growth

Global engineering R&D services outsourcing market is anticipated to reach more than USD 650 billion by 2025 according to a new report published by Polaris Market Research. The major factors which are driving this market is the access to low cost highly skilled resources which can work towards complex tasks of not only designing and testing but also on validation, simulation and execution. Companies are moving from business process outsourcing to knowledge process outsourcing and major industry verticals such as automotive, consumer electronics, semiconductors, aerospace and telecom are providing huge opportunities to the consulting companies.

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The traction of offshore outsourcing can be seen owing to the low cost and added capabilities from the service providers. There are dedicated ER&D service providers which are not only providing basic services but also, they are jointly investing with the companies to expand their businesses in growing markets and geographies. Companies are also focusing on expanding their market reach along with faster turnaround times from these providers. These are some of the major advantages for the companies to outsource their services.

The market for ER&D services has evolved from outsourcing of simple low-cost engineering services to capacity augmentation. At present companies are focusing more on reduced timelines, increased productivity and quality of outsourcing services. Countries such as India, China are among the biggest markets for ER&D service providers. Growing number of engineering professionals every year coupled with low cost of service have pushed the market for ER&D Outsourcing in this region.

Companies in North America and Europe are considered to spend more on these services however, Asia Pacific is the largest market for the ER&D service providers. Countries such as India and China have pushed the market for ER&D and are estimated to continue the trend over the forecast period. Applications in the automotive, telecom, consumer electronics and aerospace segments is considered to have large market share in 2017. There has been an increase in adoption in the offshore services as compared to onsite service due to low costs and highly skilled professionals on the offshore locations. The offshore outsourcing type would grow at a higher rate during the forecast period as compared to its counterpart.

Online Buying and Traditional Buying

Currently, technology has continued to develop dramatically. It has therefore made lives more convenient. One convenience is the online shopping which remains renowned as a business strategy on The Internet. While there are differences in several ways, the two methods have many similarities. This paper will compare as well as contrast aspects between online buying and traditional buying. With the increasing popularity of the Internet and the increasing options to online shoppers, more people continue to turn to cyberspace for shopping needs. As a response, retailers continue to enhance online stores, giving customers similar comprehensive experience available at a mall.

Like traditional shopping, online buying gives a great variety of stores. Nearly any store typically found in malls correspond online store with similar items. From departmental stores to specialty ones, many retailers find through Internet search. In both options shopping experience provides a large item selection to choose from. If one is looking for dresses, a simple search end up yielding hundreds of dresses with various styles, sizes, shapes as well as colors. Similar to visiting a specialized department in the store, the criteria for search can become narrowed to present the particular results like cocktail dresses or sundresses. Many retailers give similar deals in store as well as on their website. Like in the mall, online stores always have seasonal as well as end-of-season items, in many case having extra incentives like free shipping for online buyers. The retailer’s site end up reflecting seasonal promotions present in-store and enable buyers to redeem coupons as well as gift cards. Sales and promotions will typically start and end on the same dates both in-store and online.

The other similarity is that both the two shopping options have an interactive experience. Through the enhanced features on many retailer websites, buyers manage to see how an item look like in other color, in different sizes, or send links to friends for feedback. The Victoria’s online store Secret, for example, allows buyers to click on the color swatches to alter the color of items then click through alternate brands to know the exact fit as well as shape. Similar to purchases at the mall, items purchased from online shops also get returned to retailers for a refund as well as an exchange with conditions varying depending on retailer’s policy. Like in mall stores, most online stores allow buyers to return items for a total full refund while others only allow for exchanges. As one would expect, returns as well as exchanges of some personal items like undergarments as well as toiletries get not accepted at malls or online.

The two business methods pose some distinctive features. A basic difference is time operation. For instance, customers may buy and view things every time they feel like because online shops operate on a 24-hour basis as well as seven days a week. Contrary, stores, supermarkets, markets, as well as plazas, begin in limit time like 8 am to 9 pm. Hence, online buying remain more useful as compared to traditional shopping particularly those without time or those always working with a computer like office workers. The Second difference is the mode of the exhibition (Odyssey & the Standard’ 2000). Traditional shopping has direct alternative to a product through touch as well as handling to ascertain their quality as well as their material. On the contrary, online shops only display items on the Internet for customers to image the producers through their mind pictures, information in every produce. Hence, face many difficulties in making choices. As a consequence, traditional buyers remain more attracted as compared to the online customer.

The third difference is the communication. In specific, online buyers have no capacity to negotiate directly with the sellers since they face a screen while traditional buyers have a face to face interaction and can bargain with respective sellers. Therefore, communication in online buying remains more interesting as compared to traditional shopping. Fourthly, the investment also contrasts between the online and the traditional buyers. For example, online business have no huge budget of leasing space, rent employee as well as décor store while traditional shops need more money. Additionally, online business managers to save money in the investment and they manage to expand and produce over the globe in short time, making online buying easy. Lastly, one of the advantages of online buying is convenience. Particularly, online buyer access products not only from within the nation but also from other countries. Hence, buyers get items by their computer irrespective of their area of stay.

To conclude, while there are differences between the two shopping methods, there are many similarities. Many factors propel people to choose the type of shopping suits their demands. Hence, both methods have advantages and disadvantages, and while making chooses between them, it remains critical to consider the situation. Irrespective of the method both the two enables buyers to get what they want and satisfy their consumer needs. Hence, if opportunity dictates, they can shop online, and the same should apply in traditional shopping.

Transformational Leadership Style

Many people have been identified as true leaders with the assumption that great leaders are ‘born as leaders.’ Leadership is an action that involves guiding a group of people in an organization. An effective leader ought to create an inspiring vision of the future, motivate and inspire the subordinates to work towards realizing the vision (Spahr, 2015). The discussion presented regards a leader who exhibits ‘transformational leadership style’ and why the leader was so successful.

Transformation leadership seeks to inspire other people to achieve remarkable success. The workers have autonomy on their specific jobs and can make decisions based on the acquired training skills (Spah, 2015). Among the many transformation leaders I have read about across the world, Nelson Mandela from South Africa stands out to be among the best in the African history. Some leaders find it challenging to change even a small company, but Mandela transformed the entire Africa continent. Transformational leaders ought to have some basic characteristics that drive them to do their work efficiently. They are inspirational, good in mobilizing and at conflict resolutions and never lose morale. It is apparent that Nelson Mandela exhibited the traits and many others that made him stand out among other leaders in transforming his country and the continent.

Mandela served as the President of South Africa from 1994 to 1999, but his impact as a transformational leader was felt far and wide. His leadership style was characterized by authority, authenticity, commitment, good communication, and consistency. He demonstrated inspirational motivation and good working relations when he visited the wife of the champion of Apartheid, Betsie Verwoerd, after being released from prison. He demonstrated the need for leaders to be humble and focus on the future and not the past.

Mandela demonstrated transformational leadership by his character of ideal attributes and behavior. He worked hard to ensure that he brings on board most of the business leaders in support of his development agenda. He knew most of them personally, and his character enabled him to relate well to them. He earned respect and authority that was instrumental in influencing other people to work with him in transforming the country. He did demonstrate not only self-awareness but also social awareness in managing relationships with others. His transformational leadership style provides inspiration to many business leaders who learn from his legacy.

As a transformational leader, he stated that ‘it is better to lead from behind and put others in front when celebrating victory after nice things occur.’ He also emphasized that a leader ought to take the front line when in danger for the other people to appreciate his/her leadership. The leadership style he demonstrated is unique and only found in a selfless leader. It is contrary to what many business leaders behave; they demand recognition and credit when things are good, and blame others when everything turns sour. A transformational leader does not take all the praise and credit but considers others as important contributors to the success.

Mandela founded the African National Congress (ANC) and shared his vision to like-minded people who followed him in realizing that their sacrifices would lead South Africa to freedom. The courage, tolerance, and inspiration demonstrated during his arrest, and jail term by the colonialist was a great motivation to his followers who joined hands in the fight for their national freedom. Mandela was a true inspiration to his followers to stop at nothing less than success. His transformational leadership style is emulated and admired by many international leadership